The International Monetary Fund on Friday urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout next year.
America’s new treasury secretary Jack Lew has demanded that Europe do more to grow its austerity-afflicted economy amid concerns that Portugal was heading towards its second international bailout, reports The Guardian.
Reflecting deep anxiety in the Obama regime about the risks posed by the single currency’s prolonged double-dip recession, Lew used a visit to Brussels to urge expansionary measures.
The International Monetary Fund sees the Federal Reserve maintaining large monthly bond purchases until at least the end of this year and urged the central bank to carefully manage its exit plan to avoid disrupting financial markets.
Unwinding a policy of record-low interest rates and US$85-billion in monthly bond-buying known as quantitative easing will be challenging even though the Fed has “a range of tools” to withdraw the stimulus, the IMF staff wrote in its annual assessment of the U.S. economy.
(Reuters) - Maurice "Hank" Greenberg, the former American International Group Inc chief executive, has more than doubled the size of his class-action lawsuit against the United States over the insurer's bailout to roughly $55.5 billion from $25 billion.
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Japanese banks, which should know a thing or two about banking crises, have once again clawed their way to the top of the heap of overseas lenders. And with their knack for impeccable timing, they’ve once again become the largest force in emerging market economies – just as financial turmoil there is coming to a boil.