Bailout Fund

Greece appoints new chairman at bank bailout fund

Wed, 15 May 2013 20:47:31 GMT

Source: www.bignewsnetwork.com --- Wednesday, May 15, 2013
ATHENS | Wed May 15, 2013 4:47pm EDT ATHENS May 15 (Reuters) - Greece has appointed a former UBS executive as chairman of its bank Bailout Fund, the Hellenic Financial Stability Fund (HFSF), the country's finance ministry said on Wednesday. Funded with 50 billion euros ($64 billion) from the country's European Union/International Monetary Fund Bailout package, the HFSF was set up ... ...

UK backs bank tax over EU industry bailout fund

Wed, 15 May 2013 04:48:08 GMT

Source: www.cityam.com --- Tuesday, May 14, 2013
GEORGE Osborne yesterday fought EU plans for banks to build up multi-billion euro reserves to hold in case they need bailing out in future. He called the scheme “totally useless,” instead indicating the government should carry on taxing... ...

EU bailout fund releases Cyprus aid payment

Mon, 13 May 2013 19:48:34 GMT

Source: www.thenewstribe.com --- Monday, May 13, 2013
Brussels: The EU on Monday handed over the first two billion euros of loans agreed under the controversial Cyprus aid deal, the bloc’s European Stability Mechanism said in a statement. The euro rescue Fund said the first tranche in a 10-billion-euro ($13 billion) loan package in exchange for breaking up the Cypriot banking sector was “transferred today,” with a second release of “up to one billion to be transferred before 30 June 2013.” An unprecedented “haircut” on deposits forced the Cypriot government to close all the island’s banks for nearly two weeks in March and impose Draconian controls when they reopened to prevent a run on accounts. The announcement came shortly after finance ministers from the eurozone gathered in Brussels for unusually calm talks that were also set to approve a fresh batch of funding for Greece. Tougher disputes were expected on Tuesday over banking union and a planned crackdown on tax evasion when the ministers were to be joined by their European Union counterparts. German Finance Minister Wolfgang Schaeuble appeared to put the brakes on an existing roadmap towards integration of the eurozone banking sector when he warned in Monday’s Financial Times that EU treaties would need amending in order to create a cross-border resolution mechanism for failed banks. French counterpart Pierre Moscovici said that Schaeuble’s remarks were “in no way a brake” on the scheme, agreed in theory by EU leaders last yea ...

EU bailout fund releases Cyprus payment

Mon, 13 May 2013 19:19:21 GMT

Source: www.skynews.com.au --- Monday, May 13, 2013
The EU has handed over the first two billion euros of loans agreed under the controversial Cyprus aid deal. ...

EU bailout fund releases first 2b euros of Cyprus aid payment

Mon, 13 May 2013 18:19:43 GMT

Source: stprdfeeds.straitstimes.com --- Monday, May 13, 2013
May 13, 2013 11:13 PM BRUSSELS (AFP) - The European Union on Monday handed over the first two billion euros (S$3.2 billion) of loans agreed under the controversial Cyprus aid deal, the bloc's European Stability Mechanism said in a statement. ...

EU bailout fund releases first Cyprus aid payment

Mon, 13 May 2013 16:57:57 GMT

Source: www.telegraph.co.uk --- Monday, May 13, 2013
The European Union has handed over the first €2 billion of loans agreed under the controversial Cyprus aid deal, the bloc's European Stability Mechanism said in a statement. ...