Euro bailout bond attracts strong demand

2011-12-13T09:30:29Z

There was strong demand for an issue of short-term bonds by the eurozone's bailout fund, the EFSF, data published by Bundesbank showed on Tuesday.

The European Financial Stability Facility raised 1.972 billion euros ($2.6 billion) from an issue of three-month bills, the German central bank said in a statement.

Exclusive: Commerzbank in state aid talks

2011-12-12T11:00:34Z

FRANKFURT (Reuters) - German lender Commerzbank and the government have been in talks for several days over possible state aid, five people familiar with the matter told Reuters on Monday.

The aim was to reach an agreement in principle by Christmas, coalition sources said o...

Greece opens bailout, debt swap talks

2011-12-12T04:00:12Z

ATHENS (Reuters) - Greece began a round of talks with the EU, the IMF and bankers on Monday, with negotiators facing a tight timetable to decide key aspects of a new bailout plan to pull the country out of its economic crisis.

Inspectors from the EU, the ECB and t...

Greece braces for troika scrutiny and creditor talks

2011-12-11T10:00:05Z

ATHENS (Reuters) - Inspectors for Greece's international lenders and private creditors kick off a round of meetings with the government on Monday to prepare for a new 130-billion euro ($173.75 billion) bailout plan and bond swap scheme to keep the country afloat.

Greece narrowly averted bankruptcy this month after foreign lenders agreed to release ...

Ford brings back dividend after 5-year gap

2011-12-08T14:00:19Z

DETROIT (Reuters) - Ford Motor Co restored its dividend for the first time in five years on Thursday, with a quarterly payout of 5 cents per share that the No. 2 U.S. automaker said it could maintain during any future downturn.

The dividend, payabl...

EU bank capital hole deepens to 115 billion euros

2011-12-08T12:30:16Z

FRANKFURT (Reuters) - Europe's banks must find 114.7 billion euros of extra capital, more than predicted two months ago, to make them strong enough to withstand the euro zone debt crisis and restore investor confidence.

Euro...

IMF approves 2.2 billion euros for Greece

2011-12-05T18:30:32Z

The IMF on Monday released 2.2 billion euros ($3.96 billion) in rescue funds for Greece, giving a nod to new Prime Minister Lucas Papademos's commitment to a tough reform program.

Delayed for months by political turmoil that led to the early November downfall of prime minister George Papandreou, the ...

EU Commission extends bank aid rules, cites market tensions

2011-12-01T05:30:45Z

BRUSSELS (Reuters) - European Union regulators extended looser rules allowing governments to bail out troubled banks until market conditions improve, citing the sovereign debt crisis and banks' resulting funding difficulties for the move.

New guidelines, valid from January...

Analysis: IMF can no longer avoid bigger role in euro zone

2011-11-18T15:30:30Z

WASHINGTON (Reuters) - The International Monetary Fund is inserting itself more forcefully into Europe's efforts to resolve its debt crisis, hoping to stem a contagion that is spreading worldwide and threatening global growth.

Uncertainty...

New threat to bailout as Greek right rejects more austerity

2011-11-14T14:00:17Z

ATHENS (Reuters) - Greece's conservatives vowed on Monday to reject any new austerity measures in return for the aid that is keeping Athens from bankruptcy, signaling a new coalition government may not enjoy the kind of cross-party support its lenders demand.

New technocrat ...

New threat to bailout as Greek right rejects more

2011-11-14T13:00:19Z

New technocrat ...

IMF chief Lagarde visits Japan

2011-11-11T06:00:39Z

The head of the International Monetary Fund arrived in Tokyo on Friday, where she will meet Japan's finance minister and the central bank chief for talks likely to be dominated by Europe's debt crisis.

IMF chief Greece were dashed again Wednesday after politicians failed to agree on a surprise candidate amid intense pressure with bankruptcy only weeks away.

A source said that negotiations between the two main parties had collapsed, as the president announced a fourth day of talks to form a government and name a leader tasked with hauling Greece out of a debt crisis that threatens

Talks on Greek coalition drag into third day

2011-11-09T05:30:14Z

Talks on the creation of a unity government to pull Greece out of a debt quagmire dragged into a third day Wednesday after hitting a hurdle over EU demands on a desperately needed rescue package.

