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Bailouts

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  • May 7- Government-controlled mortgage financier Fannie Mae said on Thursday it will pay a dividend of $1.8 billion to the U.S. While the payment will push taxpayers further into the black on their bailout of the firm, it will be Fannie Mae's smallest dividend payment since the first quarter of 2010, when it was required to cut a check even as it was drawing bailout...

  • *Greek spokesman says Athens won't back down on everything. *Athens seeks statement of progress to unlock ECB help. Despite efforts by European Commission President Jean-Claude Juncker to coax leftist Prime Minister Alexis Tsipras into moving on two key conditions for releasing EU/IMF bailout funds, the Greek government spokesman said lenders could not...

  • May 5- Government-controlled mortgage financier Freddie Mac said on Tuesday it would pay a dividend of $746 million to the U.S. After the payment, Freddie Mac will have returned $92.6 billion in dividends to the Treasury in return for the $71.3 billion in bailout funds it drew. Freddie Mac and its sister company Fannie Mae, which has yet to report first quarter...

  • *Greece will not survive without a 3rd bailout. BRUSSELS, April 29- Greece has only days left to reach a cash-for-reforms deal with creditors because it needs to start negotiating a third bailout that would save it from bankruptcy after the current programme ends in June, euro zone officials said on Wednesday. The 240 billion euro bailout from euro zone...

  • DUBLIN, April 28- Ireland nudged up its growth forecasts for 2015 and 2016 on Tuesday, setting it up to remain the fastest-growing economy in the European Union as the government seeks to eliminate its budget deficit by 2018.. That marks a recovery from a high of 15 percent in 2012 when Ireland was in the middle of its three-year international bailout programme...

  • NEW YORK, April 27- The euro scaled a three-weak peak against the dollar on Monday, on optimism about Greece's prospects after the government reshuffled its bailout negotiating team as the cash-strapped country seeks to avoid a default. Greece looks set to run out of funds in the coming weeks. "There was probably a view that Varoufakis was an obstacle to...

  • *Greece reshuffles bailout negotiating team. NEW YORK, April 27- The euro climbed to three-weak peaks against the dollar on Monday, on optimism about Greece's prospects after the government reshuffled its bailout negotiating team to forge a deal with lenders about more aid for the cash-strapped country and avoid a default. Greece looks set to run out of funds in...

  • LAGOS, April 24- Nigeria's central bank ordered banks on Friday to crack down on borrowers with non-performing loans in a move aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion. A sharp drop in the global price of oil, Nigeria's main export, has triggered a currency crisis in Africa's largest economy and strained...

  • Greece: No reform, no cash   Friday, 24 Apr 2015 | 11:00 AM ET
    Greece: No reform, no cash

    Kerry Craig, market strategist at JP Morgan Asset Management, says that for the Eurogroup, it's all about Greece coming up with a "credible" reform plan.

  • *Eurogroup urges Greece to speed up reform deal for cash. RIGA, April 24- Euro zone finance ministers delivered a stark warning to Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy. He also said a remaining 7.2 billion euros in frozen bailout funds would no longer...

  • Not enough pressure on Greece: Piccoli   Friday, 24 Apr 2015 | 4:40 AM ET
    Not enough pressure on Greece: Piccoli

    Can we put money on Greece delivering soon? Wolfango Piccoli, managing director at Teneo Intelligence, doesn't think so.

  • Will Greece and Eurogroup ever agree?   Thursday, 23 Apr 2015 | 11:00 AM ET
    Will Greece and Eurogroup ever agree?

    Bob McKee, chief economist at Independent Strategy, says there's still no real agreement being reached between the Eurogroup and Greek officials, with the Eurogroup seeming pretty "cynical."

  • BRUSSELS/ BERLIN, April 23- German Chancellor Angela Merkel was expected to press Greek Prime Minister Alexis Tsipras on Thursday to move faster to agree detailed economic reforms crucial to unlock international bailout funds before Athens runs out of cash. The conservative German leader was due to meet the leftist Greek premier just before an emergency...

  • WASHINGTON, April 22- The U.S. government was "punitive" in its bailout of American International Group Inc in 2008, a lawyer for the company's former chief executive argued during closing arguments of a trial that may impact how much flexibility regulators will have when they respond to future financial crises. Former AIG Chief Executive Maurice "Hank"...

  • The complicated 'Grexit' conundrum   Wednesday, 22 Apr 2015 | 11:00 AM ET
    The complicated 'Grexit' conundrum

    What would really happen to Greece if it left the euro zone? Christian Keller, economist at Barclays, shares his thoughts on the "complicated" matter.

  • ATHENS/ BRUSSELS, April 22- Greece can scrape together enough cash to meet its payment obligations until June, euro zone and Greek officials said on Wednesday, playing down fears of an imminent default as hopes receded of a deal with its creditors to release fresh aid. Greece has received two international bailouts worth 240 billion euros since 2010 but its...

  • Armed with new law, Ukraine targets its shadowy banks Monday, 20 Apr 2015 | 10:07 AM ET

    KIEV, April 20- For the first time in its post-Soviet history, Ukraine now has a law to prosecute bank owners who use their lenders as little more than personal piggy banks. Under pressure from the IMF, which has agreed a $17.5 billion bailout for Ukraine in exchange for reforms, Kiev plans to use the new banking law to start cleaning up an over-populated and corrupt...

  • LONDON, April 19- The threat posed by Greece beyond its borders may have diminished but efforts to agree an economic reform programme to free up bailout funds and avert default will capture world attention this week. Euro zone finance ministers meet in the Latvian capital Riga on Friday with both sides saying time is running short to keep Greece afloat.

  • Is Greece spiralling out of control?   Friday, 17 Apr 2015 | 11:00 AM ET
    Is Greece spiralling out of control?

    Peter Rosenstreich, chief FX analyst at Swissquote Bank, says the negotiations between creditors and Greece may not end well.

  • Faber: 'Greece should default'   Friday, 17 Apr 2015 | 4:00 AM ET
    Faber: 'Greece should default'

    Marc Faber, editor and publisher at The Gloom, Boom & Doom Report, says a "Grexit" is more of a political issue than an economical one.