Economic Regions PIIGS

  • The government said Wednesday it has won provisional approval from European authorities to recapitalize Portugal's biggest bank by assets, state-owned Caixa Geral de Depositos, with 5.1 billion euros. The government will inject 2.7 billion euros into CGD, the Finance Ministry said in a statement. Also, it will convert 960 million euros' worth of...

  • Italy has a lot to gain from a reinvigorated EU as it copes with flat GDP, the migrant crisis and political uncertainties over a constitutional referendum this fall on which Renzi has staked his government's survival. The island of Ventotene off Naples, filled with sun-worshipping tourists in the waning days of summer, was where detained anti-fascist Altiero...

  • LONDON, Aug 12- Euro zone economic growth halved in the second quarter to a modest pace, as a mild slowdown in Germany was overshadowed by a surprise stagnation in Italy, offering scant hope of a decisive rebound for the currency bloc as a whole any time soon. The 0.3 percent quarterly expansion, or 1.6 percent annual pace, matched expectations in a Reuters poll of...

  • The index extended gains after the Bank of England cut interest rates for the first time since 2009, while Britain's FTSE turned higher and was up 1.4 percent. "Today's BoE action is a significant step in attempting to support the UK," said Nandini Ramakrishnan, Global Market Strategist at JP Morgan Asset Management. The prospect of lower rates and more monetary...

  • TUESDAY, AUGUST 2 BEIJING- Federal Reserve Bank of Dallas President Robert Kaplan speaks on "Economic Conditions and Implications for Monetary Policy" before the Official Monetary and Financial Institutions Forum City Lecture event- 1015 GMT. DUBLIN- Ireland's central bank Governor Philip Lane makes first post-Brexit speech- 1145 GMT.

  • DUBLIN, Aug 1- Surprisingly poor EU stress test results have been a reminder that Irish banks need a few more years of strong economic growth to complete their post-crisis rehabilitation, a prospect Brexit may complicate. Nevertheless the tests represent a speedbump to a sector the International Monetary Fund said last week had strengthened significantly...

  • TUESDAY, AUGUST 2 BEIJING- Federal Reserve Bank of Dallas President Robert Kaplan speaks on "Economic Conditions and Implications for Monetary Policy" before the Official Monetary and Financial Institutions Forum City Lecture event- 1015 GMT. DUBLIN- Ireland's central bank Governor Philip Lane makes first post-Brexit speech- 1145 GMT.

  • Speakers: Reserve Bank of India Governor Raghuram Rajan, Swiss National Bank Chairman Thomas Jordan, Monetary Authority of Singapore Managing Director Ravi Menon, Bank Indonesia Deputy Governor Perry Warjiyo, IMF Deputy Managing Director Mitsuhiro Furusawa, Bank of Philippines Governor Amando Tetangco and Federal Reserve Bank of New York President...

  • *European Central Bank approves bailout plan- sources. MILAN/ SIENA, July 29- The European Central Bank has approved a privately funded rescue of Italy's third-largest lender, Monte dei Paschi di Siena, three sources said on Friday, staving off the risk that regulators would be forced to wind up its business. Under the bailout plan to be unveiled later in the day,...

  • LONDON, July 29- Euro zone yields rose with other global bond benchmarks on Friday after the Bank of Japan unveiled new monetary stimulus that fell short of market expectations. The BOJ modestly increased purchases of exchange-traded funds, but maintained its base money target at 80 trillion yen. The Bank of England meets next week and is expected to cut rates...

  • ROME/ MILAN, July 25- Specialist Italian pension funds will consider a government request to pour money into a bank bailout fund at a meeting on Monday, days before European stress tests are expected to show the country's third-largest lender is in need of urgent capital. Monte dei Paschi, Italy's third-biggest bank by assets, is likely to be found short of capital...

  • Treasury Secretary Jack Lew said on Thursday that G20 finance officials do not need to take the same type of massive coordinated fiscal stimulus efforts used to combat recession in 2008-2009, despite an expected global economic growth slowdown sparked by Britain's vote to leave the European Union. Lew, speaking to reporters before flying to Chengdu, China...

  • July 21- Confidence in prospects for the global economy has been dented following Britain's vote to leave the European Union, with a growing view that monetary policy is a fading force and many governments now need to borrow and spend, Reuters polls showed. "Given how fragile the global economy is nearly eight years after the start of the global financial crisis,...

  • MONDAY, JULY 18 LONDON- Bank of England Monetary Policy Committee member Martin Weale speaks at the Resolution Foundation event on the topic "The implications of Brexit for monetary policy"- 0815 GMT. ALMERIA, Spain- Bank of Spain Governor Luis Maria Linde to open banking conference in Almeria- 0900 GMT. ATHENS- EU Commissioner Pierre Moscovici will meet Greek...

  • OKLAHOMA CITY, United States- Kansas City Fed President Esther George speaks on the U.S. economy before a luncheon for business and community leaders hosted by the Kansas City Fed- 1715 GMT. ST. LOUIS- Federal Reserve Bank of St. Louis President James Bullard meets press at the Official Monetary and Financial Institutions Forum, North American main meeting- 2220...

  • DUBLIN, July 10- Brexit worries are set to dominate the coming week, with Bank of England Governor Mark Carney stepping into the policy breach once more as Britain begins a two-month wait to find out the identity of its next Prime Minister. Data from the United States and China will meanwhile give an indication of how the world's top economies were placed on the eve...

  • Some of those anticipated returns look set to evaporate after Britain voted to leave the European Union on June 23, sending the value of sterling plunging as much as 13 percent and putting UK- dependent Irish exporters like the Nolans into an exchange rate-induced bind. Ireland, with the fastest-growing economy in Europe, is considered more vulnerable than...

  • Some of those anticipated returns look set to evaporate after Britain voted to leave the European Union on June 23, sending the value of sterling plunging as much as 13 percent and putting UK- dependent Irish exporters like the Nolans into an exchange rate-induced bind. Ireland, with the fastest-growing economy in Europe, is considered more vulnerable than...

  • *Spain, Portugal failed to correct excessive deficits in 2014-15. *Spain says will escape fine, set a new fiscal path. BRUSSELS, July 7- The European Commission began formal disciplinary procedures against Spain and Portugal on Thursday for their excessive deficits in 2014 and 2015, which may lead to fines for the two countries before the end of July.

  • BELGRADE- National Bank of Serbia announces interest rate decision- 1000 GMT. LISBON, Portugal- OECD Global Forum on Productivity: Structural Reforms for Productivity Growth. FRIDAY, JULY 8 LISBON, Portugal- OECD Secretary-General Angel Gurria and Portugal Finance Minister Mario Centeno to attend OECD Global Forum on Productivity: Structural Reforms for...