Political leaders failed Tuesday to name a power-sharing coalition and new prime minister after the conservative opposition rejected EU insistence that a new government agrees to the ter...

China fund official slams 'indolence' in Europe

2011-11-07T11:00:45Z

A top official of China's $400 billion sovereign wealth fund has accused Europe of "indolence" and said any Chinese investment in the debt-laden region would be based on financial returns.

Jin Liqun, chairman of the board of supervisors of China Investment Corp, slammed the welfare sys...

China waits for clarity on EU bailout fund

2011-11-07T09:02:05Z

China said on Friday it would seek more clarity before investing in an EU bailout fund, as the head of the scheme held talks in Beijing to try to win the help of the world's second-largest economy.

Expectations for a strong commitment from Beijing over Europe's debt crisis had bee...

Analysis: EU-prescribed coalition gives Greece short-term relief

2011-11-07T03:01:03Z

ATHENS (Reuters) - The European Union stepped in to force Greece's political parties into a coalition that will save the country from immediate default but the bickering that marked the negotiations bodes ill for Greece's place in the euro zone...

AIG makes $972 million TARP repayment to Treasury

2011-11-01T13:30:19Z

WASHINGTON (Reuters) - The Treasury Department received a $972 million repayment from American International Group , funded by proceeds from the sale of AIG'S American Life ...

Japan to buy more EFSF bonds: Europe fund chief

2011-10-30T20:30:11Z

TOKYO (Reuters) - The head of Europe's bailout fund, in Asia on a tour for potential investors, said on Monday he had been reassured by Japan's top currency official that Tokyo would continue to buy its bonds.

Eur...

Asian shares rise on European debt talks

2011-10-24T08:30:27Z

Asian shares surged on Monday after weekend meetings of European leaders resulted in "good progress" on tackling a regional debt crisis that has threatened to plunge the world economy into recession.

The eurozone wants to beef up its 440-billion-euro ($610 billion) rescue fund, the European Financial Stability Fac...

EU leaders seek crisis plan as pressure mounts on Italy

2011-10-22T20:30:13Z

Europe aimed to nail down a solution to the worst economic crisis in its history Sunday, as the spotlight at an emergency meeting of EU leaders fell on Italy amid contagion fears in the eurozone.

Ahead of the crunch summit, keenly watched around the world as concerns grew that the eurozone...

German Bundesbank sees risks in leveraging EU bailout fund

2011-10-20T15:30:27Z

A Bundesbank board member warned Thursday of risks for taxpayers in leveraging the EU's debt bailout fund and said assigning it a lower credit rating would be a better way of boosting its firepower.

"Everybody must be clear on this -- leveraging mechanisms increase the risks for the taxpayer," said Andreas Dombret, a member of the German central bank's executive board.

"Contrary to leverage, giving up on...

Franco-German agreement on euro fund: Berlin

2011-10-20T09:30:37Z

Germany's finance minister said on Thursday there was "complete agreement" between Paris and Berlin on the EU's bailout fund but that no accord had yet been clinched at a European level.

"France and ...

Germany mulls raising EU bailout fund: paper

2011-10-19T04:30:12Z

German Finance Minister Wolfgang Schaeuble has suggested the firepower of the EU's bailout fund could be increased to one trillion euros ($1.38 trillion), the Financial Times Deutschland reported Wednesday.

Europe i...

EU provisionally OKs Dexia Bank Belgium nationalisation

2011-10-17T13:30:56Z

European competition authorities on Monday gave temporary approval to Belgium's nationalisation of Dexia's Belgian unit under a rescue plan of the Franco-Belgian banking group.

The European Commission gave the Belgian government six months to provide a new restructuring plan for Dexia Bank Belgium, saying it...

ECB to end bond-buying when markets stabilize: Trichet

2011-10-15T10:30:18Z

PARIS (Reuters) - The European Central Bank signaled on Saturday it would not abruptly end its bond-buying program now that the euro zone bailout fund EFSF has powers of secondary market intervention and would wait until financial markets stabilize.<...

