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RBS could fail due to ‘£100bn black hole’ - with British taxpayers in line to lose their entire £45bn stake

British taxpayers risk losing their entire £45bn stake in Royal Bank of Scotland (RBS) which is in grave danger of failing within 10 years, according to an explosive new book.

Greek PM rejects talk of Greece needing third bailout

Fresh on the heels of Greece floating a sovereign bond for the first time since the economic crisis began four years ago, Prime Minister Antonis Samaras had to reject talk that a third bailout will be needed.

Swedish finance minister says IMF's Ukraine bailout too small

While the IMF prepares an $18 billion rescue package for Ukraine, Sweden's minister of finance, Anders Borg, says that is not enough to stabilise the country.

Greece returns to bond markets, says end of bailout nears

Two years after nearly crashing out of the euro zone, Greece returned to the bond market on Thursday with investors hungry for high returns scooping up its debt in a €3bn deal that could mark the beginning of the end of its bailout.

Will the IMF Bailout Turn Ukraine Into Another Greece?

When the International Monetary Fund announced a tentative loan agreement with Ukraine last month, the move was widely acclaimed as vital to saving the country’s struggling economy. Headlines trumpeted the decision to “help” Ukraine with a $14–18 billion “financial lifeline.”

German Finance Minister says no haircut, but new Greek bailout possible

Despite the impending release of a long-delayed 8.3 billion euro installment from international lenders and a primary surplus of as much as 2.5 billion euros, Greece may yet need a third bailout, German Finance Minister Wolfgang Schaeuble says.

Eurozone finance ministers OK fresh bailout loans to Greece

Eurozone finance ministers, known as the Eurogroup, have agreed on a timetable for disbursing the next bailout funds for Greece. At a meeting in Athens, they found Greece was making sufficient progress on reforms.

Cyprus scraps post-bailout limits on cash withdrawals

Cyprus on Friday abolished restrictions on cash withdrawals imposed a year ago to avoid a run on the banks during bailout negotiations in 2013.

'What bailout exit?' Portuguese ask, braced for more hardship

Portugal's international bailout is expected to end in mid-May. That won't mean the end of hardship for the Portuguese.

Allied Irish Banks seeking to 'write off' €3.5bn of money owed back to the taxpayer

Allied Irish Banks is in talks with the Government that could see a €3.5bn portion of the bank's bailout loans effectively written off this year.

Cyprus faces fresh bailout uncertainty after privatization vote

Cyprus re-submitted a controversial privatization law to parliament on Friday in a last-ditch attempt to win support from fractious lawmakers threatening to derail its international bailout program.

Ukraine Braces for Violent Clashes as Putin Resumes Bailout

Ukraine’s opposition will march on parliament to pressure lawmakers struggling to end a deadly three-month political standoff, jeopardizing compromises that eased tensions over the past week.

Portugal Tempted by Clean Bailout Exit After Rally

Portugal may be tempted to follow Ireland in exiting its bailout without asking European partners for a precautionary program after a bond rally let the nation already start to raise funds for 2015.

Irish Government refuses a Freedom of Information request for material relating to Ireland's bailout exit

A Freedom of Information request to the Department of Finance for all documents held by it created since July 2013 and concerned with the Government’s decision not to seek a precautionary credit line when exiting the troika bailout, was responded to with a blanket No.

Ireland - Threat of second bailout still has not gone away

Resorting to a second bailout is a real possibility. Most of the reasons that gave rise to the belief that an on-schedule exit was impossible have not gone away. There are three major foreseeable risk factors over the next two years.

Lloyds head Antonio Horta-Osório to see £2.5m bonus at bailed-out bank

Antonio Horta-Osório will pick up a windfall of more than three million shares if Lloyds’ share price remains above 73.6p – the level the Government paid to bail out the bank in 2008 – for at least 30 consecutive days. The shares closed at 80.37p on Friday, ending a third week above the target threshold.

Ireland seeks ongoing financial support after end of bailout

Dublin is preparing to establish terms for ongoing aid to avert a potential financial collapse as the end of Ireland’s three-year bailout programme from the troika of the European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF) approaches. This will be a second bailout in all but name.

Greek Short-Selling Ban Could Be Lifted Early

Greece’s market regulator said a ban on short-selling stocks could be lifted early if equities keep climbing, the government wins the next slice of European Union bailout money and banks are recapitalized.

Allied Irish Banks uses pension bailout to pay ex-chiefs up to €500,000

The bank's chief executive, David Duffy, confirmed that some of the €1bn of assets transferred from its balance sheet to its pension fund is helping to pay the "super-pensions" of former senior managers.

Thousands march in Madrid against government austerity measures

A massive police escort accompanied tens of thousands of Spaniards marching on the country’s parliament in Madrid as part of anti-austerity protests.

'Bailouts' are a means for total subjugation of nation states - Nigel Farage

"The eurozone is now in a very dark place, economically, socially, politically, and I fear that the countries trapped inside it - in that prison - will be there for many years to come".

'Bailouts' are a means for total subjugation of nation states - Nigel Farage

EU to introduce single banking supervisor for eurozone

European Union (EU) leaders have agreed to create a single supervisory body for eurozone banks next year, a crucial step in breaking the vicious circle between banks and sovereign governments, officials say.

Spain's banks 'need 59.3bn euros of eurozone loans'

Spain's banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.

Greece may seek Spanish-style rescue of banks as part of debt crisis solution

Greece could return cap-in-hand to its European partners for a Spanish-style rescue of its ailing banking sector despite receiving billions of euros in bailout loans.

Mass protest in Spain against ‘authoritarian’ austerity

Tens of thousands of protesters from across Spain gathered in Madrid to decry austerity measures enacted by the government. Activists accused leaders of "destroying" Spain with brutal program cuts and tax hikes, aimed at avoiding an EU bailout.

Eliot Spitzer: "The Federal Reserve Is A Ponzi Scheme" - Inside the Fed's secret pile of trash assets

Eliot Spitzer — who built a reputation as the Sheriff of Wall Street for his zealous prosecutions of corporate crime as New Yorks attorney-general and then resigned as the states governor over revelations he had paid for prostitute, seemed to agree with Dylan Ratigan that the bank bailout amounts to Americas greatest theft and cover-up ever.

Federal Reserve is a Ponzi scheme, an inside job

Shaking Spain: 'Take away people's food & homes - expect violence'

Police have used rubber bullets and tear gas to disperse angry protesters thronging the streets of Spain. Dozens of people were injured and a number of activists detained during the latest nationwide anti-austerity demonstrations. In a major show of strength, hundreds of thousands have been taking part in the protests. People marched in 80 cities across the country to protest against more suffocating austerity which is to come. That's after the German Parliament gave the green light to the 100-billion Euro bailout for the country's battered banks.

Shaking Spain: 'Take away people's food & homes - expect violence'

EU, IMF vow support to new Greek govt

The International Monetary Fund and the European Union have pledged support to the next Greek government after parties that supported an IMF and EU-led bailout won a pivotal election.

European Union leaders urged the conservative New Democracy party and its likely coalition partner, the socialist Pasok party, to urgently form a new administration that can lead Greece out of its debt crisis.

Paul Craig Roberts: Collapse At Hand

Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.

Can euro rescue absolve Holocaust guilt?

Former Bundesbank board member Thilo Sarrazin has provoked outrage by arguing that Germany's euro policy is driven by a Holocaust guilt trip. He also said the single currency was always a bad idea. Does he have a point? Have your say.


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