FINANCIAL News, Money, Banks, Economic and Financial Crisis, May 19, 2012

IMF chief warns on cost of Greek exit from euro Reuters Fears that Greece's dire state could drag the euro zone deeper into crisis rattledfinancial markets across the globe, as a little-known judge was installed to head an emergency government which will lead the nation to new elections on June 17. See all stories on this topic »

IMF to review Greek progress after June elections Reuters WASHINGTON May 17 (Reuters) - The International Monetary Fund will not return to Greece to review its loan program before Athens holds fresh elections on June 17, anIMF official said on Thursday. "We take note that elections have been called and we ... See all stories on this topic »

IMF says Italy has made remarkable progress but needs more measures to push growth Washington Post MILAN — An International Monetary Fund official on Wednesday said the eurozone's third-largest economy is “on the right track” and has made notable progress in the six months since Premier Mario Monti took over. An IMF review of Italy found its reform ... See all stories on this topic »

Corruption Threatens Loan Dealings - Global Witness AllAfrica.com By Julius N. Uma, 18 May 2012 Juba — South Sudan's government decision to pursue oil-backed financing in the wake of a looming economic crisis faces real transparency tests, if details of any loan agreements secured are not publicly declared to the ... See all stories on this topic »

In European Crisis, Iceland Emerges as an Island of Recovery Wall Street Journal In 2008, Iceland was the first casualty of the financial crisis that has since primed the euro zone for another economic disaster: Greece is edging toward a cataclysmic exit from the euro, Spain is racked by a teetering banking system, ... See all stories on this topic »

Spain may have to revise its 2011 budget deficit Huffington Post DANIEL WOOLLS and HAROLD HECKLE | May 18, 2012 06:17 PM EST | AP MADRID — Concern grew for the stability of Spain's place in the fragile eurozone economy after reports of a rise in the level of bad loans on the books of its banks and word from the ... See all stories on this topic »

Only the IMF can break euro logjam Financial Times ... that co-ordinates support for troubled EU economies. Unfortunately, the prospect of more money being made available from the IMF's own resources or in the form of G20loans channelled through the fund has contributed to complacency in Europe. See all stories on this topic »

Will Fed's Desire to Look Apolitical Make It Susceptible to Political Pressure? Wall Street Journal (blog) 1) The world today would be a financial disaster if not for the IMF from the start of thefinancial crisis. This is not your father's IMF today, please note. It's a rapidly evolving and essential asset to a functioning global and interdependent economy ... See all stories on this topic »

Greek residents on political and economic crisis BBC News I would prefer to exit the euro and suffer for five or 10 years than to be enslaved by the IMF and banks and have to repay loans with interest for the next 20 or 30 years. By exiting the euro we can at least become more competitive which might help ... See all stories on this topic » BBC News

IMF chief warns on cost of Greek exit from euro Hindustan Times The IMF's sister organisation, the World Bank, said the crisis could spread beyond Greek borders to far bigger euro zone economies that are in trouble. "The core question will be not Greece, but Spain and Italy," World Bank President Robert Zoellick... See all stories on this topic »

Greece tops G8 agenda as eurozone crisis snares Spain AsiaOne "If the government does not meet the conditions required to receive the next tranche of the bailout, it could run out of money before the end of the summer," they said, referring to Greece's EU-IMF loan lifeline. "It has become obvious that the period ... See all stories on this topic » AsiaOne

IMF: Italy has made 'notable progress' FederalNewsRadio.com By COLLEEN BARRY AP Business Writer MILAN (AP) - An International Monetary Fund official on Wednesday said the eurozone's third-largest economy is `'on the right track" and has made notable progress in the six months since Premier Mario Monti took over ... See all stories on this topic »

Greece gets caretaker PM until new vote in June Fox News There were no queues at banks in Athens after the May 6 election, but Greeks have been gradually withdrawing their savings over the past two years as the country'sfinancial crisis deepened, either sending the money abroad or keeping it in their homes. See all stories on this topic »

Spain may have to revise its 2011 budget deficit upwards again due to regional ... Washington Post MADRID — Concern grew for the stability of Spain's place in the fragile eurozoneeconomy after reports of a rise in the level of bad loans on the books of its banks and word from the government Friday that it may have to revise its 2011 budget deficit ... See all stories on this topic »

S'pore's US$4b pledge to IMF will not come from Govt Budget Channel News Asia ... as emerging economies responded to a request by IMF chief Christine Lagarde for at least US$400 billion in new money to draw a line under the euro zone debt crisis. In Mr Lee's written reply to parliament on Monday, he said the loan will be part of ... See all stories on this topic »

Eurozone debt crisis: Stocks fall again as IMF prepares for 'messy' Greek exit ... Daily Mail The FTSE 100 Index was 74 points down at 5363 after newly elected Greek politicians - divided over how to resolve the country's economic crisis - were unable to reach an agreement. And the International Monetary Fund was today preparing for Greece's ... See all stories on this topic » Daily Mail

Greece on the brink as IMF awaits new polls Times LIVE The IMF will not return to Greece to review its loan programme before Athens holds new elections on June 17. "We take note that elections have been called and we look forward to being in contact with the new government when it has been formed," IMF ... See all stories on this topic » Times LIVE

Debt crisis: as it happened May 18, 2012 Telegraph.co.uk Visit our financial crisis page to keep up to date with events at the G8 meeting this weekend. 22.01 Meanwhile, UK PM David Cameron has reiterated that the eurozone needs to take "decisive action" to strengthen its banks and build a robust firewall. See all stories on this topic » Telegraph.co.uk

Spanish stocks focus of investor concern Seattle Post Intelligencer Moody's acted late Thursday, citing Spanish banks' heavy load of non-performing loansamid a recession-plagued economy, their trouble raising financing on capital markets and the government's sovereign debt problems, which might make it hard for the ... See all stories on this topic »

Debt crisis: live Telegraph.co.uk The concern is that you end up with an outcome in the eurozone that creates the same sort of structural difficulties in the financial system and in the economy that we saw in the past recession, and that that has consequences both for hitting economic ... See all stories on this topic » Telegraph.co.uk

Euro crisis hands G8 another chance to save the world Globe and Mail The fading G8 has a chance to reach into its past and try to save the world again – this time from a euro crisis coming to a head in Greece – with informal talks among a small group of leaders about fixing the globaleconomy. The G8 leaders don't have ... See all stories on this topic » Globe and Mail

Decisive action needed to save Greece - and the euro Irish Times ONE WAY or the other, the approach of European policymakers to the Greek crisis is going to have to change radically over the next few weeks. A series of EU-IMF loans-for-reforms programmes for Greece has proven to be both economically and politically ... See all stories on this topic » Irish Times

Bosnia seeks new IMF loan Press TV In July 2009, the IMF approved a three year stand by loan worth 1.2-billion-euros in order to ease effects of the global economic crisis. Bosnia withdrew 380 million Euros before the arrangement was frozen in October 2010 due to authorities' failure to ... See all stories on this topic » Press TV

Stocks fall again as IMF prepares for a 'messy' Greek exit from the euro Daily Mail Newly elected Greek leaders - hotly divided over how to resolve the country's economic crisis - failed to form a new government. That means new elections must be held in June. Traders fear a win by parties that oppose highly controversial austerity ... See all stories on this topic » Daily Mail

Dear Greece: Be careful what you wish for CNN (blog) That is what June 17 will now be about, because there will be massive pain for you, Greece, if you stay with the economic reforms, and even more pain if you reject theloans from Europe and the International Monetary Fund. Pain either way. See all stories on this topic »

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