IMF needs around $350 billion more capital: G20 source

2011-10-14T06:30:27Z

PARIS (Reuters) - The International Monetary Fund may need a capital injection of about $350 billion to give it more firepower to fight economic crises, an emerging market G20 source said on Friday.

The senior delegation source said ...

EU presses banks to beef up coffers

2011-10-12T19:30:36Z

The European Union pressed banks to urgently beef up their coffers against the crisis as it raced to revamp the eurozone debt rescue fund after winning a reprieve from Slovakia.

Europe breathed easier after Slovak parties agreed to hold a new vote this week on overhaulin...

Brown urges large increase in eurozone fund

2011-10-12T04:30:15Z

The eurozone needs a rescue fund of about two trillion euros -- almost five times its current size -- to overcome its crisis, Gordon Brown said Wednesday.

His comments come just hours after Slovakian lawmakers voted against an expansion of the European Financial Stability...

Exclusive: Europe hits banks with tougher capital test

2011-10-11T07:01:02Z

FRANKFURT (Reuters) - Europe's banks will have to achieve a significantly stronger capital position under a quick-fire regulatory health check and may need to raise some 100 billion euros ($137 billion), banking and regulatory sources said on Tuesday.

The European Banking Authority (EBA...

ESRB's Trichet says crisis systemic, risks rising

2011-10-11T01:30:07Z

FRANKFURT (Reuters) - The sovereign debt crisis has become systemic and risks to the economy are increasing swiftly, European Systemic Risk Board Chairman Jean-Claude Trichet said on Tuesday.

Trichet, who heads the Dexia became the first bank to need bailing out with lenders caught in a squeeze triggered by the sovereign debt crisis.

While Europe's strategy had long been to exact austerity in exchange for loans to keep over-extended governments afloat, a fierce recession in Greece and the risi...

Under-pressure Europe postpones key debt summit

2011-10-10T17:30:28Z

Europe's leaders postponed Monday a key summit on the debt crisis, buying more time as they decide what to do about Greece now that their banks also need a financial leg-up.

Greece completed an audit which will be key to determining whether it gets further bailout funding, but its finance minister said Athens now expects a deeper writedown of its debt in a second rescue that <...

Europe battles to save banks as Dexia rescued

2011-10-10T10:30:38Z

Belgium, France and Luxembourg decided on Monday to dismantle Dexia, the first bank to fall in Europe's debt crisis, as the eurozone prepared a battle-plan to protect its banking system.

It was the second time in three years that Dexia needed to be r...

Europe eyes bolstering banks ahead of debt storm

2011-10-08T09:00:17Z

DUBLIN/FRANKFURT (Reuters) - European banks may need more than 100 billion euros ($135 billion) to withstand the sovereign debt crisis, Ireland estimated on Saturday ahead of a meeting between BRUSSELS/LONDON (Reuters) - The European Union executive flagged plans for a coordinated injection of funds into the region's banks as regulators met to reassess the resilience of stressed lenders amid fears others might face the same fate as debt crisis victim Dexia.

"We ...

EU works on bank capital, Geithner sees crisis risk

2011-10-06T07:00:25Z

BRUSSELS/BERLIN (Reuters) - European Union moves to shore up ailing banks moved into higher gear on Thursday and U.S. Treasury Secretary Timothy Geit...

EU's Barroso wants coordinated bank recapitalization

2011-10-06T03:00:12Z

BRUSSELS/LONDON (Reuters) - The European Union's executive proposed coordinated recapitalization of banks on Thursday as the bloc's regulators met to review capital buffers of stressed lenders.

"We are now proposing member states to have a coordinated action to recapitalize banks and s...

IMF's Borges: Europe's banks need up to 200 billion euros

2011-10-05T08:00:08Z

BRUSSELS (Reuters) - The International Monetary Fund urged Europe on Wednesday to pump as much as 200 billion euros into its banks and warned of a freeze in lending and an ensuing recession if the region's lea...

Special Report: Europe's Debilitating Deja Vu

2011-10-05T06:00:36Z

How a host of divisions caused a seemingly unending string of setbacks to a deal for a new Greek bailout. First of three parts.

