bailout - updates

Rappler's latest stories on bailout


Eurozone approves 2.8B euros in bailout funds for Greece

Oct 25, 2016 - 4:05 PM

Following the latest disbursement approved by the European Stability Mechanism ESM Greece will have received 31 7 billion euros of the 86 billion euro bailout granted in July 2015

A man withdraws cash from an ATM machine in Athens on July 19, 2016. Kostis Ntantamis/AFP

New Greek bailout finds IMF in a political bind

Aug 02, 2016 - 3:00 PM

If the International Monetary Fund bails Greece out again some will surely see Europe s hand pulling the strings

epaselect epaselect epa04845996 An old man stands outside a shop selling Greek and European flags in central Athens, Greece 14 July 2015. Greece's deal with its creditors keeps the country in the European Union, Prime Minister Alexis Tsipras said after eurozone leaders agreed to a new bailout programme. EPA/YANNIS KOLESIDIS

IMF: Greece still at long-term risk despite bailout deal

May 26, 2016 - 2:45 PM

The International Monetary Fund says it cannot add its loans to the bailout as long as there s still no detailed debt relief plan

epa04848890 The Greek flag is binded up with a parcel string to illustrate the topic 'bailout package' in Kaufbeuren, Germany, 16 July 2015. With the ECB having already said 16 July 2015 that it left its benchmark refinancing rate on hold at an historic low of 0.05 per cent, ECB has decided to boost emergency aid - namely the Emergency Liquidity Assistance (ELA) scheme - to Greece's crisis-hit banks after the parliament in Athens agreed overnight to a round of tough reforms. EPA/KARL-JOSEF HILDENBRAND

IMF: Greece needs 'unconditional' debt relief from EU creditors

May 24, 2016 - 12:50 PM

The International Monetary Fund says creditors should fix interest rates on Greek debt at no more than 1 5

epa05323683 Demonstrators stage a rally in front of the Greek Parliament during a protest in Athens, Greece, 22 May 2016. The demonstration was called by trade unions to oppose an omnibus bill tabled by the government that includes the prior actions required by Greece's lenders to close the program review. EPA/ORESTIS PANAGIOTOU

Greek parliament approves controversial pension, tax reforms

May 09, 2016 - 8:11 AM

As expected all the opposition parties voted against the bill which will reduce Greece s highest pension payouts merge several pension funds among others

GREECE. A demonstrator is covered with a European Union flag during a pro euro rally in front of the Greek Parliament in Athens Greece, 09 July 2015. Photo by Fotis Plegas G./EPA

Greece paralyzed by strike over pension reforms and tax hikes

May 07, 2016 - 12:20 AM

Metro tram and bus systems in the country all grind to a halt as part of a 48 hour strike

epa05291881 Demonstrators protest against reforms on the pension and the tax system by the Greek government, Athens, 06 May 2016. Greece's largest trade union organisations, including the General Confederation of Employees of Greece (GSEE) and the civil servants' union federation (ADEDY), announceda day before a strike action against the draft bill on pension and tax reforms that is to be voted on over the weekend. GSEE announced a 48-hour general strike, accusing the government of a carrying out a parliamentary coup, through its sudden decision to bring forward the debate on the draft bill forward to the weekend using fast-track procedures. EPA/PANTELIS SAITAS

IMF chief says Greece plan 'good distance away' amid leaks row

Apr 04, 2016 - 1:00 PM

The IMF conducts its negotiations in good faith not by way of threats and we do not communicate through leaks says Christine Lagarde

epa05237608 International Monetary Fund (IMF) President Christine Lagarde attends the Seminar on International Financial Questions at the French Economy and Finance Ministry in Paris, France, 31 March 2016. EPA/ETIENNE LAURENT

2,500 demonstrate in Athens against pension reform

Jan 16, 2016 - 10:07 PM

Greece is under pressure from its bailout creditors in the European Union and IMF to reduce spending on pensions the highest in the EU

Greece reaches deal to unlock further bailout funds

Dec 12, 2015 - 12:42 PM

This round of funding is contingent on reaching an agreement on the terms of a privatization fund and the sale of electricity distributor Admie

DEAL REACHED. Greek Prime Minister Alexis Tsipras (R) answers questions of a member of parliament about the refugee situation, during a parliament session in Athens, Greece, December 11, 2015. Photo by Orestis Panagiotou/EPA

Greece passes 'tough' austerity-extending 2016 budget

Dec 06, 2015 - 9:23 AM

Behind the numbers anybody can see the agonizing effort to support the working classes says Prime Minister Tsipras

PASSED. Greek Finance Minister Euclid Tsakalotos (L) and Prime Minister Alexis Tsipras (R) attend a parliament session prior to a budget vote in Athens, Greece, December 5, 2015. Photo by Yannis Kolesidis/EPA

