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April 2, 2013 | By Anthee Carassava, This post has been updated. See the note below for details.
ATHENS -- The finance minister of Cyprus, Michalis Sarris, resigned Tuesday after brokering the final details of a complex and controversial bailout cobbled together to keep the island's faltering financial system from crumbling. Sarris' decision to quit the government was accepted by President Nicos Anastasiades, who issued a terse statement thanking him for his service. It was not immediately clear who would replace Sarris, the target of fierce criticism for his handling of a $20-billion rescue deal that forces many depositors at Cyprus' two biggest banks to chip in with emergency levies up of to 37.5% on their savings.
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WORLD
February 23, 2014 | By Carol J. Williams
MOSCOW - Russia will withhold further loans and aid to Ukraine in the wake of the tumultuous leadership changes underway in the former Soviet republic until it becomes clear who will be in charge in the new interim government, Finance Minister Anton Siluanov said Sunday. Siluanov also said Moscow believes Ukraine should turn to the International Monetary Fund for help averting bankruptcy and reforming its corrupt and massively indebted budget, a signal that the Kremlin may be unwilling to further extend loans and subsidies to a nation now under the sway of pro-Western opposition figures.
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WORLD
December 14, 2012 | By Emily Alpert
The kidnapped mother of the Nigerian finance minister has been freed, Nigerian officials said Friday, ending the search five days after the elderly retiree was seized outside her home in Delta state. “The Okonjo family is full of thanks to the Almighty for this happy development,” Paul Nwabuikwu, an adviser to Finance Minister Ngozi Okonjo-Iweala, said in a Friday statement. Few details were available about how Kamene Okonjo was returned. Nigerian police could not be reached by phone and did not immediately respond to an email from The Times seeking comment.
WORLD
June 6, 2013 | By Maher Abukhater
RAMALLAH, West Bank -- Palestinian President Mahmoud Abbas swore in a new government Thursday headed by a British-educated academic with no political experience. New Prime Minister Rami Hamdallah, who has served since 1998 as president of An Najah National University in Nablus, replaces Salam Fayyad, who resigned in frustration in April. Though admired by Western nations for his financial acumen and political reforms, Fayyad, a political independent, was never fully embraced by the Palestinian public and was resented by the two main Palestinian factions, Abbas' Fatah party and its rival, the Islamist group Hamas.
WORLD
January 17, 2013 | By Anthee Carassava, Los Angeles Times
ATHENS - Greek lawmakers voted Friday to launch a congressional investigation of allegations that former Finance Minister George Papaconstantinou tinkered with a list of suspected tax cheats, erasing the names of three of his relatives in the biggest tax-evasion scandal in decades. The 265-6 vote, with three abstentions and some invalid ballots, capped an explosive 14-hour parliamentary debate that kicked off Thursday and put the former political strongman and architect of the country's first austerity program at the center of a murky tale of coverups, intrigue and corruption.
BUSINESS
November 4, 1995 | From Reuters
At the end of a week in which he narrowly lost the Quebec referendum on sovereignty and announced his own eventual resignation, Quebec Premier Jacques Parizeau demoted his Finance Minister. In a Cabinet shuffle Friday, Parizeau moved Jean Campeau from the finance portfolio to transport, a significantly less prestigious post. Quebec separatists were defeated 50.6% to 49.4% in Monday's referendum on Quebec sovereignty.
NEWS
June 19, 1997 | From Times Wire Services
Israel's popular finance minister angrily resigned Wednesday after the Cabinet approved a currency liberalization plan he opposed. The plan to ease government-imposed exchange rates and allow the Israeli shekel's value to fluctuate more freely was backed by Prime Minister Benjamin Netanyahu, who said he regretted Dan Meridor's decision and insisted that he gave him "all the backing possible . . . even when I felt he was not fulfilling his role 100%."
WORLD
February 26, 2005 | From Times Wire Reports
French Finance Minister Herve Gaymard resigned after an outcry over the $18,500-a-month luxury apartment the ministry rented for his family while the government tries to control public spending. President Jacques Chirac named France Telecom boss Thierry Breton to succeed Gaymard, who had spent less than three months at the finance ministry.
BUSINESS
February 9, 1985
Finance Minister Ernane Galveas said problems with the International Monetary Fund over Brazil's inflation--227% last year--make it impossible to complete refinancing of $45 billion in debt with international banks before President-elect Tancredo Neves takes office March 15, the first civilian government after 21 years of military-backed regimes.
WORLD
November 29, 2004 | From Times Wire Reports
Finance Minister Nicolas Sarkozy took over the leadership of France's ruling party, giving him a platform to launch a presidential campaign in 2007 and setting up what is likely to be two years of intense political combat with incumbent Jacques Chirac. Chirac, who turns 72 today, has hinted that he may run for a third term, but Sarkozy, 49, has spoken out about the need for younger leaders to take charge and implement economic and social reforms.