By Luke Baker, Paul Taylor and Dina Kyriakidou

BRUSSELS (Reuters) -...

Greek gloom rocks markets, troubles lenders

2011-10-03T03:00:08Z

ATHENS (Reuters) - Greece's admission that it will miss its deficit targets this year and next despite harsh new austerity measures sent stock markets reeling on Monday and raised new doubts over a planned second international bailout.

The gloomy news from Athens brought the...

ECB's Noyer doesn't expect bigger EFSF

2011-10-02T19:30:09Z

TOKYO (Reuters) - European Central Bank member Christian Noyer said on Monday it is unrealistic to expect an increase in Europe's bailout f...

Germany 'won't give more to EU bail-out fund'

2011-10-01T06:30:11Z

German Finance Minister Wolfgang Schaeuble ruled out Germany contributing any more money to the beefed-up EU bail-out fund than the 211 billion euros approved by parliament, in an interview published Saturday.

"The Spain sealed a 7.55-billion-euro ($10.2 billion) overhaul of its banking sector Friday, securing savings banks that nearly bankrupted the country in the wake of the 2008 global financial crisis.

Bank of Spain governor Miguel Angel Fernandez Ordonez said 568 million euros went to Unnim, 2.47 billion euros to NovaCaixaGalicia and 1.72 billion euros to CatalunyaCaixa from a...

Fast TARP exit meant less capital for some banks: U.S. audit

2011-09-29T21:30:05Z

WASHINGTON (Reuters) - Some large U.S. banks would have stronger capital bases to better deal with today's market stresses had regulators not relaxed bailout repayment criteria in late 2009, a new government audit showed on Friday.

Bank of America<...

Europe 'scaring world' over Greece failures: Obama

2011-09-27T04:30:48Z

Europe's failure to tackle crippling Greek debt is "scaring the world," US President Barack Obama warned as Germany rejected plans to boost funding for the EU's debt rescue facility.

Asian stocks rallied sharply Tuesday, following a see-sawing recovery on US and European markets ...

Premature euro rescue talk buoys markets

2011-09-27T04:30:19Z

BERLIN/PARIS (Reuters) - Talk of beefing up the euro zone's bailout fund lifted stocks on Tuesday but complicated the debate in Germany where Angela Merke...

Europe 'scaring' Obama as global recession lurks

2011-09-26T21:30:09Z

Europe's failure to tackle crippling Greek debt is "scaring the world," US President Barack Obama warned as Germany stoked fears Tuesday of a worldwide plunge back into recession.

Obama spoke out after Berlin shot down moves to boost debt rescue funding, bursting...

Japan may buy more European bonds: minister

2011-09-26T20:30:40Z

Japan may purchase more European rescue bonds if a proper system is put in place to bail out the continent's debt-riddled economies, according to the finance minister.

"If there is any scheme that could help ease tensions worldwide, including financial markets, over the rescue of Greece, I will not reject the possibility that Japan will share some of the burden," Jun Azumi told report...

France seen moving towards bank bailout

2011-09-26T06:30:14Z

PARIS (Reuters) - Investors and analysts who think a government bailout for the troubled French banking sector is increasingly likely are focusing on what form any aid could take, even as banks continue to deny they need state help.

The possibility of a bailout jumped from speculation to something much more concrete at the weekend after Greece and the euro are facing a tough week as European Union and IMF experts resume an audit of progress on cutting the public deficit and reforming the economy, with default threatening.

The EU and IMF will decide on the basis of the audit whether to release the next slice of rescue funds of 8...

Euro zone considers leveraging EFSF: EU's Rehn

2011-09-24T12:30:17Z

WASHINGTON (Reuters) - The euro zone is exploring the possibility of leveraging its bailout fund, the European Financial Stability Facility, to better support euro countries, Economic and Monetary Affairs Commissioner

IMF warns on private-sector deal for Greece

2011-09-23T19:30:32Z

The International Monetary Fund warned Friday that Europe should not put through a 50 billion euro ($67 billion) private-sector restructuring plan for Greek bonds until Athens gets its economy back on course.

