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Bailouts

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  • 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.

  • 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...