Puerto Rico made Rep. Raul Labrador, but the fact he was born there, and called it home until he was 13 years old did not inspire him to help the island with its debt crisis. In his five years as a lawmaker, Labradors political capital has been so invested in his conservative constituents in Idaho,…
©Getty Graffiti in central Athens It has been a defining feature of the bailout of Greece by the eurozone and International Monetary Fund that the creditors have done the right thing years later than they should. Tuesdays meeting of the eurogroup of finance ministers has provided the chance for eurozone governments to address the questions…
NEW YORK (TheStreet) — Shares of Chesapeake Energy (CHK) are advancing 7.08% to $3.93 in early-afternoon trading on Tuesday after announcing that it has issued or agreed to issue roughly 5% of its outstanding shares in exchange for debt during the past week. The transaction is the second time this month that Chesapeake has swapped debt…
Five years after handing Greece the biggest sovereign-debt write-off in history, European policy makers have come full circle to the point they had all hoped to avoid: a real discussion on debt relief. Despite all the efforts to shrink Greeces debt since the start of the financial crisis, the countrys economy has shrunk at a…
Almost a quarter of adults (23.8%) living in the Derry and Strabane District Council area are living in debt. This is a staggering 7.7% more than the national average – and means most households are dealing with serious debt. This is in line with figures from across Northern Ireland which show that 1 in 5…
Greeces Finance Minister Euclid Tsakalotos hopes to finally unlock 11bn of bailout loans today Photograph: Yorgos Karahalis/AP Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Its nine months since Greece signed up to its third bailout, after months of torturous negotiations and deadlock climaxed…
Dowling College is rushing to find an academic and investment partner after a deal to help the debt-ridden liberal arts school stalled, threatening both the schools existence and the Class of 2016s commencement ceremony, a key senator said Monday. A flurry of activity over the last four days averted a crisis but only for the…
Greek markets and country-specific exchange traded funds (ETFs) surged Monday after Athens assuaged investors’ fears by laying the groundwork for an agreement on bailout loans and debt relief. The Global X MSCI Greece ETF (NYSEArca: GREK ) gained 4.1% Monday on two times its average daily volume. GREK has increased 40.9% over the past three…
The International Monetary Fund has called for upfront and unconditional debt relief for Greece as it warned that without immediate action the financial plight of the recession-ravaged country would deteriorate dramatically over the coming decades. In a strongly worded assessment, the IMF said that there was no prospect of Greece meeting the draconian terms of…
Greek lawmakers approved tax increases and a new privatization fund on Sunday and freed up the sale of non-performing loans in exchange for much-needed bailout loans and debt relief. Athens hopes the measures, two days before a key meeting of Eurozone finance ministers, will help it unlock the funds it needs to pay off debts…