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Bailouts

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  • *Says can't simply buy Greece more time. Asked about calls from beyond Europe for other EU countries to help Greece and calm financial markets, Weidmann said: "This can't always simply be about simply buying Greece more time." "The prospect of a sustainable stabilisation of Greece is decisive," Weidmann told Reuters in written responses to questions ahead of next...

  • Merkel and French President Francois Hollande spoke for about two hours with their Greek counterpart, Alexis Tsipras, at a summit in Latvia in an effort to pave the way for a deal to get Greece more loans. The "friendly and constructive exchange" came after a leading official from Tsipras' party warned that Greece will not be able to repay a loan to the International...

  • RIGA, May 22- Greek Prime Minister Alexis Tsipras held talks on Athens' debt crisis with the German and French leaders but won little more in public than a reminder he needs to do more to secure funds urgently needed to avert bankruptcy. They agreed on the need for the Greek authorities to continue their work with the three institutions, "German and French officials...

  • Hollande said at the opening of the Eastern Partnership summit that he will join Chancellor Angela Merkel for a friendly discussion with Greek Prime Minister Alexis Tsipras "where we need to draft solutions" to be worked out later by the eurozone ministers. The meeting comes a day after a leading official from Tsipras' party said that Greece will not be able to...

  • Can Greece reduce its Debt/GDP, while in EU?   Wednesday, 20 May 2015 | 4:20 AM ET
    Can Greece reduce its Debt/GDP, whilst in EU?

    Commerzbank has suggested that previous EM debt crises show that Greece cannot reduce its debt/GDP ratio while in the EU. Simon Quijano-Evans, head of EM research at Commerzbank, explains.

  • Greece faces June 5 default without bailout deal Wednesday, 20 May 2015 | 3:09 AM ET

    ATHENS, Greece— Greece will not be able to repay a loan to the International Monetary Fund early next month unless a deal is reached with its creditors to unblock bailout funds, the governing party's parliament spokesman said Wednesday. Greece's new government has been struggling for four months to agree on reforms that creditors require in return for the...

  • Greece: Dissenters rev up pressure on government Tuesday, 19 May 2015 | 7:59 AM ET

    ATHENS, Greece— Three senior members of Greece's governing Syriza party late Monday urged the government to halt bailout repayments— and prepare the country for a possible euro exit. The group of dissenters, headed by the party's former chief economist John Milios, warned that Prime Minister Alexis Tsipras' four-month-old government was being pressured by...

  • Global stock markets rise on Europe stimulus hopes Tuesday, 19 May 2015 | 12:30 AM ET

    BEIJING— Global stock markets were boosted Tuesday by Greece's declaration of progress in bailout talks and a new high on Wall Street as investors looked ahead to U.S. and European inflation data. KEEPING SCORE: In early trading, Germany's DAX added 2 percent to 11,823.19 and France's CAC 40 jumped 2 percent to 5,113.86. Britain's FTSE 100 gained 0.5 percent to...

  • ATHENS, May 18- Greece has proposed to its international lenders that Europe's bailout fund pay back maturing Greek government bonds held by the European Central Bank as a way to overcome a funding crunch, Finance Minister Yanis Varoufakis said on Monday. Greece needs to strike a deal with its creditors by the end of the month to stay afloat, the government said on...

  • For almost four months, Greece's radical left-led government has been haggling with its creditors from the 19- country eurozone and International Monetary Fund over economic reforms it must make to secure a 7.2 billion euro cash injection. That is the final payment due from the country's 240 billion-euro bailout program, launched five years ago after...

  • TOKYO— World stock markets mostly fell on Monday as weak data from the U.S. and China and uncertainty over Greece clouded the outlook for the global economy. KEEPING SCORE: Germany's DAX fell 0.2 percent to 11,424.60 and Britain's FTSE 100 shed 0.1 percent to 6,952.24. Greece said Monday it needs to reach a deal with creditors to get more bailout cash by the end of...

  • ATHENS, Greece— Greek Prime Minister Alexis Tsipras late Friday said his country's left-wing government is "very close" to reaching a vital deal with bailout lenders, but insisted there was "no possibility" of giving in to key demands including further cuts to pensions and wages. Eurozone creditors and the International Monetary Fund argue that Athens'...

  • Without the funds, Greece risks bankruptcy within weeks, and eventually, a possible exit from the euro currency. Yanis Varoufakis said Greece must escape the "strictness trap" of budget measures that might hurt the economy and so prevent the country from reducing its debt mountain to manageable levels. He claimed that, once a satisfactory agreement with...

  • ATHENS, Greece— Greece's prime minister was holding his second ministerial meeting in as many days Wednesday, when official data confirmed the cash-strapped country is back in recession amid concern over much-delayed bailout talks with creditors. At stake is a 7.2 billion euro rescue loan installment, and failure to reach an agreement could lead Greece to...

  • A Greek drama for M&A?   Tuesday, 12 May 2015 | 11:40 AM ET
    A Greek drama for M&A?

    Greece is reportedly tapping into emergency funds to pay IMF debt. Elaine Green, senior deputy editor at Mergermarket, explains the impact on M&A.

  • Greece's debt pile: How bad is it?   Tuesday, 12 May 2015 | 4:00 AM ET
    Greece's debt pile: How bad is it?

    Philip Shaw, chief economist at Investec, discusses the size of Greece's debt pile and whether it can be eroded.

  • A look at what Greece has to pay in coming weeks Monday, 11 May 2015 | 12:08 PM ET

    ATHENS, Greece— Greece faces a tough debt repayment schedule in 2015, adding pressure on it to reach a deal with bailout lenders. Here's a look at payments due, including to the International Monetary Fund, until June 30. May 30— 1.5 billion euros in pensions, salaries.

  • Euro has not been trading on political risk: Strategist

    Phyllis Papadavid, senior global FX strategist at BNP Paribas, explains why she doesn't think Greece has had a huge impact on the euro/dollar.

  • Norton, who started at the FDIC in April 2012, would leave the FDIC, an agency that steps in to bail out failed banks during crises, on June 5. The FDIC dramatically raised its profile during the 2007-09 financial crisis, when its former head Sheila Bair became an outspoken critic of implicit government guarantees for large Wall Street banks that are deemed too big...

  • NICOSIA, May 8- International lenders are close to wrapping up an assessment mission to bailed out Cyprus which its finance minister said he expected to be positive, allowing the island to participate in the ECB'S bond-buying programme. Cyprus reached a 10 billion euro bailout accord with the EU, IMF and the ECB, known collectively as the troika, in March 2013.