Congress Bailouts

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  • BRUSSELS, June 1- France and Italy want to set a limit on the reserves euro zone banks should be ready to wipe out if they need to be rescued, a joint document said, fuelling controversy over EU bail-in rules meant to reduce taxpayers' costs. Last year hundreds of people in Italy lost their savings when retail bondholders' holdings were used to help bail out four small...

  • ATHENS, May 31- Greece and its international lenders are inching towards an accord over a set of extra measures demanded from Athens to qualify for vital rescue funds, officials with knowledge of the negotiations said on Tuesday. The two sides wrapped up the bulk of reforms needed for badly needed bailout cash last week, but left some loose ends which must be tied...

  • ATHENS, May 31- Greece and its international lenders are inching towards an accord over a set of extra measures demanded from Athens to qualify for vital rescue funds, sources with knowledge of the negotiations said on Tuesday. The two sides wrapped up the bulk of reforms needed for badly needed bailout cash last week, but left some loose ends which must be tied up...

  • *Greece has enacted series of reforms to get funds. ATHENS, May 30- Greece has told its European and International Monetary Fund creditors it cannot implement some of the extra changes sought in exchange for fresh bailout loans, three sources close to the talks said on Monday. Last week, after months of negotiations, Greece and its lenders concluded a key bailout...

  • ATHENS, May 30- Greece has told its European and International Monetary Fund creditors it cannot implement some of the extra changes sought in exchange for fresh bailout loans, three sources close to the talks said on Monday. The move, if confirmed, could further delay the disbursement of the bailout funds which Athens badly needs to pay off IMF loans in June and...

  • ATHENS, May 26- Greece's finance minister said on Thursday he hoped Athens could swiftly qualify for the European Central Bank's quantitative easing program after the successful conclusion of its first bailout review this week. After six months of tense talks, Greece reached a deal with its foreign creditors which will unlock desperately needed bailout...

  • Greece reaches 'breakthrough' deal with creditors

    Euro zone finance ministers approve an aid package to extend another lifeline to the debt-laden country.

  • *Greece to get 10.3 bln euros new cash, 7.5 bln of it in June. BRUSSELS, May 25- The euro zone gave Greece its firmest offer yet of debt relief in what finance ministers called a breakthrough deal that won a provisional commitment from the IMF to return to taking part in the bailout for Athens, heartening investors. After talks that lasted into the small hours of...

  • ATHENS, May 24- Greek port workers will walk off the job on Thursday for 48 hours to protest against the sale of the country's two biggest ports, which Athens has promised to international lenders in exchange for much-needed bailout loans. The left-led government halted the sale of its two main ports in Piraeus and the northern Greek city of Thessaloniki when it...

  • Protesters shout slogans during a demonstration against a new package of tax hikes and reforms in front of the parliament building in Athens, Greece, May 22, 2016.

    European leaders are again scrambling to revive Greece's economy, as Athens faces more debt payments it can't afford.

  • *Cost of insuring Greece against default tumbles. LONDON, May 23- Greek government borrowing costs fell to a six-month low on Monday after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks this week. "It seems to all be falling into place for Greece," Commerzbank strategist Rainer Guntermann said.

  • *Athens market up on new Greek govt reforms. LONDON, May 23- The Greek bourse outperformed weaker European stock markets on Monday, after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks. "The unlocking of more emergency loans for Greece has given some reassurance to investors concerning the country,"...

  • SYDNEY, May 23- Troubled Australian steel group Arrium Ltd, which collapsed last month after creditors rejected a private equity bailout, will hire a global investment bank to advise on the sale of its profitable Moly-Cop mining supplies unit, the firm's administrator said on Monday. Moly-Cop, which makes steel balls to grind ore, among other items, operates...

  • *Cost of insuring Greece against default tumbles. LONDON, May 23- Greek government borrowing costs fell to a six-month low on Monday after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks this week. Lawmakers in Athens approved a series of measures including tax increases and a contingency...

  • Parliament will also vote on a contingency mechanism to automatically impose spending cuts that will be activated only if Athens, which has received three international bailouts since 2010, misses its latest fiscal targets. International lenders want a mechanism that will compel Greece to cut overheads to keep Greece within a 3.5 percent primary deficit...

  • ATHENS, May 16- Greece's parliament will vote on a new package of tax hikes and reforms demanded by its international lenders on Sunday, two days before euro zone finance ministers assess whether Athens qualifies for much-needed bailout loans. Passing the reforms before the Eurogroup meeting on May 24, is a demand of international lenders to wrap up the review...

  • *Athens hopes to finish bailout review on May 24. ATHENS, May 14- Greece will return to credit markets next year if the country's international creditors offer debt relief measures at a crucial May 24 meeting of euro zone finance ministers, Prime Minister Alexis Tsipras told a newspaper on Saturday. Tsipras's government aims to conclude a review of its progress...

  • Greece's emergency lenders have insisted on an overhaul of the tax collection system-- long known as one of the most flawed in Europe-- as a condition of 290 billion euros in EU and IMF bailout funding. More than 50 billion euros left banks from November 2014 to July last year on fears the country could crash out of the euro, forcing them to resort to borrowing from the...

  • SAN JUAN/WASHINGTON, May 10- Congressional Democrats circled their wagons on Tuesday, a day before Republicans unveil an updated Puerto Rico debt bill, by focusing attention on the island's humanitarian crisis while hinting at an unwanted bailout if the legislation fails to pass. Raul Grijalva, the Democratic leader of the HNRC, told Reuters during a visit to...

  • *Euro zone eyes possible debt relief for Greece deal on May 24. BRUSSELS/ ATHENS May 9- Euro zone finance ministers offered on Monday to grant Greece debt relief by giving it longer grace periods and bond maturities from 2018 if the country delivers by then on all reforms agreed under its latest bailout. The offer, to be worked out in detail by deputy finance...