Latest Government debt News

Pennsylvania accuses financial firms of bond price-fixing

May. 24, 2019 8:41 AM EDT

HARRISBURG, Pa. (AP) — Pennsylvania's treasury department is accusing about a dozen large financial firms of inflating the price of bonds issued by Fannie Mae and Freddie Mac over seven years. Thursday night's federal court filing by Pennsylvania Treasurer Joe Torsella cites what his office says is...

EU high court rejects compensation bid on Greek bond losses

May. 23, 2019 6:05 AM EDT

ATHENS, Greece (AP) — An EU high court has rejected a bid for compensation from the European Central Bank by some private owners of Greek bonds who suffered losses at the height of Greece's debt crisis seven years ago. Near-bankrupt in 2012, Greece executed the biggest debt restructuring ever, erasing 105...

Congressional leaders make progress on debt, spending talks

May. 21, 2019 9:06 PM EDT

WASHINGTON (AP) — Top leaders of both parties in Congress made progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a deadline later this year to increase the government's borrowing limit. But after a flurry of optimism at midday, a deal proved elusive...

Italy's Salvini snubs far-right label for nationalist allies

May. 17, 2019 12:57 PM EDT

MILAN (AP) — The leader of Italy's right-wing League party on Friday rejected the label "far-right" for an alliance of like-minded populist leaders that are aiming to join forces and weaken European Union bureaucracy after next week's elections across the bloc. Matteo Salvini will lead a rally Saturday in...

As Lebanon leaders talk austerity, protesters cry 'thieves!'

May. 10, 2019 12:09 PM EDT

BEIRUT (AP) — Dozens of Lebanese military and security veterans burned tires and shouted angrily outside government offices on Friday, their second protest in less than two weeks amid fears a proposed austerity budget may affect their pensions and benefits. The protesters gathered in downtown Beirut as...

Lebanon's Central Bank workers suspend strike for 3 days

May. 7, 2019 11:35 AM EDT

BEIRUT (AP) — Employees at the Central Bank of Lebanon on Tuesday suspended their open-ended strike for three days, saying they hope their wages and benefits will not be cut. The strike began Friday and raised concerns it could paralyze the country's banking sector, which relies on the Central Bank for...

Lebanon stock trading suspended over central bank strike

May. 6, 2019 10:14 AM EDT

BEIRUT (AP) — The Beirut Stock Exchange suspended trading on Monday due to an open-ended strike declared by the employees of Lebanon's central bank, adding to the country's economic crisis as the government discusses an austerity budget to avoid an economic crash. The ongoing strike by the Central Bank of...

Greek 2018 primary budget surplus exceeds forecasts, at 4.4%

Apr. 23, 2019 8:15 AM EDT

ATHENS, Greece (AP) — Greece's budget performance in 2018 was better than expected following some revenue-boosting measures by the government. According to the country's statistical agency, Greece recorded a primary budget surplus, which excludes the cost of servicing the country's vast public debt, of...

Markets Right Now: Stocks end holiday-shortened week higher

Apr. 18, 2019 4:15 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Major U.S. indexes managed small gains on Wall Street but not enough to prevent a losing week for the S&P 500 following three weeks of gains. Industrial companies rose Thursday as traders welcomed solid earnings...

Lebanon's PM vows strict austerity reforms to avoid crash

Apr. 17, 2019 11:55 AM EDT

BEIRUT (AP) — Prime Minister Saad Hariri warned Wednesday that Lebanon is heading toward an economic "catastrophe" unless the government implements strict austerity measures to reduce a ballooning budget deficit and massive national debt. The stark warning came shortly after parliament passed amendments...