Congress Bailouts

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  • *Analysts say hurdles still in Greece's path. LONDON, May 9- Borrowing costs in Greece fell sharply on Monday, with 10- year government bond yields hitting four-month lows after lawmakers in Athens passed unpopular pension and tax reforms that could encourage the country's creditors to unlock bailout cash. Signing off on the reform review will unlock more than...

  • HELSINKI, May 9- Greece's reform package is a major step forward but Eurogroup finance ministers will probably not release a multi-billion euro bailout right away, European Commission Deputy President Jyrki Katainen said on Monday. He told Finnish broadcaster YLE it was likely that further discussions on debt relief would come before the five billion euro...

  • ATHENS, May 9- Greek lawmakers early on Monday approved new tax and pension reforms, a move the left-led government hopes will help unlock fresh bailout funds under a financial lifeline worth up to 86 billion euros extended to Athens last year. Introduces unified retirement rules and a national pension at 384 euros, cuts supplementary pensions, plans to...

  • ATHENS, May 9- Greece's parliament on early Monday passed a package of unpopular pension and tax reforms that the country's leftist-led government hopes will persuade official creditors to unlock bailout cash. The measures aim to ensure Greece will attain savings to meet an agreed 3.5 percent budget surplus target before interest payments in 2018, helping...

  • By Renee Maltezou and George Georgiopoulos. ATHENS, May 6- Greeks went on a 48- hour nationwide strike on Friday to protest against tax and pension reforms, as Prime Minister Alexis Tsipras appealed to fractious lawmakers to approve the overhaul as part of a multi-billion euro bailout. Lowering its annual pension bill, one of the most expensive in the euro zone, is...

  • ATHENS, May 6- Greeks started a 48- hour nationwide walkout on Friday in anger at tax and pension reforms pursued by the indebted nation under terms of a multi-billion euro bailout it signed up to last year. Greece's largest labour union, private sector union GSEE, said the reforms were the "last nail on the coffin" for workers and pensioners who have sacrificed...

  • ATHENS, May 5- Greek labour unions declared a 48- hour national walkout on Thursday as lawmakers debated unpopular tax and pension reforms Greece hopes will help persuade creditors to approve release of badly-needed bailout cash. Greece needs the bailout funds to pay IMF loans, ECB bonds maturing in July and growing state arrears, but these are subject to it...

  • ATHENS, May 5- Greek lawmakers are expected on Sunday to vote on a raft of unpopular tax and pension reforms that Greece hopes will help it convince creditors to approve the release of badly-needed bailout cash. Greece needs the bailout funds to pay IMF loans, ECB bonds maturing in July and growing state arrears, but these are subject to it passing a review that...

  • The insurer's near collapse in 2008 and its $182 billion bailout by the U.S. government led to its inclusion in the Federal Reserve's list of "systemically important financial institutions". Chief Executive Peter Hancock said in March that a judge's ruling that MetLife Inc was not "too big to fail" opened up an opportunity for AIG to seek an exemption from the...

  • The insurer's near collapse in 2008 and its $182 billion bailout by the U.S. government led to its inclusion in the Federal Reserve's list of "systemically important financial institutions". Chief Executive Peter Hancock said in March that a judge's ruling that MetLife Inc was not "too big to fail" opened up an opportunity for AIG to seek an exemption from the...

  • *Fund rises 4.25 billion euros, at lower end of target. MILAN, April 29- Italy's new bailout fund is set to own around 90 percent of Popolare di Vicenza after investors bought a fraction of the mid-tier bank's 1.5 billion euro cash call, three sources close to the matter said. Earlier on Friday it said it had raised 4.25 billion euros, at the lower end of a 4- 6 billion euro...

  • LONDON, April 28- Part-nationalised Royal Bank of Scotland said on Thursday it risked missing an end-2017 deadline to sell its Williams& Glyn brand, a condition of its crisis-era bailout. Shares in the bank were trading down 3.3 percent at 243 pence at 1312 GMT in reaction to the news. The separation process has already cost RBS, which is 73 percent owned by the UK...

  • ATHENS/ BRUSSELS, April 27- Greece accused the International Monetary Fund on Wednesday of undermining negotiations over the release of more bailout funds needed in the next few weeks to repay debt. At issue is what measures Athens would take if it fails to reach fiscal targets by 2018. Athens argues that its constitution precludes legislation on a...

  • LONDON/ MILAN, April 27 (Reuters)- European shares edged higher on Wednesday helped by gains among utilities and energy stocks, while Greek equities lost ground after euro zone officials delayed a meeting on the country's bailout. Greece's benchmark ATG equity index fell 2.8 percent, making it the worst-performing market in the region. Utilities were also...

  • BERLIN, April 27- More talks on experts level are needed on the Greek bailout programme before euro zone finance minister can meet again to discuss Athens' progress, a spokeswoman for German Finance Minister Wolfgang Schaeuble said on Wednesday. "It seems as if there is the need for more talks," spokeswoman Friederike von Tiesenhausen said during a government...

  • BERLIN, April 27- German Finance Minister Wolfgang Schaeuble said on Wednesday that the Eurogroup of euro zone finance ministers was in charge of reviewing the Greek bailout programme and Athens' progress in implementing agreed reforms. A Greek government source said on Tuesday that Prime Minister Alexis Tsipras planned to contact European Council...

  • BRUSSELS, April 26- Euro zone finance ministers will not meet on Thursday and need more time to discuss Greek reforms that would unlock new loans, signaling significant differences remain between Athens and its lenders on bailout targets. The meeting was a possibility because Athens and its EU/IMF lenders aimed to reach an agreement this week on reforms...

  • TOKYO, April 25- A decade ago, Japanese automaker Mitsubishi Motors survived a defect cover-up scandal through a bail-out by other Mitsubishi Group companies. A task force at Bank of Tokyo-Mitsubishi UFJ, the banking arm of Mitsubishi UFJ Financial Group- which persuaded other group firms to rescue Mitsubishi Motors in 2004- has reconvened in recent days to...

  • DETROIT, April 22- Steve Girsky, the one-time Wall Street analyst who was instrumental in the emergence of General Motors Co from bankruptcy and the restructuring of the company after a 2009 government bailout, is retiring from the company's board of directors, GM said on Friday. Girsky led restructuring efforts at Opel, GM's primary brand in Europe, and pushed GM...

  • BRUSSELS, April 21- Greece had a primary surplus last year that beat the target set in its bailout programme, according to the European Commission, but euro zone officials said the number was already discounted in talks between Athens and lenders on reforms and debt relief. A Commission spokeswoman said Athens recorded a primary surplus- which excludes debt...