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Congress Bailouts

  • MILAN, May 23- Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy's fourth biggest bank, a senior Italian treasury official said on Tuesday. Together with two Veneto- based lenders, the Tuscan bank has been locked in talks for months with European regulators that must approve...

  • BRUSSELS— Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set. Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. Without the loans, Greece faces another brush with bankruptcy.

  • *Euro zone may agree to new loans for Greece after reforms passed. BRUSSELS, May 22- Euro zone finance ministers may agree on Monday to release new loans to Greece but are likely to struggle to convince the International Monetary Fund to join the bailout by keeping the prospect of debt relief for Athens highly conditional. Greece needs new cash from the euro zone to...

  • BRUSSELS— Greece is seeking Monday to persuade its creditors in Europe that it has done enough to get another chunk of bailout loans and a firm commitment on alleviating Athens' hefty debt burden. Greek Finance Minister Euclid Tsakalotos is meeting his counterparts from the 19- country eurozone at a meeting in Brussels, where Greece will once again be top of the...

  • ZURICH, May 21- Swiss voters backed the government's plan to provide billions of dollars in subsidies for renewable energy, ban new nuclear plants and help bail out struggling utilities in a binding referendum on Sunday. The Swiss initiative mirrors efforts elsewhere in Europe to reduce dependence on nuclear power, partly sparked by Japan's Fukushima...

  • Protesters take to the streets of Athens

    Greek lawmakers approved pension cuts and tax hikes on Thursday sought by the country's lenders to unlock vital financial aid, as angry demonstrators protested outside parliament over new austerity, the latest since the country plunged into crisis seven years ago.

  • ATHENS, Greece— Greece's government secured parliamentary approval late Thursday for a new batch of creditor-demanded measures that will impose further income losses on austerity-weary Greeks over the next three years but pave the way for a modest debt relief deal. The vote was a key requirement for Greece's European creditors to release a new bailout...

  • *The Veneto banks expect to book fresh loan writedowns. MILAN, May 17- Italian regional lenders Popolare di Vicenza and Veneto Banca may need to raise capital privately to cover loan losses to win European Union approval for a state bailout they have requested, six sources familiar with the matter said on Wednesday. But having failed to raise funds on the market...

  • ATHENS, May 17- Greek Prime Minister Alexis Tsipras said on Wednesday he was optimistic of a positive outcome when euro zone finance ministers meet in Brussels on Monday to discuss the progress of Greece's bailout and the disbursement of new loans. Athens needs the funds to repay 7.5 billion euros of debt maturing in July. Tsipras has urged Greece's...

  • ATHENS, May 17- Thousands of Greeks walked off their jobs on Wednesday and marched through central Athens in an angry protest against continued austerity measures being demanded by international lenders in exchange for disbursing bailout funds. The strike was called by the country's main public and private sector unions a day before Greece's parliament is...

  • *Follows other moves in Europe to reduce nuclear reliance. ZURICH, May 17- Swiss voters will on Sunday determine the fate of a law proposing billions of dollars in subsidies for renewable energy, a ban on new nuclear plants and a partial utilities bailout. The Swiss initiative mirrors efforts elsewhere in Europe to reduce dependence on nuclear power, partly...

  • *Follows other moves in Europe to reduce nuclear reliance. ZURICH, May 17- Swiss voters will on Sunday determine the fate of a law proposing billions of dollars in subsidies for renewable energy, a ban on new nuclear plants and a partial utilities bailout. The Swiss initiative mirrors efforts elsewhere in Europe to reduce dependence on nuclear power, partly...

  • ATHENS, May 17- Thousands of Greeks walked off their jobs on Wednesday and marched through central Athens in an angry protest against continued austerity measures being demanded by international lenders in exchange for disbursing bailout funds. The strike was called by the country's main public and private sector unions a day before Greece's parliament is...

  • ATHENS, May 17- Thousands of Greeks walked off their jobs and marched through central Athens on Wednesday protesting against additional austerity measures being demanded by international lenders in exchange for disbursing scheduled bailout funds. The strike was called by the country's main public and private sector unions a day before Greece's...

  • LLOYDS BANKING GROUP SAYS THE GOVERNMENT WILL MAKE 900 MILLION POUNDS ON ITS BAILOUT OF THE BANK.

  • LONDON, May 16- The British government is due to announce the sale of its remaining stake in Lloyds Banking Group on Wednesday, the first lender to fully repay its state bailout in a landmark moment for the recovery of Britain's banking sector. Britain spent more than 20 billion pounds rescuing Lloyds during the global financial crisis of 2007-9, leaving the...

  • ATHENS, Greece— Lawmakers in Greece started a four-day debate Monday on whether to approve a new package of spending cuts that will extend the number of years Greeks have lived under austerity to more than a decade. Greece is currently in the midst of its third bailout program— the current three-year program expires in the summer of 2018 and could be worth up to 86...

  • ATHENS, May 13- Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms. Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the...

  • ATHENS, May 13- Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms. Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the...

  • ATHENS, May 13- Greece cut its 2017 growth forecast to 1.8 percent from 2.7 percent, according to a mid-term budget plan unveiled late on Saturday, driven by uncertainty caused by delays in concluding the latest review of bailout reforms. Greece and its foreign creditors reached a deal on reforms in early May after six months of tense negotiations but the...