Bailout
Euro finance ministers delay Greece deal
Eurogroup says second tranche for Greece will be delayed until at least early July as European finance ministers flesh out new deal for sovereign
IMF paper on protectionist responses to the crisis
Research finds measures resulted in $30-35 billion decline
Wellink wants European Financial Stability Facility funds doubled
ECB governing council member wants fund boosted to €1.5 trillion
BIS’s Hannoun spots conundrum in 'no bailout' line
Bank for International Settlements deputy general manager Hervé Hannoun says aversion to taxpayer-funded bailouts not fully priced in sovereign spreads
British bankers disagree over ring-fencing
Controversial proposals for reform of UK banking system spark dispute among representatives of ‘big four’ banks; disagree over ring-fencing option
Governments free-ride US bailout: National Bank of Austria paper
National Bank of Austria study says spillover effects of banking crisis provide an element of free-riding for some countries
IMF approves €26 billion extended arrangement for Portugal
IMF agrees extended support of Portugal; political cooperation allow plans to progress
Belarus gets $3 billion bailout from Russia
Russia agrees $3 billion dollar bailout for Belarus
Eurozone sovereign bailouts likely to stop at Portugal, say investors
The Eurozone crisis has already forced three members of the currency union to take EU/IMF bailouts but Spain, the next potential target of investors, is unlikely to follow
Bernanke to make motion picture debut in “Too big to fail” film
New film chronicles the months leading up to Lehman Brothers’ collapse in 2008; centres on treasury secretary Henry Paulson
Finland supports Portuguese bailout; calls for international banking tax
National Coalition Party and Social Democratic Party agree to support bailout; want to see EU-wide banking tax “to collect funds from banks in advance in view of a possible future financial crisis”
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
CCP reform risks further bailouts: IMF research
Fund study says reforms on central counterparties will not reduce systemic risk and could lead to further taxpayer funded bailouts
Portuguese CDS spreads climb after austerity measures voted down
The EU prepares itself for another sovereign bail-out after Portuguese parliament rejects tax rises and budget cuts
Moody’s Portugal downgrade sparks further speculation of bailout
Moody’s cuts Portugal’s credit rating by two notches to A3 on weaker growth prospects; analyst says bailout expected in coming months
Ireland unveils stress test scenarios
Central Bank of Ireland outlines macroeconomic scenarios for stress test exercise on four banks; results set to be published at end of month
Markets wobble as Spanish downgrade, eurozone fears bite
Moody’s one notch Spanish downgrade exacerbates investor jitters a day before European Council meets to discuss EFSF, ESM, bailout renegotiations
Efficient markets’ failure hamstrung central banks: CentralBanking.com panel
Reliance on efficient markets hypothesis to develop policy frameworks must be reversed, LSE’s Brandon Davies and Fathom director Danny Gabay argue
Bailout renegotiation looms following Irish election
Ireland’s new prime minister-elect expected to press for renegotiation of EU-IMF bailout deal; scheduled to meet European Commission head José Manuel Barroso on Friday
No more bailouts under Dodd-Frank: FDIC’s Bair
Federal Deposit Insurance Corporation chair Sheila Bair says Dodd-Frank Act ensures taxpayer will no longer bear cost of bank failures
Spanish banks’ ECB reliance drops
Spanish banks’ borrowing from European Central Bank declines just over 20% compared to December
No new deal on bailout: Trichet to Dublin
European Central Bank president Jean-Claude Trichet says Irish politicians should not attempt to renegotiate terms of the EU-IMF bailout; opposition leaders critical of ECB’s role
Duke defends Fed’s liquidity measures
Federal Reserve board member Elizabeth Duke says Fed bail-out was necessary for welfare of entire economy, not just banks
Anglo chiefs approached me before crash: ex-central bank director
Former Central Bank of Ireland director Alan Gray says chairman and chief executive of now state-owned Anglo Irish Bank approached him over liquidity stress in lead up to government guarantee, crisis