Enrile’s bail, Recto’s degrees, LeBron in Manila | 6PM wRap

Aug 21, 2015 - 6:43 PM

Watch the 6PM edition of Rappler s newscast The wRap

Germany praises Greek stance shift in debt talks

Aug 16, 2015 - 5:52 PM

Germany s finance minister Wolfgang Shaeuble hails Greece but warns that Europe will closely monitor reforms in Athens

Eurozone approves Greek bailout in return for far-reaching reforms

Aug 15, 2015 - 9:58 AM

New loans of up to 86 billion euros 96 billion will be made available over the next 3 years to Greece says the European Commission

APPROVED. President of Eurogroup and Dutch Finance Minister Jeroen Dijsselbloem leaves after a special Eurogroup Finance ministers meeting on the Greek crisis. Eurozone finance ministers on August 14 approved Greece's third bailout package in five years moving within reach of a deal that will commit the near-bankrupt country to wide-reaching reforms in return for urgently needed funds. Photo by Julien Warnand/EPA

Greek PM calls party congress on bailout in September

Jul 30, 2015 - 11:36 PM

Tsipras is under pressure from a sizeable minority of Syriza members who say the agreement signed with international creditors goes against the government s anti austerity promises

New Greek bailout talks to begin Monday, July 27 –EU, IMF

Jul 27, 2015 - 12:49 AM

Technical teams from Greek s creditors will begin talks on Monday July 27 for a bailout package of up to 86 billion euros

EU CRISIS. A Greek and a European Union flag flutter in front of the Acropolis hill in Athens, Greece, July 7, 2015. Orestis Panagiotou/EPA

Greece, creditors to begin bailout talks Tuesday – govt source

Jul 26, 2015 - 7:16 AM

The source says talks to finalize the bailout deal would only begin on Tuesday July 28 though heads of missions would arrive a day or two later in Athens

NEGOTIATIONS. Talks from the creditors -- who have bailed Greece out twice already since 2010 -- have not set foot in Athens for more than a year as hostility has grown between the two sides. Photo from AFP

Greece creditors due in Athens 'in coming days'

Jul 25, 2015 - 12:18 AM

The officials from the European Commission European Central Bank and International Monetary Fund are due in Athens after Prime Minister Alexis Tsipras agreed to start talks on a new bailout for Greece

This photo taken in Athens on July 11, 2015 the map of Europe represented on a euro coin and banknotes. Photo by Aris Messinis/AFP

Greece to vote on bailout with ruling party revolt brewing

Jul 16, 2015 - 12:56 AM

The European Central Bank has been keeping Greek banks afloat with emergency liquidity but it could be forced to cut off that aid if Greece misses a huge debt repayment due on Monday

'THE END' Anti-establishment protesters stand in front of a banner that reads, 'The End' during a demonstration against European Union's austerity in front of the Greek parliament in central Athens, on July 12, 2015. Andreas Solaro/AFP

Punishing terms of Greek bailout deal

Jul 13, 2015 - 10:42 PM

Here are the key points of the statement issued by eurozone leaders after 17 exhausting hours of talks

Greek Prime Minister Alexis Tsipras arrives at his office in Athens just after flying in from Brussels on July 13, 2015. AFP Photo / Louisa Gouliamaki

Peña snubbed, Satoru Iwata, Djokovic’s win | 6PM wRap

Jul 13, 2015 - 6:33 PM

Watch the 6PM edition of Rappler s newscast The wRap

Greek parliament backs new debt reform plan

Jul 11, 2015 - 8:58 AM

UPDATED About 251 lawmakers out of 300 deputies back the package to keep the nation alive and in the European Union

KEEPING GREECE 'ALIVE.' Greek Prime Minister Alexis Tsipras (C) delivers his speech during a parliament vote concerning Greece's proposal to the lenders, at the parliament in Athens, Greece, early July 11, 2015. Photo by Yannis Kolesidis/EPA

Greece offering pension, tax reforms in return for debt relief

Jul 10, 2015 - 8:26 AM

The Greek government releases a 13 page document detailing its new bailout plan with proposals that closely resemble those put forward by Greece s international creditors before talks broke down last month

GREECE. A demonstrator is covered with a European Union flag during a pro euro rally in front of the Greek Parliament in Athens Greece, 09 July 2015. Photo by Fotis Plegas G./EPA

Putin watches on as Europe flounders over Greek crisis

Jul 07, 2015 - 10:41 PM

Russin President Vladimir Putin is among the first leaders that Greek Prime Minister Alexis Tsipras called to discuss his country s resounding No vote to a bailout plan

