bailout

Greece Makes Progress on Bailout
By Chris Williamson
March 9, 2012 - 1:29pm
New development will help other European nations as well

Greece's private investors have come to an agreement to restructure €172 billion worth of Greek bonds. This amount represent 85.5 percent of the total €206 billion held by the private sector according to the Greek finance ministry.

According to CNN, 69 percent of investors that are owners of Greek bonds not given out through Greek law agreed to restructure €20 million.  

And Greek Finance Minister Evangelos Venizelos wlecomed the agreement and said that the private sector creditors are taking a big burden off of Greek citizens.  

Greece Accepts Austerity Measures While Riots Rage
By Alexandrea Santillo
February 13, 2012 - 12:18pm
Protestors rally against the new deal as the Greek Parliament announces acceptance of the package

After days of intense debate, the Greek Parliament has approved austerity measures in an effort to keep the country from defaulting on its debt, according to CNN.

The package passed with a 199-74 vote, but the decision to approve the package was not an easy one. Several ministers even resigned in protest, says The New York Times.

Possible deep cuts for bailout companies
By Lindsay Kukla
October 21, 2009 - 5:35pm
Highest paid executives may now face pay cuts up to 90 percent

The government bailouts of 2008 sparked controversy about executive salaries within the salvaged companies.  Now, the Obama administration will force the seven companies that received the most aid to slash compensation, an anonymous official said Wednesday.

The 25 highest paid executives will have their paychecks cut by about 90 percent, according to the official who spoke under anonymity because the decision has not yet been announced.

All other executives will receive a pay drop of about 50 percent,...