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Bailouts

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  • *ECB won't allow Greece to issue more short-term debt. NICOSIA/ ATHENS, March 5- The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday. The tough line, spelled out after the ECB's policymaking...

  • TOKYO, March 5- Loss-making Japanese electronics firm Sharp Corp meets its main banks on Thursday in an effort to secure its second major bailout since 2012, betting they will have little choice but to pay up despite their call for more drastic overhauls. Sharp Chief Executive Kozo Takahashi will meet officials from Mizuho Bank and Bank of Tokyo-Mitsubishi...

  • MADRID— The European Commission's leader says he does not believe Spain and Portugal have a "diabolical" plot to oust Greece's new far left government as they pressure Greece to comply with bailout terms they both had to endure. EC President Jean-Claude Juncker made the comments Wednesday after a brief summit in Madrid with the leaders of France, Spain and...

  • WASHINGTON/ NEW YORK, March 4- The Federal Reserve struggled with the message being sent by its role in bank bailouts and worried about the impact of a bond-buying program aimed at easing the 2007-2009 financial crisis, according to transcripts released by the U.S. central bank on Wednesday. In a prescient view of future policy, then-San Francisco Fed President...

  • *Ukraine parliament has okayed IMF-backed budget changes. *G7 powers see IMF board approving Ukraine bailout. IMF chief Christine Lagarde cautioned that what she called the "huge distraction" of fighting against pro-Russian rebels in eastern Ukraine complicated the provision of aid, but she was in no doubt that Kiev was now "really determined to reform."

  • During an emergency call on the morning of Jan. 16, 2009, after the government had announced a $20 billion bailout for Bank of America, then-Fed Chairman Ben Bernanke declared that he was unwilling to allow "the failure of a firm the size of Bank of America." The call underscored the chaotic situation facing the Fed and other government agencies as they confronted a...

  • WASHINGTON/ NEW YORK, March 4- The Federal Reserve struggled with the message being sent by its involvement in bank bailouts in 2009 and worried about its implementation of a bond-buying program aimed at easing the financial crisis, according to transcripts released by the U.S. central bank on Wednesday. "Until the reinforcements arrive, I don't think we have...

  • Merkel dampen talk of 3rd Greek bailout Wednesday, 4 Mar 2015 | 9:44 AM ET

    BRUSSELS— German Chancellor Angela Merkel and the president of the European Union's executive branch cautioned Wednesday against speculation that Greece will need a third financial bailout. Greece and its creditors recently agreed a four-month extension to Athens' second bailout to June. De Guindos later said Greece will need a new accord or program if it...

  • ATHENS, Greece— Greece's new left-wing government is promising to spend 200 million euros this year on assistance programs for people pushed into "extreme poverty" by the financial crisis. Greece is struggling to emerge from a six-year recession that saw a dramatic rise in unemployment and poverty, following drastic spending cuts in exchange for bailout...

  • Treasuries fell to its lowest since January this week on easing fears about the global economy and Greece leaving the euro zone, according to a J.P. Morgan Securities survey released on Tuesday. In February, encouraging data on the domestic economy and a deal that granted Greece a four-month extension on its international bailout caused some investors to...

  • LONDON, March 1- The latest episode of Greece's debt crisis has revived doubts about the long-term survival of the euro, nowhere more so than in London, Europe's main financial centre and a hotbed of Euroscepticism. To sceptics, the election of a radical leftist-led government in Athens committed to tearing up Greece's bailout looks like the start of an...

  • *Greece says can overcome immediate funding crunch. MADRID/ ATHENS, March 2- Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks. Speaking at an event in Pamplona, northern Spain, Economy Minister Luis de Guindos said the new rescue...

  • DUBLIN/ MADRID, March 2- Europe's tough treatment of Greece's new government has eased some immediate anti-austerity pressure in Ireland and Spain, but it may take a lot more than that to put Dublin and Madrid's ruling parties' re-election prospects back on track. They both toed the line with Germany in demanding that Greece stick to its bailout commitments- a...

  • MADRID— Spain created hours of confusion over the future of Greece's troubled finances Monday by announcing that eurozone nations were negotiating a third Greek bailout of up to 50 billion euros, then backtracking by saying the prospect of such a bailout is merely hypothetical. The high profile sequence of events began when Spain's Economy Ministry said...

  • ATHENS, March 2- Greece's government sought to assure its creditors and investors on Monday that it can cover its funding needs this month, including repaying a 1.5 billion euro loan to the International Monetary Fund. Athens is running out of options to fund itself despite striking a deal with the euro zone in February to extend its bailout by four months.

  • BERLIN— Chancellor Angela Merkel says she's hoping for a good future for Greece in the eurozone as Germany pushes Athens to comply fully with the terms of its financial bailout. Germany's Parliament signed off Friday on a four-month extension to Greece's bailout, an agreement under which the new Greek government committed to honoring its financial...

  • Germany trusts Greece to fulfill bailout terms Sunday, 1 Mar 2015 | 10:51 AM ET

    BERLIN— Germany's finance minister said Sunday that he trusts Greece's current government to fulfill the conditions for the bailout deal, but also made clear the country would not receive any further money if it didn't. At the same time, Schaeuble warned that if Greece did not fulfill the demands laid out by the eurozone finance ministers in a four-month...

  • If Greece doesn't stick to that, there will be no further aid, "Schaeuble said according to the pre-publication extract. He said a Grexit was not the desired outcome and nobody had forced a bailout upon Greece so the ball was in Athens' court. Greek Prime Minister Alexis Tsipras denied on Friday that Greece would need another international bailout.

  • BERLIN, Feb 28- German Finance Minister Wolfgang Schaeuble told a German newspaper he was sure the Greek government would be able to fulfil the conditions attached to its bailout but warned that it would receive no further aid if it did not keep its promises. "The new Greek government has a lot of legitimacy with the population. If Greece doesn't stick to that, there...

  • Greece will not seek another bailout, prime minister says Saturday, 28 Feb 2015 | 11:45 AM ET

    ATHENS, Greece— Greece won't seek a third bailout deal, the prime minister said Saturday, having succeeded in separating the loan agreement from the "disastrous" austerity conditions imposed with the willing cooperation of previous governments. Alexis Tsipras spoke Saturday at the start of a two-day meeting of his party's central committee.