File photo by Alexey Nikolsky/RIS Novosti/Kremlin Pool/EPA

Greece won't leave eurozone, says Italian PM

Jul 03, 2015 - 11:12 AM

Italian Prime Minister Matteo Renzi says Greece will not exit the eurozone regardless of the outcome of the country s referendum this weekend

THE NO VOTE. Protesters hold a giant a Greek flag during a rally in Athens, Greece, 29 June 2015. Greek voters will decide in a referendum on 05 July whether their government should accept an economic reform package put forth by Greece's international creditors. Photo by Yannis Kolesidis / EPA

EU leaders urge Greeks to vote 'yes' to stay in euro as default nears

Jun 30, 2015 - 8:43 AM

A No would mean regardless of the question posed that Greece had said no to Europe says EU chief Jean Claude Juncker

GREXIT. EU Commission chief Jean-Claude Juncker reacts on the lack of progress in talks on Greece's bailout. Photo from Olivier Hoslet/EPA

Europe ejects Greek bailout extension after referendum shock

Jun 27, 2015 - 11:51 PM

UPDATED The decision leaves debt laden Athens struggling to meet a crucial 1 5 billion euro IMF debt payment on June 30 putting Greece s place in the single currency at risk

EU CENTRAL BANK. Time is running out for Greece. File photo by Daniel Roland/Agence France-Presse

Greece referendum kills bailout deal hopes –EU

Jun 27, 2015 - 10:26 PM

That is a sad decision for Greece because it has closed the door for further talks where the door was still open in my mind says Eurogroup leader Jeroen Dijsselbloem

REFERENDUM. A general view shows a TV screen displaying Greek Prime Minister Alexis Tsipras announcing a July 5 referendum, wherein voters will decide whether their government should accept an economic reform package put forth by Greece's creditors. Photo by Simela Pantzartzi/EPA

Greece debates referendum amid fears of run on banks

Jun 27, 2015 - 8:26 PM

The Greek prime minister s Syriza party urges Greeks to vote against the bailout program arguing it would worsen austerity in a nation already buckling under economic hardship

REFERENDUM. A general view shows a TV screen displaying Greek Prime Minister Alexis Tsipras announcing a July 5 referendum, wherein voters will decide whether their government should accept an economic reform package put forth by Greece's creditors. Photo by Simela Pantzartzi/EPA

Greece issues fresh warning on IMF payment in June

May 24, 2015 - 8:32 PM

A failure to honor the repayments could result in default raising the specter of a possible exit from the euro

IMF. A file photo dated May 18, 2011 showing the sign of the International Monetary Fund at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. Photo by Jim Lo Scalzo/EPA

Greek premier defiant as bailout talks enter 'homestretch'

May 24, 2015 - 12:04 AM

Greek PM Alexis Tsipras also accuses some creditors of taking advantage of Greece s cash asphyxiation and pledges he will not budge to irrational demands that involve crossing his government s red lines

DEFIANT. Greek Prime Minister Alexis Tsipras. File photo by Orestis Panagiotou/ EPA

Greece makes progress but warns of cash crunch

May 12, 2015 - 12:45 PM

Greek Finance Minister Yanis Varoufakis admits Athens faces an imminent crisis

An illustration photo of an artpiece made of cut out Greek euro coins, in Frankfurt/Main, Germany, February 23, 2015. Boris Roessler/EPA

Greece seeks eurozone nod but bailout deal ruled out

May 11, 2015 - 9:51 PM

Unfortunately there is not sufficient progress to reach a decision today whatever it is says Germany s powerful finance minister Wolfgang Schaeuble as he went into talks with his Greek counterpart Yanis Varoufakis

No new bailout needed if Greek debt restructured – minister

May 02, 2015 - 9:54 PM

However analysts believe that even if it manages to secure the last tranche of aid Greece may have to obtain a new rescue package to stay afloat

AFP file photo

EU, Germany raise 'Grexit' alarm over Greece bailout

Mar 14, 2015 - 1:52 PM

Frustrations with the Greek government are mounting among its 18 fellow eurozone members after Athens renewed its claim to Germany for World War II debts seen as outlandish by its partners

GREXIT. EU Commission chief Jean-Claude Juncker reacts on the lack of progress in talks on Greece's bailout. Photo from Olivier Hoslet/EPA

Greece must 'stop wasting time' in bailout talks: Eurogroup chief

Mar 09, 2015 - 11:14 PM

We shouldn t waste so much time The extension is only for four months and the clock is ticking says Eurogroup chief Jeroen Dijsselbloem

EU CENTRAL BANK. The ECB on says it is prepared give leeway on financing Greece when the government reaches a debt deal with its eurozone partners. Photo by Daniel Roland/AFP

