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Congress Bailouts

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  • ATHENS, Aug 4- Greece expects to conclude a bailout deal with international lenders by Aug. 18, with the drafting of the accord starting on Wednesday, government spokeswoman Olga Gerovasili said on Tuesday. The bailout, worth up to 86 billion euros, needs to be settled by Aug. 20 if Greece is to pay off debt of 3.5 billion euros to the European Central Bank that matures...

  • ATHENS, Aug 4- Greece expects to conclude a bailout deal with international lenders by Aug. 18, with the drafting of the accord starting on Wednesday, government spokeswoman Olga Gerovasili said on Tuesday. "The first phase of negotiations ends today and the second phase starts, which really contains the details of drafting," Gerovasili told Skai TV station.

  • 'Relatively painful process' to reach Greek deal

    Lyn Graham-Taylor, fixed income strategist at Rabobank, discusses Greece's economy and why recapitalizing greek banks is top of the talks' agenda.

  • BRUSSELS, Aug 3- The battle for Europe will be won or lost in Germany. The aftermath of the euro zone's ugly all-night summit on the Greek debt crisis that ended on July 13 with a deal on stringent, intrusive terms for negotiating a third bailout has sent shockwaves across Europe, especially in Germany. "When you tour European countries, there aren't many that are...

  • *Britain starts sale of RBS stake at a loss. *UK faces loss on 45 bln stg RBS bailout after profit on Lloyds. LONDON, Aug 3- Britain started the sale of a 2 billion pounds stake in Royal Bank of Scotland on Monday, beginning the disposal of its holding in the bank seven years after a multi-billion pound bailout at the height of the financial crisis.

  • LONDON, Aug 3- Britain started to return its holding in Royal Bank of Scotland to private investors on Monday, seven years after it bailed out the bank, selling a stake worth 2 billion pounds at a loss. Britain owns 78 percent of RBS after rescuing it with 45.8 billion pounds of taxpayer cash at the height of the financial crisis in 2008. Its stake will reduce to 73.2...

  • ATHENS, Aug 3- Greece and its lenders discussing a third multi-billion-euro bailout deal have agreed that pension reforms will affect only those who retired after the end of June, labor ministry officials said on Monday. When creditors agreed in July to negotiate a deal aimed at keeping it afloat and in the euro zone, Greece committed to implementing major...

  • Mid-2016: Greece heading back to positive growth? Monday, 3 Aug 2015 | 5:00 AM ET
    Mid-2016: Greece heading back to positive growth?

    Nikos Vettas, general director at Foundation for Economic & Industrial Research, discusses the current uncertainty surrounding Greece's economic activity.

  • Greece: Stock market reopens with 22 percent loss Monday, 3 Aug 2015 | 4:02 AM ET

    ATHENS, Greece— Greece suffered its worst stock market bloodbath in decades on Monday, when it opened after a forced five-week closure, and new data showed a dismal outlook for the bailout-dependent country's shrinking economy. "There's a sense of panic," said Evangelos Sioutis, financial analyst and head of equities at Guardian Trust. Markets in the rest of the...

  • Greece shut its banks and imposed capital controls on June 29 to avert a bank run after Prime Minister Alexis Tsipras called a referendum on a new bailout. Markit's purchasing managers' index for manufacturing, a sector which makes up about 10 percent of the economy, fell to 30.2 points last month, the lowest reading since the company began compiling the data in...

  • Greece may seek up to $26B new aid: Report Saturday, 1 Aug 2015 | 1:14 PM ET
    People wait to enter a bank branch as Greek banks reopened on Monday morning after three weeks of closure on July 20, 2015 in Athens, Greece.

    Greece may seek $26 billion in a first tranche of bailout aid in August to prop up banks and repay debts to the ECB, according to a Greek newspaper.

  • Greek bailout talks on track: analyst Friday, 31 Jul 2015 | 11:20 AM ET
    Greek bailout talks on track: analyst

    Blanka Kolenikova, senior analyst at IHS Country Risk, explains why the markets are ready for the Greek stock exchange to reopen.

  • ATHENS, Greece— Greece's talks with its international creditors on a third bailout worth 85 billion euros shifted into a higher gear on Friday, with lead negotiators from the European Union and International Monetary Fund meeting key ministers in Athens. The bailout talks with the IMF, European Commission, European Central Bank and European Stability...

  • IMF won't join Greek bailout before reforms, debt relief Thursday, 30 Jul 2015 | 12:29 PM ET

    WASHINGTON— The International Monetary Fund official cannot participate in another Greek bailout until Greece and its creditors make difficult decisions on economic reforms and debt relief, a fund official said Thursday. Briefing reporters on condition of anonymity, the official said Greece needs to commit to reforms and creditors must provide debt...

  • WASHINGTON, July 30- The International Monetary Fund can participate in discussions over the latest financial rescue for Greece but cannot officially join the talks until after the fiscally beleaguered nation has agreed to comprehensive reforms, the Financial Times reported on Thursday. The FT report, citing a confidential summary it obtained of the IMF...

  • SINGAPORE, July 30- Protecting the ringgit from political fallout out may end up costing Malaysia more than any bailout for the debt-ridden 1 MDB state fund, given the rate at which the central bank has been using its reserves in recent weeks. On Tuesday, Prime Minister Najib Razak sacked his deputy, who had called on him to give Malaysians a better explanation of...

  • Greek leader seeks to quash rebellion with party vote Thursday, 30 Jul 2015 | 12:02 AM ET

    ATHENS, Greece— In a bid to consolidate his political support and clinch a crucial bailout with creditors, Greek Prime Minister Alexis Tsipras on Thursday called for a vote within his party to decisively sideline rebels opposed to the rescue deal. Tsipras is gambling that with a win, he would discredit the rebel party members, a group who contend the terms are too...

  • AP PHOTOS: Greece's odyssey through its latest crisis Wednesday, 29 Jul 2015 | 7:48 AM ET

    Greece has endured financial and political chaos since its referendum on July 5 on a bailout proposal by the country's rescue creditors. They let Greece's existing bailout expire, forcing the country to take the drastic action of shutting its banks for three weeks and putting limits on money withdrawals and transfers. The photographs here chronicle...

  • Greece's Tsipras: party rebels could force early election Wednesday, 29 Jul 2015 | 7:16 AM ET

    ATHENS, Greece— Greece's prime minister sought to contain a deepening rift in his radical left Syriza party Wednesday, warning rebels that he would have to call early elections if they keep opposing key reforms demanded for a new international bailout. Representatives of Greece's creditors— its European Union partners and the International Monetary Fund—...

  • Posting 571 million euros of net income, after a 114 million loss the same time last year, Peugeot met key goals three years early but warned against hasty conclusions in the face of a Chinese slowdown and other approaching hurdles. Following a 3 billion euro bailout that saw the French government and China's Dongfeng buy matching 14 percent stakes last year,...