Antonio Borges, head of the IMF's European department, voiced caution ab...

Europe, under fire, seeks to get ahead of crisis

2011-09-23T12:30:16Z

WASHINGTON (Reuters) - European policymakers showed signs they were preparing new steps to cope with the region's debt crisis even as talk of a possible Greek default gained pace on Friday.

World stock markets, which had plunged to a 14-month low on fears the euro zone crisis was not under control, rallied after BRUSSELS (Reuters) - European banks have already received 420 billion euros in funds to help recapitalize and are in a much better shape than three years ago, the European Commission said on Friday.

"The recapitalization of European banks is something that is ong...

Greece sees possibility of 50 percent haircut on debt: reports

2011-09-23T01:00:07Z

ATHENS (Reuters) - Greece's finance minister has told lawmakers he sees three scenarios to resolve the debt crisis, including one involving an orderly default with a 50 percent haircut for bondholders, two Greek newspapers reported on Friday.

A government spokesman dismissed the reports, which said the other scenarios would be a disorderly default ...

Geithner certain euro zone will boost bailout fund

2011-09-22T15:00:16Z

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Thursday he was sure Europe would boost the firepower of its bailout fund to contain the debt crisis as pressure on Europe grew to act decisively to calm markets.

Geithner traveled to Europe tw...

EBA says bank recapitalization timetable stands

2011-09-22T14:30:27Z

LONDON (Reuters) - Europe's banking regulator said there were no plans to force more than a dozen weaker mid-tier banks to raise capital more quickly, saying an original timetable remained in place.

Late on Thursday, the Financial Times, citing officials, reported that European regulators look set to speed up plans to reca...

Bond giant PIMCO closing in on first bank deal

2011-09-22T07:00:30Z

NEW YORK (Reuters) - A $2.3 billion investment fund managed by bond giant Pacific Investment Management Co that is largely targeting distressed U.S. banks is trying to get regulatory approval for one of its first major transactions -- a deal involving a Reuters) - Europe's debt crisis has increased the risk exposure of banks in the region by 300 billion euros ($410 billion) and they need to recapitalize to ensure they can weather potential losses, the International Monetary Fund said on Wednesd...

Ireland sells debt-hit property tycoon's Warhol painting

2011-09-19T14:30:46Z

Ireland's state-run "bad bank" said Monday it would sell 14 paintings, including a work by Andy Warhol, which reportedly came from the private collection of a tycoon hard hit by the property crash.

The state-owned National Assets Management Agency (NAMA), set up to take over...

Greek PM postpones New York trip over debt crisis

2011-09-17T13:30:18Z

Greek Prime Minister George Papandreou has postponed a planned visit to New York so he can focus on securing the next tranche of bailout funds, his office said Saturday.

Papandreou had taken the decision as "next week is particularly crucial", his office said. The premier had been due to head to New York on Saturday to attend the Finance Minister Wolfgang Schaeuble rapped his colleague's handling of the economy Saturday for talking about Greek default, exposing a growing rift in Chancellor Angela Merkel's coalition.

Schaeuble, a member of Merkel's Christian Democrat party and one of the most influential ministers in her cabinet, took issue with Philipp Roesler, le...

Portugal meeting bailout targets: IMF

2011-09-13T19:30:21Z

The International Monetary Fund said Tuesday that Portugal was meeting the targets of the European Union-IMF bailout plan, but faced real risks from global market turmoil.

It also called on Lisbon to work harder to control spending and...

Greece may ask for second bailout to expire earlier: report

2011-09-06T00:30:10Z

ATHENS (Reuters) - Athens may ask its euro zone partners that its second bailout, agreed by EU leaders in July, expire a year earlier than currently planned because of a higher than expected deficit, ne...

ECB's Trichet convinced Greece will take action

2011-09-05T14:00:06Z

PARIS (Reuters) - ECB President Jean-Claude Trichet said on Monday he was convinced the Greek government would take the decisions required to keep its EU-IMF bailout on track, but it had very little time to do so.

Trichet also admitted th...

