In a media interview last month, Defence Minister Mohamad Sabu said that the expenditure of most ministries have been temporarily halted to channel funds to bailout
TH and the Federal Land Development Authority (Felda).
Looking sombre, Tsipras said: "We will not commit the affront of ignoring the lessons of the bailout
Moreover, the law already provides a basis for challenging bailouts
, albeit a weak and confusing one.
The German parliament's vote capped a week in which the proposed bailout
agreed by eurozone leaders on Monday has cleared a string of hurdles.
On Sunday, more than 61 percent of Greeks voted against a new bailout
plan proposed by the lenders that envisaged unpopular austerity measures such as pension cuts and tax increases in exchange for another loan.
McKinley finds fault with the concept of bailouts
and especially questions their need in 2008.
Before they received a $48 billion taypayer-funder bailout
last November, four Spanish banks were forced to agree to lay off thousands of employees and close offices 6 a major blow to shareholders and bondholders who hoped for a soft knuckle-rapping.
The measures involved: cutting interest rates on bailout
loans; extending maturities of loans; returning profits made by the European Central Bank (ECB) on the purchase of Greek bonds to Greece; and buybacks of Greek debt by the Euro zone from the private sector.
Not long after the savings and loan bailouts
of the 1980s, reason's Rick Henderson caught wind of another potential bailout
in the making--this time of the Federal Housing Administration (FHA), a Depression-era agency that guarantees private home loans against default.
Green carefully defines the newly popular term “bailout” and shows how it functions in our society when government gives financial assistance to private enterprise, but then she smartly asks these broader questions: What other types of bailouts
exist and is this a “new” idea?
Republicans have been relentless in attacking President Obama's federal bailouts
even though many Republicans voted for them--but flow many are calling Romney the "Bailout
King." Democrats and Republicans, liberals and conservatives are examining the details of multiple federal bailouts
, amounting to more than $50 million, raked in over the years by Bain Capital, Romney's financial services company.
Although the bailouts
require Greece to introduce regulatory changes, labour market reforms and other steps to make its economy more competitive, it is still not clear if these will be enough to offset the fact that as a member of the euro zone, Greece cannot cut interest rates or depreciate its currency.