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Bailouts

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  • NEW YORK, Feb 27- Robert Benmosche, who headed insurer American International Group after a massive government bailout at the height of the financial crisis, died on Friday at 70, the company said in a statement. Benmosche, who was president and chief executive officer of AIG between August 2009 and September 2014, died at NYU Langone Medical Center in New York...

  • ATHENS, Feb 27- Nearly half of Greeks would back the governing leftist party of Prime Minister Alexis Tsipras if elections were held this week, a Metron Analysis poll to be published on Saturday showed. Support for the centre-right New Democracy party, which pushed through unpopular reforms as part of Greece's 240 billion euro bailout programme, fell to 20.7...

  • ATHENS, Feb 27- Greek Prime Minister Alexis Tsipras denied on Friday that his country would have to seek a third international bailout when a four month extension to its current programme expires. Tsipras also said the government had requested a reduction in the country's debt, even though EU/IMF creditors insist Greece must meet its obligations in full.

  • Former AIG CEO Robert Benmosche dies of cancer at 70 Friday, 27 Feb 2015 | 1:54 PM ET

    NEW YORK— Former AIG President and CEO Robert Benmosche, who led the insurer's turnaround after its $182 billion government bailout, has died of lung cancer at age 70, the company announced Friday. He had previously led the insurer MetLife. Benmosche was born May 29, 1944, in the New York City borough of Brooklyn.

  • PM Tsipras denies Greece will seek third bailout Friday, 27 Feb 2015 | 1:35 PM ET

    ATHENS, Feb 27- Greek Prime Minister Alexis Tsipras denied on Friday that his country would have to seek a third international bailout when a four month extension to its current programme expires. In a televised speech to his cabinet, Tsipras also said the government had requested a reduction in the country's debt, even though EU/IMF creditors insist Greece...

  • *Greece faces 1.5 bln euro debt payment to IMF in March. *Pressure on Athens to quickly complete bailout review for aid. BRUSSELS/ ATHENS, Feb 27- Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.

  • Germany backs Greek plan but bailout fatigue grows Friday, 27 Feb 2015 | 12:23 PM ET
    A man adjusts a European flag, next to a Greek flag outside the Greek embassy in Brussels February 19, 2015.

    Germany's parliament approved an extension of Greece's bailout but a number of dissenters underscored growing skepticism in Berlin.

  • Greek prime minister rules out third bailout Friday, 27 Feb 2015 | 9:24 AM ET

    ATHENS, Greece— Greece's new radical left government has no intention of seeking another bailout deal from international creditors and will spend coming months trying to ease the terms of its current commitments, the financially struggling country's prime minister said Friday. Alexis Tsipras remarks came hours after lawmakers in Germany, a key rescue loan...

  • *Greece faces 1.5 bln euro debt payment to IMF in March. *Pressure on Athens to quickly complete bailout review for aid. BRUSSELS/ ATHENS, Feb 27- Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.

  • *Debate reflects breakdown in German trust in Greece. With Finance Minister Wolfgang Schaeuble promising not to let Greece "blackmail" its euro zone partners, 542 members of the Bundestag voted "yes" to the extension, while 32 opposed it and 13 abstained. The broader German population also grown more sceptical since Prime Minister Alexis Tsipras took power last...

  • BERLIN, Feb 27- Germany's parliament approved an extension of Greece's bailout on Friday after Finance Minister Wolfgang Schaeuble, who has voiced doubts about whether Athens can be trusted, promised he would not let Greece "blackmail" its euro zone partners. "We Germans should do everything to keep Europe together as far as we can and bring it together again and...

  • BERLIN, Feb 27- German Finance Minister Wolfgang Schaeuble urged parliament on Friday to take what he acknowledged was a difficult decision and approve an extension of Greece's bailout, assuring them Athens would not be allowed to "blackmail" its euro zone partners. The 72- year-old minister, who has repeatedly voiced his own doubts about whether the new...

  • BERLIN— Germany's Parliament overwhelmingly approved the four-month extension of Greece's financial bailout on Friday, despite unease over the new government in Athens. Greece was granted the extension by its European creditors, ensuring it remains solvent and does not run the risk of falling out of the euro, but only in exchange for a commitment to budget...

  • Illinois plan would aid Exelon nuclear plants Thursday, 26 Feb 2015 | 2:25 PM ET

    SPRINGFIELD, Ill.— Power-producing giant Exelon Corp. rounded out a phalanx of Illinois lawmakers and business leaders who said Thursday that three nuclear power plants could close unless consumers chip in to reward them for producing environmentally-friendly electricity. The Exelon- backed plan was quickly derided as a "bailout" Thursday by a consumer...

  • ECB: Greek tensions bubble over in Brussels  Thursday, 26 Feb 2015 | 11:20 AM ET

    Notis Marias, Greek Independent MEP, explains why he thinks that the European Central Bank is profiting from Greece's debt.

  • ATHENS, Feb 26- The expected growth in Greece's economy this year is at risk if the government can't fulfill its deal with creditors, public finances worsen and reforms stall, the country's central bank governor said on Thursday. Greece last week narrowly averted a banking collapse by accepting a last-minute deal with the euro zone to extend its bailout by...

  • BERLIN, Feb 26- Germany's Wolfgang Schaeuble told a meeting of conservatives lawmakers on Thursday that recent remarks by the Greek finance minister had strained European solidarity and that a bailout extension for Athens could be ditched if the country failed to stick to its promises, according to participants. The German finance minister met lawmakers...

  • How will Greece pay their bills?  Wednesday, 25 Feb 2015 | 11:25 AM ET

    CNBC's Julia Chatterley talks to Yanis Varoufakis, finance minister of Greece, and asks him how Greece will pay their bills and what are their future plans.

  • ATHENS, Feb 25- A prominent Greek minister defied his government's pledge to press on with some state asset sales, revealing the first open dissent within Prime Minister Alexis Tsipras's coalition and highlighting the tightrope that the leftist premier must walk. After weeks of euphoric declarations that Greece's bailout and accompanying austerity were "...

  • LONDON, Feb 25- Ireland has no problem in principle with the idea of swapping Greece's official debt for growth-linked bonds but would have to see the details of any proposal, Finance Minister Michael Noonan said on Wednesday. Euro zone finance ministers agreed on Tuesday to a four-month extension of Greece's EU/IMF bailout programme, subject to its economic...