DUBLIN (Reuters) - Ireland's parliament, the Dil, approved a multi-billion euro EU/IMF bailout package on Wednesday [Dec. 15] in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks. Finance Minister Brian Lenihan pushed through the 85 billion ($112.6 billion) package with the support of independent MPs and told the center-right Fine Gael party that its proposals to lean on senior bondholders would fail because of opposition from the European Central Bank.
BRUSSELS - Eurozone leaders on Thursday agreed to a sweeping deal that will grant Greece a massive new bailout - but likely make it the first euro country to default - and radically reshape the currency union's rescue fund, allowing it to act pre-emptively when crises build up. The eurozone countries and the International Monetary Fund will give Greece a second bailout worth $155 billion, on top of the $158 billion already granted a year ago.
Senator [Barack Obama] and I agree that our financial foundation needs reinforcing. We also agree that homeowners need protections. (But) first things first. Congress must stabilize the economy or well see more Americans facing foreclosures, layoffs, and bankruptcy," said [Jesse Jackson Jr.], one of the Obama campaign's 10 national co-chairs. "Yesterday morning, one of my neighbors whose house is in foreclosure-a man who lives just a few doors down from me on Madison Avenue in Baltimore-summed it up best. He said, '[Elijah Cummings], I have been hearing about this bill to help out Wall Street, but what is in the bill to help me? What is in there to help save my home?' And, I had to tell him-not very much," Cummings said. "At the same time, my stomach turns when I think about the men an...
Christmas may be over for most Marylanders, but state leaders are hoping Santa comes back early next year carrying bags of cash from Washington, D.C. The promise of a new federal government led by President-elect Barack Obama has been dancing in the heads of leading Democrats like hundreds of millions of sugarplums. As the budget news continues to get worse in Annapolis, they hope Mr. Obama and the new Congress will bring tidings of great joy with a bailout package for states.
The Maryland General Assembly marched toward final agreement on a $1.5 billion fiscal bailout package Sunday night as it neared the end of a three-week special session. The House of Delegates and the Senate completed work on a bill that would ask voters to approve 15,000 slot machines in Baltimore City, Anne Arundel, Allegany, Cecil and Worcester counties in 2008, and the Senate neared a final vote on an accompanying bill that would regulate the machines and set the distribution of the revenue they generate.
Whether you like it or not, the massive government bailout bill has been passed by Congress and signed by President Bush. We talked with two business leaders Friday to get their thoughts on the bailout and what it means to Inland Empire residents and businesses.
There is a broad perception by many that Atlantic City is not the place to bring families," [Chris Christie] said last year. "We need to change this. The city and its gaming market have steadily declined in revenues and popularity since 2006 - due in part to the proximity of casinos in neighboring states.
Whether you like it or not, the massive government bailout bill has been passed by Congress and signed by President Bush. We talked with two business leaders Friday to get their thoughts on the bailout and what it means to Inland Empire residents and businesses.
COLUMBUS -- Like most Ohioans, Dan Nowak of Beavercreek isn't thrilled with the $700 billion economic bailout package but sees it as a way of avoiding disaster. I've been very conflicted about that. On one hand, I hate the idea of somehow benefiting the people who got us into this. On the other hand, something has to be done to free up the credit market and help all of us," said Nowak, a 61-year-old retired teacher. "I'm generally in favor of it as a bitter pill we have to swallow.
MONACO (Reuters) - Blackstone's veteran Wall Street strategist Byron Wein sees a bottoming in stock prices and the possible return of $10 billion-sized buyouts, as Europe's rescue package averts a deterioration in the sovereign debt crisis. Mr. Wien, who is well known for his annual predictions and who correctly called the rebound in China in 2009, said he was not as bullish as at the start of the year but nevertheless thinks a deterioration in the sovereign debt crisis will be avoided.
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