Congress Bailouts

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  • *Ruling comes as Italy seeks to rescue its banks. *Rome wants to shield small savers, investors. LUXEMBOURG, July 19- The European Union's top court ruled on Tuesday that junior creditors and investors need not necessarily suffer losses before a bank is rescued, a judgment that may work in Italy's favor as it seeks to bail out its banks.

  • That points to a slight softening in tone over efforts to defuse an unfolding banking crisis in Italy, although Berlin still flatly rejects a push by Rome to protect all investors, big and small, from any fallout. "We are not going to be' Taliban' on this," said the German government official, adding that there was a broad appreciation of the risks linked to Italy's...

  • ATHENS, Greece— Italy's state rail operator is set to buy its counterpart in Greece, in a 45 million-euro deal that is part of Athens' bailout commitments. A government privatization fund announced Thursday that it had accepted the offer from Ferrovie Dello Stato Italiane SpA for the whole of Greece's TRAINOSE SA. Greece has promised revive its privatization...

  • WASHINGTON, July 14- The International Monetary Fund's executive board could still be in position to complete its review of Ukraine's $17.5 billion bailout program this month, a key step necessary to release the next loan tranche, a fund spokesman said on Thursday. Rice added that Ukraine's parliament did not need to pass any additional anti-corruption and...

  • Lehman's die was already cast: Kevin Warsh

    Kevin Warsh, Hoover Institution, shares his thoughts on a new paper that claims the Fed could have saved Lehman Brothers during the financial crisis.

  • Greece imposed capital controls a year ago to stem a flight of deposits from Greeks spooked at the ramifications of a financial crisis that almost cost the country its position in the euro zone. Greece held out negotiating its third international bailout in a tense standoff with creditors last year, which included Athens calling a referendum on further...

  • Thursday's incident is symptomatic of fierce workers' resistance to privatizations in Greece, which have frequently been put on the back burner because of staff objections or government reluctance. They are however a key element of a third international bailout Greece signed up to last summer, worth up to 86 billion euros. Under bailout terms, Greece is...

  • WASHINGTON, June 29- U.S. Senate Republican leader Mitch McConnell, speaking as lawmakers prepared to vote on a bill to address Puerto Rico's financial crisis, warned on Wednesday that failure to pass the legislation by Friday could lead to a taxpayer funded bailout. "This is the best and possibly the only action we can take to help Puerto Rico," McConnell said on the...

  • US SENATE REPUBLICAN LEADER MCCONNELL SAYS FAILURE TO PASS BILL TO ADDRESS PUERTO RICO CRISIS BY FRIDAY IS "SUREST ROUTE" TO A TAXPAYER FUNDED BAILOUT.

  • RPT-EXCLUSIVE-ITALIAN BAILOUT FUND ATLANTE PREPARES POPOLARE. LONDON, June 21- Italy's new bank rescue fund Atlante is preparing a sale process for one of the country's most troubled lenders that could start within weeks, sources said, hoping to defy tough market conditions and help stabilize the euro zone's fourth-largest banking system.

  • EXCLUSIVE-ITALIAN BAILOUT FUND ATLANTE PREPARES POPOLARE. LONDON, June 21- Italy's new bank rescue fund Atlante is preparing a sale process for one of the country's most troubled lenders that could start within weeks, sources said, hoping to defy tough market conditions and help stabilize the euro zone's fourth-largest banking system.

  • *Debate over Russia policy flares as sanctions deadline looms. BERLIN, June 20- As the European Union squabbled over refugees, Greek bailouts and austerity in past years, it showed striking unity in another area: its resolve to punish Russia for the annexation of Crimea and support of separatists in eastern Ukraine. That consensus was possible because German...

  • *Debate over Russia policy flares as sanctions deadline looms. BERLIN, June 20- As the European Union squabbled over refugees, Greek bailouts and austerity in past years, it showed striking unity in another area: its resolve to punish Russia for the annexation of Crimea and support of separatists in eastern Ukraine. That consensus was possible because German...

  • DUBLIN, June 9- An Irish court on Thursday convicted former Irish Life and Permanent chief executive Denis Casey of conspiracy to defraud in the run-up to the banking crisis that forced Ireland to seek an international bailout. The criminal trial, Ireland's longest ever, also convicted two former executives of failed Anglo Irish Bank, John Bowe and Willie...

  • WASHINGTON, June 8- Legislation helping Puerto Rico dig out of its $70 billion debt crisis is set for a vote in the U.S. House of Representatives on Thursday after a House panel fended off attempts to open the bill to a series of controversial amendments. Republicans have stressed that no taxpayer money would be used to bail out Puerto Rico from a crisis that has...

  • STRASBOURG, June 6- The European Commission is confident that Greece will conclude the reforms needed to unlock bailout funds before next week's meeting of euro zone finance ministers, top officials said on Monday. Greece and its international lenders wrapped up the bulk of reforms needed for badly needed bailout cash in May, but left some loose ends which must...

  • He will travel to Washington in mid-June, with Ukraine having recently taken two major steps- freeing up gas prices and passing legislation to tackle corruption in the judiciary- under its commitments in a $40 billion international bailout deal. He had cut his teeth as Ukraine's youngest ever mayor, at 28, before becoming speaker of the rough-and-tumble...

  • *Fuel price policy to be set by and for Petrobras- CEO. RIO DE JANEIRO, June 2- Pedro Parente kicked off his first day as chief executive of Brazilian state oil company Petrobras on Thursday by vowing change as he attacked the way the company has been run, noting corruption, heavy debt and government control of fuel prices. He said Petroleo Brasileiro SA, as the company...

  • RIO DE JANEIRO, June 2- Pedro Parente, new chief executive of Brazil's state oil company Petrobras, on Thursday attacked the way the company has been run in recent years, noting heavy debt and government control of fuel prices, vowing to change its culture and improve financial health without a government bailout. Parente also urged Congress to change Brazilian...

  • VIENNA, June 2- European Central Bank President Mario Draghi said on Thursday the bank had not taken a decision on whether to grant Greece access to cheap money. He said it would be discussed after it was ascertained whether Athens had adopted agreed "prior actions". Greece and its lenders wrapped up the bulk of reforms needed to get bailout cash last week, but left...