Epic change? Greece's proposed reforms list

Feb 24, 2015 - 9:44 PM

The program includes a raft of measures aimed at tackling corruption and improving tax collection the social security system and government bureaucracy

GREECE. A man walks in the reception hall as an electronic board shows share prices at the Stock Exchange in Athens, Greece, 24 February 2015. Photo by Yannis Kolesidis/EPA

Greece wins eurozone bailout deal with strict conditions

Feb 21, 2015 - 7:25 AM

Greece is granted a 4 month extension provided it will submit a list of economic and other reforms by Monday which its eurozone partners will then review to see if they go far enough

SUCCESS. Europe has granted Greece a crucial extension to its massive debt bailout. EPA/SIMELA PANTZARTZI

Greece, creditors lay ground for last-ditch meeting

Feb 14, 2015 - 3:11 AM

Under the Greek proposals Athens would stick to 70 percent of the existing bailout programme but it would overhaul the remaining 30 percent

'Greece will never present a budget deficit again'

Feb 04, 2015 - 8:29 PM

We need to end the malignancies that have afflicted the Greek economy in the past year said Greek Finance Minister Yanis Varoufakis who was on a tour to drum up support for debt relief

Budi Mulya divonis 10 tahun

Jul 16, 2014 - 6:51 PM

Budi Mulya mantan Deputi Gubernur Bank Indonesia adalah terdakwa pertama yang divonis oleh majelis hakim pengadilan tipikor terkait pemberian FPJP dan penetapan Century sebagai bank gagal berdampak sistemik

10 TAHUN PENJARA. Terdakwa kasus dana talangan Bank Century, Budi Mulya, yang juga mantan Deputi Gubernur Bank Indonesia, di Pengadilan Tindak Pidana Korupsi, Jakarta, 9 Mei 2014. Foto oleh EPA

Central bank chief resigns in recession-hit Cyprus

Mar 10, 2014 - 11:48 PM

President Nicos Anastasiades accepted the resignation of Cyprus central bank chief Panicos Demetriades whose performance came under fire over the island s banking crisis last year

A man withdraws money from an ATM in the Cypriot capital of Nicosia on March 16, 2013. AFP PHOTO/YIANNIS KOUTOGLOU

Pakistan central bank chief resigns ahead of IMF loan review

Jan 31, 2014 - 3:04 PM

On the eve of the International Monetary Fund s review into a bailout loan the governor of the State Bank of Pakistan resigns

RESIGNATION. Yaseen Anwar, governor of the State Bank of Pakistan since October 2011, leaves for personal reasons

Toxic US corporate culture unchanged: watchdog

Oct 29, 2013 - 2:00 PM

Five years after the US financial crisis forced the massive government TARP bailout the US corporate culture remains toxic and breeding crime says the bailout program watchdog

NO CHANGE. Five years after the fall of Lehman Brothers, Wall Street and corporate America's toxic culture remains the same, a watchdog says. File photo by AFP

Spain exits recession, job losses ease

Oct 23, 2013 - 7:24 PM

Spain escapes from its two year recession in the 3rd quarter of 2013 with timid growth as job destruction eased

BYE, RECESSION. Spain is no longer in a recession. AFP file photo shows a euro coin with a Spanish national flag in the background

Ireland set to exit EU-IMF bailout in December: PM

Oct 14, 2013 - 12:48 AM

Ireland will become the first eurozone country to exit its bailout in December warning however there was still some way to go to full recovery

Eurozone approves Cyprus bailout terms

Apr 12, 2013 - 8:55 PM

Eurozone finance ministers formally approves the terms of a Cyprus debt bailout

Cyprus to do 'whatever it takes' to turn economy around

Apr 04, 2013 - 7:18 AM

The new finance minister of cash strapped Cyprus vowes to do whatever it takes to sort out the EU country s teetering finances and put the economy back on track for growth

Cyprus banks open calmly as meltdown probe starts

Mar 28, 2013 - 9:58 PM

The Cypriot cabinet appointed a panel of 3 ex supreme court judges to investigate whether criminal activity was involved in the island s banking meltdown

Cyprus banks to stay shut as world markets take fright

Mar 26, 2013 - 8:29 AM

Finance Minister Michael Sarris had made the decision ensure the smooth functioning of the entire banking system

A man withdraws money from an ATM in the Cypriot capital of Nicosia on March 16, 2013. AFP PHOTO/YIANNIS KOUTOGLOU

Cyprus sacrifices top banks to resurrect EU bailout

Mar 25, 2013 - 8:26 AM

Fierce negotiations to resurrect a deal for the EU and the IMF to bail out Cyprus appeared to be bearing fruit early on Monday says Cyprus president