International Monetary Fund

Romania is to open a legal case against Italian energy holding Enel at the Paris-based International Court of Arbitration for breaching privatization terms concerning the sale of the local company, Electrica Muntenia Sud.

Greece's economy should grow 0.7 percent this year, pulling clear of a six-year recession, but its soaring unemployment rate is likely to drop less than hoped, the country's leading economic think tank said on Wednesday.

By Nikos Chrysoloras

Overhauls in Greek markets, the economy and public administration are delivering results, the European Commission said Wednesday, signaling divisions among official creditors over the country’s progress.

BELGRADE - Serbia will end up in a situation of no longer being able to finance its debts, of seeing the interest rates growing and everyone working only to pay interests, unless radical changes are introduced by the end of the year, Serbian Deputy Prime Minister Kori Udovicki said Wednesday.

Adjustment programs in debt-hit euro area countries would run more smoothly if governments implemented structural reforms to boost productivity, according to a staff discussion note published by the International Monetary Fund (IMF) on Tuesday.

Greece's economy is expected to grow by 0.7 percent this year pulling itself out of a six-year recession, helped by higher tourism revenues and stronger household spending, the Athens-based IOBE think tank said on Wednesday.

IOBE had earlier predicted a small economic expansion for the year, without setting a forecast.

 Size of the country’s arrears and a possible haircut are not a priority in the government’s planning

By Sotiris Nikas

By Angeliki Koutantou

Shares in Greek renewable energy firm ELTECH Anemos dropped on their first day of trading on the Athens Stock Exchange on Tuesday, as traders said its initial public offering price was seen as expensive.

Two pieces of news from Ankara over the past month carry hints about the future of economic governance in Turkey. The first is the hushed appointment of Deputy Prime Minister Ali Babacan’s media consultant Halit Ertuğrul to the Central Bank as a consultant. The second is Treasury advisor İbrahim Çanakçı’s appointment to the IMF as a director.

 Whether a single entity is chosen or lenders are asked to deal with NPLs individually, action is essential

By Dimitris Kontogiannis