Government Policy

  • 2015-04-16 12:17


    --House Speaker Boehner: Bill First Entitlement Reform in 20 Years
    --Senate Majority Leader: Looking For Areas of Accord With Democrats

    WASHINGTON (MNI) - House Speaker John Boehner, Senate Majority Leader Mitch McConnell and House Minority Leader Nancy Pelosi gathered Thursday in a ceremonial reception room near the House floor to declare victory on Congressionally approved legislation to alter the formula by which Medicare reimburses doctors, extend funding for community health centers, and renew the children's health insurance program.

    The event with more dozen lawmakers transformed a routine enrollment task by congressional leaders into a public ceremony.

  • 2015-04-16 08:07


    By Martin Baccardax

    LONDON (MNI) - Greece's sovereign bond yields are surging past all-time highs Thursday following a ratings downgrade from Standard & Poor's and an increasing concern that the cash-strapped government may be forced into stark financial choices over the coming weeks.

    Yields on Greece's benchmark 3-year bond have risen more than 330 basis in European trading, taking the headline figure to 27.75% - the highest since it was issued in July 2014.

  • 2015-04-16 06:42


    By Silvia Marchetti

    ROME (MNI) - Italy Prime Minister Matteo Renzi's ambitious reform strategy is facing rising tensions within his own party that could jeopardise set targets just as Italy looks set to exit its triple-dip recession and the European Commission is open to evaluating requests for greater fiscal flexibility.

    The pillar of the reformatory roadmap, cleared by government last week together with an ambitious fiscal plan that has raised growth forecasts, is the new electoral law expected to be definitively approved by the Lower House early May.

  • 2015-04-16 00:19


    LONDON (MNI) - Latest polling data

    Con Lab LD UKIP Green SNP

    -----------------------------------------------------------

    YouGov.Sun 16/04/15 34% 35% 8% 13% 5% n/a YouGov/Sun 15/04/15 33% 35% 8% 13% 5% n/a TNS UK 14/04/15 34% 32% 9% 14% 5% n/a YouGov/Sun 13/04/15 33% 34% 8% 13% 6% n/a Ashcroft 13/04/15 33% 33% 9% 13% 6% n/a ICM/Guardian 13/04/15 39% 33% 8% 7% 7% n/a Populus 13/04/15 33% 33% 8% 15% 5% n/a YouGov/Sun 12/04/15 33% 36% 7% 13% 5% n/a Opinium/Observer 12/04/15 36% 34% 7% 11% 6% n/a YouGov /Sun Times 11/04/15 34% 34% 7% 13% 6% n/a

    The UK Parliament was dissolved

  • 2015-04-15 18:54


    WASHINGTON (MNI) - The following is a readout from a Treasury spokesperson on a bilateral meeting between Secretary Jacob J. Lew and Korean Deputy Prime Minister and Finance Minister Choi Kyung Hwan:

    "This evening, U.S. Treasury Secretary Jacob J. Lew spoke with Korean Deputy Prime Minister and Finance Minister Choi Kyung Hwan on the sidelines of the World Bank-International Monetary Fund Spring Meetings.

    "Secretary Lew opened the conversation by congratulating Finance Minister Choi's successful hosting of the IDB Annual Meetings last month. Secretary Lew and Finance Minister Choi also discussed the regional and global outlook, and policies necessary to promote global growth.

  • 2015-04-15 18:17


    --Retransmitting 16:26 ET Story, Fixing Punctuation in 1st Paaragraph
    --'Persistent Stagnation' Needs 'Decisive Policies'

    WASHINGTON (MNI) - The finance ministers gathering for the Group of 20 meeting this week will not be surprised to hear U.S. Treasury Secretary Jack Lew telling them that the top priority remains combatting the challenges of advanced economies' prolonged low inflation and "persistent stagnation" since it has been his message since he took the job.

    Lew has been calling for "decisive policies" since 2013 as massive post-crisis programs of U.S. stimulus and central bank quantitative easing domestically and in Europe and Japan have had less impact on growth than desired.

    "While the U.S.

  • 2015-04-15 18:08


    By Denny Gulino

    WASHINGTON (MNI) - Increasingly desperate to save the Export-Import Bank, the U.S. Treasury Wednesday promised House Republicans it will advance a number of reforms and push other countries to limit their export credits, although conceding there is scant chance South Korea and China will go along.

    U.S.

  • 2015-04-15 16:26


    --'Persistent Stagnation' Needs 'Decisive Policies'

    WASHINGTON (MNI) - The finance ministers gathering for the Group of 20 meeting this week will not be surprised to hear U.S. Treasury Secretary Jack Lew telling them that the top priority remains combatting the challenges of advanced economies prolonged low inflation and "persistent stagnation" since it has been his message since he took the job.

    Lew has been calling for "decisive policies" since 2013 as massive post-crisis programs of U.S. stimulus and central bank quantitative easing domestically and in Europe and Japan have had less impact on growth than desired.

    "While the U.S.

  • 2015-04-15 12:10


    WASHINGTON (MNI) - Standard & Poor's Ratings Services released the following statement Wednesday announcing a downgrade for Greece:

    OVERVIEW: Without deep economic reform or further relief, we expect Greece's debt and other financial commitments will be unsustainable.

    Greece increasingly depends on favorable business, financial, and economic conditions to meet its financial commitments.

    We are therefore lowering our sovereign credit ratings on Greece to 'CCC+/C' from 'B-/B' and removing the ratings from CreditWatch negative.

    The outlook is negative, given the risk of further worsening in liquidity for the sovereign, the banks, and the economy.

    RATING ACTION: On April 15, 2015, Standard & Poor's Ratings Services lowered its long- and short-term sovereign

  • 2015-04-15 10:24


    --Focus Regulatory Relief On Activities,Complexity Not Size

    WASHINGTON (MNI) - The vice chair of the Federal Deposit Insurance Corp. Wednesday argued against giving all small banks an exemption from the ban on proprietary trading by traditional banks, commonly known as the Volcker Rule, arguing that it does not impose any added regulatory burdens on smaller institutions.

    "A blanket exemption for smaller institutions to engage in proprietary trading and yet be exempt from the Volcker Rule is unwise," Thomas Hoenig said in remarks prepared for delivery at the Levy Institute's Hyman Minsky conference in Washington.