Catastrophic Default
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Joe Biden Signs Debt Ceiling Bill Into Law, Averting Default
US President Joe Biden on Saturday signed into law a debt ceiling bill passed by Congress after weeks of wrangling, moving to avert a catastrophic, self-induced default in the world's biggest economy.
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US House Passes Debt Ceiling Deal, Bill Now Moves To Senate
US lawmakers voted to raise the national borrowing limit as a crucial first step to averting a catastrophic default, greenlighting a pact struck between Washington's warring parties after weeks of brinkmanship and fraught backroom deal-making.
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Race Against Time For US Debt Crisis Bill In Congress
Republican and Democratic leaders scrambled Monday to secure congressional support for a bill aimed at avoiding a catastrophic US debt default -- with just one week left before the government starts running out of money.
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"Confident" In Reaching Deal To Avert US Debt Default, Says Joe Biden
President Joe Biden said Wednesday he is confident a deal can be reached with Republicans leaders to avert a potentially catastrophic US debt default as early as June 1.
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Australia Cancels Quad Summit After Biden Calls Off Trip Amid Debt Crisis
Joe Biden and opposition Republican leaders on Tuesday offered hope of a deal that could avoid a catastrophic US debt default, although the president was forced to shorten an upcoming Asia-Pacific tour for further crisis talks.
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Joe Biden Cancels Post-G7 Asia Tour Amid Debt Crisis: Sources
US President Joe Biden will cut short a major trip to Asia this week, returning Sunday to Washington for high-stakes negotiations with Republicans to avert a potentially catastrophic debt default, according to two people familiar with his plans.
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Joe Biden Warns Of "Catastrophic" Consequences On Economy If US Defaults
President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy if the country defaults, as negotiations with Republicans over a debt deal are expected to resume in the week ahead.
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What Happens If The United States Defaults On Its Debt?
After narrowly avoiding a shutdown of the US government, President Joe Biden's Democratic lawmakers and the Republican opposition face an even more high-stakes task: forging an agreement to raise the country's borrowing limit or risk a catastrophic default.
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'Government Took Control Of IL&FS To Avert Catastrophic Damage'
The government said IL&FS was not making enough profits to take care of its interest expenses, leading to defaults and rating downgrades.
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"Catastrophic Impact" Of IL&FS Meltdown, Government Warned In Sunday SOS
The government's dramatic takeover of the Infrastructure Leasing & Financial Services (IL&FS) group came within a day of a confidential Finance Ministry note that had warned that "the future impact of more defaults in the group may be catastrophic" for financial stability.
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For Greece, The Worst Catastrophe Now Would be to Stay in The Eurozone
A Grexit, with a managed default and devaluation to kickstart recovery, is the only deal that should be on the table.
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Greek PM Warns of 'Difficult Compromise' After Default Threat
Greek premier Alexis Tsipras warned Greece on Saturday to prepare for a "difficult compromise" with its EU-IMF creditors as his closest advisors delivered a last-chance proposal to avert a catastrophic default by Athens.
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Argentina's Debt Fight: What it is, Why it Matters
Time to resolve Argentina's long battle with creditors is running out. Argentina owes an interest payment to the majority of its creditors on Monday, though the government has a 30-day grace period after that to avoid going into another catastrophic default.
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At United Nations, Argentina Remains Defiant on $1.5 Billion Bad Debts
Argentina is willing to negotiate to avoid a catastrophic default but is waiting for a U.S. judge to approve the country's request for more time to pay $1.5 billion in bad debts, Argentina's economy minister said Wednesday.
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S&P breaks record; Google's stock tops $1,000 on earnings
The reassuring signals on profitability augmented investors' relief over the resolution earlier in the week of the budget impasse in Washington that had threatened to trigger a potentially catastrophic default on the U.S. debt.
-
Joe Biden Signs Debt Ceiling Bill Into Law, Averting Default
US President Joe Biden on Saturday signed into law a debt ceiling bill passed by Congress after weeks of wrangling, moving to avert a catastrophic, self-induced default in the world's biggest economy.
-
US House Passes Debt Ceiling Deal, Bill Now Moves To Senate
US lawmakers voted to raise the national borrowing limit as a crucial first step to averting a catastrophic default, greenlighting a pact struck between Washington's warring parties after weeks of brinkmanship and fraught backroom deal-making.
-
Race Against Time For US Debt Crisis Bill In Congress
Republican and Democratic leaders scrambled Monday to secure congressional support for a bill aimed at avoiding a catastrophic US debt default -- with just one week left before the government starts running out of money.
-
"Confident" In Reaching Deal To Avert US Debt Default, Says Joe Biden
President Joe Biden said Wednesday he is confident a deal can be reached with Republicans leaders to avert a potentially catastrophic US debt default as early as June 1.
-
Australia Cancels Quad Summit After Biden Calls Off Trip Amid Debt Crisis
Joe Biden and opposition Republican leaders on Tuesday offered hope of a deal that could avoid a catastrophic US debt default, although the president was forced to shorten an upcoming Asia-Pacific tour for further crisis talks.
-
Joe Biden Cancels Post-G7 Asia Tour Amid Debt Crisis: Sources
US President Joe Biden will cut short a major trip to Asia this week, returning Sunday to Washington for high-stakes negotiations with Republicans to avert a potentially catastrophic debt default, according to two people familiar with his plans.
-
Joe Biden Warns Of "Catastrophic" Consequences On Economy If US Defaults
President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy if the country defaults, as negotiations with Republicans over a debt deal are expected to resume in the week ahead.
-
What Happens If The United States Defaults On Its Debt?
After narrowly avoiding a shutdown of the US government, President Joe Biden's Democratic lawmakers and the Republican opposition face an even more high-stakes task: forging an agreement to raise the country's borrowing limit or risk a catastrophic default.
-
'Government Took Control Of IL&FS To Avert Catastrophic Damage'
The government said IL&FS was not making enough profits to take care of its interest expenses, leading to defaults and rating downgrades.
-
"Catastrophic Impact" Of IL&FS Meltdown, Government Warned In Sunday SOS
The government's dramatic takeover of the Infrastructure Leasing & Financial Services (IL&FS) group came within a day of a confidential Finance Ministry note that had warned that "the future impact of more defaults in the group may be catastrophic" for financial stability.
-
For Greece, The Worst Catastrophe Now Would be to Stay in The Eurozone
A Grexit, with a managed default and devaluation to kickstart recovery, is the only deal that should be on the table.
-
Greek PM Warns of 'Difficult Compromise' After Default Threat
Greek premier Alexis Tsipras warned Greece on Saturday to prepare for a "difficult compromise" with its EU-IMF creditors as his closest advisors delivered a last-chance proposal to avert a catastrophic default by Athens.
-
Argentina's Debt Fight: What it is, Why it Matters
Time to resolve Argentina's long battle with creditors is running out. Argentina owes an interest payment to the majority of its creditors on Monday, though the government has a 30-day grace period after that to avoid going into another catastrophic default.
-
At United Nations, Argentina Remains Defiant on $1.5 Billion Bad Debts
Argentina is willing to negotiate to avoid a catastrophic default but is waiting for a U.S. judge to approve the country's request for more time to pay $1.5 billion in bad debts, Argentina's economy minister said Wednesday.
-
S&P breaks record; Google's stock tops $1,000 on earnings
The reassuring signals on profitability augmented investors' relief over the resolution earlier in the week of the budget impasse in Washington that had threatened to trigger a potentially catastrophic default on the U.S. debt.