Iceland says it was "bullied" over bank debt

2011-09-04T13:00:06Z

REYKJAVIK (Reuters) - Iceland's president accused European countries on Sunday of having bullied it into agreeing to guarantee repayment of the debts of a failed bank, reviving a dispute with Britain and BRATISLAVA (Reuters) - The Slovak parliament will vote on strengthening the euro zone joint rescue fund in December at the earliest, the head of junior government party said on Sunday, prolonging uncertainty over when the new powers could take effect.

BERLIN (Reuters) - The interruption of talks between Greece and international lenders on a new aid tranche is a blow to the stability of Europe's currency, the deputy leader of International Monetary Fund on Friday said it was releasing to Ireland 1.48 billion euros ($2.11 billion) in the newest step of the country's joint EU-IMF bailout program.

The IMF said Ireland had maintained "resolute implementation" of the economic restructuring program aimed at reducing ...

ECB's Coene says crisis heading to 2008/9 level: report

2011-09-01T23:00:05Z

BRUSSELS (Reuters) - The problems of liquidity and confidence in Europe are not as severe as during post-Lehman crash, but are heading in that direction, ECB Governing Council member Luc Coene sa...

Analysis: IMF's Lagarde shows independence from Europe

2011-09-01T10:00:15Z

WASHINGTON (Reuters) - New IMF chief Christine Lagarde's call for a mandatory recapitalization of European banks struck a raw nerve in Europe and showed she is not afraid to challenge her former peers.

The message Lagarde delivered from the Reuters) - New IMF chief Christine Lagarde's call to recapitalize European banks by force struck a nerve among the continent's Europe's policymakers and showed she is not afraid to challenge her former peers as many feared she might be.

The message Lagarde de...

Europe snubs IMF call to force-feed bank capital

2011-08-29T06:00:19Z

BRUSSELS/FRANKFURT (Reuters) - Europe gave a cool reception to a demand from the International Monetary Fund's new head US Treasury said Thursday it had recovered nearly $900 million during the first six months of the year in taxpayer money used to bail out the banking system during the financial crisis.

The Treasury said it had received more than $886 million by June 30 from the Italy's economy is too big to be rescued by the European stability fund, German weekly Der Spiegel is to report on Sunday.

According to the report, details of which were released before publication, doubts are growing within the German government that the 440-billion-euro ($625 billion) Finance Minister Philipp Roesler has reiterated Germany's irritation at calls from European Commission president Jose Manuel Barroso for a reassessment of the eurozone rescue fund.

...

New Indonesia party backs Mulyani for president

2011-08-03T09:30:26Z

Supporters of World Bank managing director Sri Mulyani Indrawati registered a new political party on Wednesday to promote the Indonesian economist as a possible presidential candidate in 2014.

Serikat Rakyat Independen (People United Independent) has SRI as its acronym and the express goal of putting the former finance minister into the p...

Analysis: Investors become more positive on Ireland

2011-07-29T08:01:46Z

DUBLIN/LONDON (Reuters) - Ireland's insistence that it is different from Greece and the rest of the euro zone periphery appears finally to be striking a chor...

Greek debt swap process to start in August: deputy finmin

2011-07-25T23:30:06Z

ATHENS (Reuters) - Procedures for a voluntary swap of privately-held Greek government bonds for longer maturity paper will start in August, Greece's deputy finance minister said on Tuesday.

"Yes, this procedure will start in August," Deputy Finance Minister Filippos Sachinidis told Mega TV.

Greece's private sector cr...

Bank of Ireland set to escape majority state control

2011-07-25T12:30:54Z

The Bank of Ireland has won a 1.12-billion-euro ($1.6-billion) injection from private investors in a deal to keep the nation's largest lender out of majority state ownership, the government said on Monday.

"The Minister for Finance, Michael Noonan, today welcomed the successful conclusion of negotiations by the government with a group of investors," said a statement from the Department of Finance...

Greek deal won't mean austerity for France: finance minister

2011-07-23T06:00:05Z

PARIS (Reuters) - France will not need to introduce austerity measures in response to increased debt exposure from the euro zone's new rescue plan for Greece, its finance minister said on Saturday.

