WASHINGTON — Legislation giving Puerto Rico the ability to restructure its $70 billion in debt overcame a major hurdle on Thursday, passing out of committee in the House. The House Natural Resources Committee approved the bill, which would establish an oversight board to help the commonwealth restructure its un-payable debt and craft an economic recovery…
Euro zone governments on Wednesday offered Greece debt relief in 2018, but left key details for later in a bid to bridge Germany’s view that no immediate action was needed and the International Monetary Fund’s call for decisions now. The late-night compromise spared the battered European Union the risk of another Greek crisis this year,…
D.C. Attorney General Karl Racine, center, filed a lawsuit against a Florida-based student debt relief company. (Astrid Riecken/For The Washington Post) District Attorney General Karl A. Racine on Wednesday filed a lawsuit against Student Aid Center, a Florida-based debt relief company, and its owners for misleading area residents about the firms ability to lower student loan payments and…
At a meeting of euro-area finance ministers in Brussels on Wednesday that lasted late into the night, officials struck a preliminary deal with Greece to ease the countrys debt burden, paving the way for a 10.3 billion-euro ($11.5 billion) aid payout. While finance ministers called it a breakthrough deal, Greece is still on shaky terms,…
Greek Prime Minister Alexis Tsipras arrives to welcome Cyprus’ President Nicos Anastasiades at the Maximos Mansion in Athens, Greece May 25, 2016. Reuters/Alkis Konstantinidis A deal agreed by euro zone finance ministers offers Greece some help to ease its debt payments with the prospect of longer-term restructuring of its debt mountain, stretching official loans out…
European stocks started the day in positive territory after Greece’s creditors signed up to long-delayed debt-relief measures for the Mediterranean country. In London, the FTSE 100 was recently 0.63% higher at 6,258.73, while on the mainland the Dax added 0.90% to 10,147.48 in Frankfurt and the Cac 40 gained. 61% to 4,458.67. Investors across the…
Greece’s creditors today have agreed to release the next tranche its rescue loans, amounting to EUR10.3 billion ($11.5 billion). After late-night talks in Brussels, the eurozone finance ministers and the International Momentary Fund came the deal that unlocks the aid and sets out how the country can get future debt relief. The funds will help…
Updated May 25, 2016 5:14 a.m. ET Global stocks extended a rally Wednesday as investors were encouraged by rising oil prices and the prospect of Greek debt relief. Bank shares led the Stoxx Europe 600 up 0.9% in morning trade, echoing gains in Japan and Hong Kong. Futures pointed to a 0.4% opening gain for…
Mr Tsakalotos said he was optimistic that the deal would help to return Greece to fiscal health. “It’s an important moment for Greece after so much time,” he said. “I think that there can be some ground for optimism that this can be the beginning of turning Greece’s vicious circle of recession, measures, recession, into…
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,…