European Commission

A last-minute letter by Greek PM Alexis Tsipras to Eurogroup head Jeroen Dijsselbloem to request a bailout extension reportedly states that “the loan will be exclusively used to pay Greece’s debt, either externally or internally.”

German Chancellor Angela Merkel on Tuesday reiterated that there was still an open channel of communication between creditors and capital control-shocked Greece

She spoke in Berlin during a during a joint press conference with the visiting PM of Kosovo, Isa Mustafa.

Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its debt repayment to the IMF, which falls due later on Tuesday.

Varoufakis said this in a response to a question whether the country will make the EUR 1.6 B payment due to the IMF as he was walking into the building of the finance ministry on Tuesday, daily Kathimerini reports.

All online pharmacies or retailers of medicines legally operating in the European Union should display a new logo from 1 July to help patients avoid sellers of fake medicines.

The logo, which should appear on the webpages of online pharmacies or other online retailers, was introduced by the European Commission under the Falsified Medicines Directive to protect buyers of medicines.

Bulgaria will contribute EUR 100 M towards projects financed by the European Fund for Strategic Investment (EFSI), the Finance Ministry in Sofia has said.

The contribution will be made through co-financing of projects approved by state-owned Bulgarian Development Bank, the Finance Ministry said in a statement on Monday.

Prime Minister Alexis Tsipras had telephone contact with European Commission President Jean-Claude Juncker in an effort to find a mutually viable compromise solution to the Greek problem by Tuesday night. Sources state that Tsipras has made a proposal that would be of mutual benefit to both sides and that would solve the country’s credit problems.

Bulgaria's State Fund Agriculture (SFA) has paid nearly BGN 703 000 to a total of 66 farmers affected by the Russian import ban on certain agricultural and food products.

Despite government sources leaking the existence of a new improved proposal submitted to Greece by international creditors, there was exclusive information that there was no new proposal made to the Greek government.

Macedonia's central bank has told the commercial banks to pull their money out of banks in Greece as a "preventive measure", after Greece's international creditors refused to extend bailouts to Athens.

As a result, Greece has closed its banks to prevent a mass withdrawal of savings.

Three Bulgarian projects aimed at improving transport infrastructure have so far been granted funding by the European Commission under the new the Connecting Europe Facility (CEF).

The EC has granted funding of over EUR 13 B under the CEF to finance 276 projects in 28 Member States, including 3 projects in Bulgaria.