Ireland flags extension of bailout beyond 2013

2011-07-22T10:00:12Z

DUBLIN (Reuters) - Euro zone countries have agreed to keep funding Ireland beyond 2013 if it is not able to tap debt markets, Finance Minister Michael Noonan said on Friday, signaling for the first time doubts abou...

Fiat steers Chrysler free of US, Canadian bailouts

2011-07-21T18:30:23Z

Italian automaker Fiat has steered Chrysler through US and Canadian bailout exits, the two governments announced Thursday, earning itself a majority stake in the revived US firm.

Fiat paid $500 million for the US Treasury's remaining six percent stake in Chrysler and $60 m...

Summers urges aggressive euro zone crisis response

2011-07-17T18:30:09Z

WASHINGTON (Reuters) - Former White House aide Lawrence Summers on Sunday urged Europe to take a more aggressive response to the debt crisis sweeping the region and suggested patience with it...

Ireland seeks euro bonds as part of crisis solution

2011-07-17T06:30:08Z

DUBLIN (Reuters) - Ireland would like to see the euro zone issue common bonds as part of the solution to the bloc's debt crisis, the Irish deputy prime minister said on Sunday.

"It is an option I favor. It is one of a ser...

Instant view: Eight banks fail European stress tests

2011-07-15T10:31:14Z

LONDON (Reuters) - Eight European banks are not strong enough to withstand a prolonged recession and need to raise 2.5 billion euros in capital, an industry health check aimed at reviving investor confidence showed on Friday.

The European Banking Authority said 16 other banks had core capital of between 5 and 6 percent and will have to take action to improve capital buffers.

...

EU bank stress tests spotlight eurozone debt crisis

2011-07-15T07:30:10Z

The European Union will on Friday publish the results of major stress tests on Europe's troubled banking sector, facing pressures from the eurozone debt crisis now affecting Italy and Spain.

The European Banking Authority, the EU's

Exclusive: China to conduct first stress tests on brokerages

2011-07-13T01:00:15Z

SHANGHAI (Reuters) - China is preparing to conduct its first-ever stress test on the brokerage industry this year to ward off potential risks arising from a possible deterioration in the economic or market environment, three sources with direct knowledge of the plans told Reuters.

China's securities wat...

Japan idled reactors could restart after stress test 1st stage

2011-07-10T19:30:17Z

TOKYO (Reuters) - Japan's idled nuclear reactors could resume operations after passing the initial stage of stress tests to be conducted to ensure safety and reassure the public after the Fukushima disaster, the government said on Monday.

Japanese...

EU's Van Rompuy calls emergency debt crisis talks

2011-07-10T05:30:05Z

BRUSSELS (Reuters) - European Council President Herman Van Rompuy has convened an emergency meeting of top EU officials for Monday morning to discuss efforts to assemble a second rescue package for

Belgium Europe Financial Crisis

2010-12-23T09:30:49Z

Portugal's Prime Minister Jose Socrates arrives for an EU summit in Brussels, Friday, Dec. 17, 2010. European Union leaders are changing the treaty that underpins the bloc to make room for a huge new rescue system for countries that get into debt trouble in the long term. But they aren...

Bailout Geithner

2010-12-16T16:31:08Z

Treasury Secretary Timothy Geithner, foreground, testifies about TARP during a hearing of the Congressional Oversight Panel, on Capitol Hill in New York. Bailed-out insurance conglomerate American International Group Inc. is taking a key step toward paying off a bailout that was at one point worth $182 billion _ the largest of the financial crisis. The company says in a public filing Wednesday, Dec. 8, 2010, that it will repay ...

Ireland Financial Crisis

2010-11-25T06:31:26Z

Irish Prime Minister Brian Cowen, and Irish Finance Minister Brian Lenihan, right, arrive to speak to the media at government buildings, Dublin, Ireland, Wednesday, Nov. 24, 2010. Ireland unveiled the harshest budget measures in its history Wednesday, a four-year plan to slash ...

News on Financial Rescue Plans

Greece close to bond swap deal: finance minister

Japan buys 13% of eurozone rescue fund sale