WORLD
April 2, 2013 | By Anthee Carassava, This post has been updated. See the note below for details.
ATHENS -- The finance minister of Cyprus, Michalis Sarris, resigned Tuesday after brokering the final details of a complex and controversial bailout cobbled together to keep the island's faltering financial system from crumbling. Sarris' decision to quit the government was accepted by President Nicos Anastasiades, who issued a terse statement thanking him for his service. It was not immediately clear who would replace Sarris, the target of fierce criticism for his handling of a $20-billion rescue deal that forces many depositors at Cyprus' two biggest banks to chip in with emergency levies up of to 37.5% on their savings.
WORLD
February 6, 2013 | By Emily Alpert
Germany's education minister defied calls for her resignation Wednesday after a university stripped her of her doctorate upon concluding she had plagiarized parts of her thesis. Allegations that Annette Schavan had lifted parts of her 1980 thesis have dogged her for months. The University of Dusseldorf announced Tuesday night that an internal probe had determined the minister had “systematically and deliberately” used uncredited work that was not her own.  A faculty council voted to invalidate the doctorate.
BUSINESS
January 22, 2013 | Bloomberg News
Stock and bond markets in the U.S. were closed Monday for the Martin Luther King Jr. holiday, but trading took place in the rest of the world. European stocks rose while German bonds declined as European finance ministers met for the first time this year to discuss the debt crisis. The Stoxx Europe 600 Index added 0.3%, with the volume of shares changing hands 34% less than the 30-day average. In Japan, the yen rose from a two-year low, strengthening 0.5% to 89.64 yen per dollar.
WORLD
January 17, 2013 | By Anthee Carassava
ATHENS -- Greek lawmakers are to decide Thursday whether two former prime ministers and two ex-finance ministers should be investigated and potentially prosecuted on allegations of covering up suspected tax cheats in the nation's biggest tax-evasion scandal in decades. The explosive controversy puts former Finance Minister George Papaconstantinou at the center of a murky tale of intrigue and alleged cover-ups that has gripped Greeks for months. Near-daily disclosures have undermined the government's bid to revive public confidence and to crack down on widespread tax evasion.
WORLD
January 17, 2013 | By Anthee Carassava, Los Angeles Times
ATHENS - Greek lawmakers voted Friday to launch a congressional investigation of allegations that former Finance Minister George Papaconstantinou tinkered with a list of suspected tax cheats, erasing the names of three of his relatives in the biggest tax-evasion scandal in decades. The 265-6 vote, with three abstentions and some invalid ballots, capped an explosive 14-hour parliamentary debate that kicked off Thursday and put the former political strongman and architect of the country's first austerity program at the center of a murky tale of coverups, intrigue and corruption.
WORLD
December 14, 2012 | By Emily Alpert
The kidnapped mother of the Nigerian finance minister has been freed, Nigerian officials said Friday, ending the search five days after the elderly retiree was seized outside her home in Delta state. “The Okonjo family is full of thanks to the Almighty for this happy development,” Paul Nwabuikwu, an adviser to Finance Minister Ngozi Okonjo-Iweala, said in a Friday statement. Few details were available about how Kamene Okonjo was returned. Nigerian police could not be reached by phone and did not immediately respond to an email from The Times seeking comment.
WORLD
December 10, 2012 | By Emily Alpert
Kidnappers seized the mother of the Nigerian finance minister on Sunday from her home in Delta state, an unusually prominent victim of a crime that has plagued the oil-rich region. Nigerian police said they were actively searching for Kamene Okonjo, a retired professor and mother of Finance Minister Ngozi Okonjo-Iweala, a Harvard-educated economist who was recently a candidate to lead the World Bank. It was unclear Monday why Okonjo had been kidnapped. Nigerian media quoted witnesses who said as many as 10 attackers seized Okonjo at the gates of her home as she offered drinks to some workers.
WORLD
August 22, 2012 | By Anthee Carassava, Los Angeles Times
ATHENS - During Greece's three-year financial drama,Jean-Claude Juncker, the prime minister of Luxembourg, has proffered a sympathetic ear to the near-bankrupt nation as it seeks to fix its broken economy. But on a vital visit to Athens on Wednesday, the usually mild-mannered policymaker, who also chairs the meetings of the 17-nation Eurozone's finance ministers, sounded a stern warning. "I am totally opposed to a Greek exit from the euro," Juncker said after two hours of talks with Greek Prime Minister Antonis Samaras and members of his precarious coalition.
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