International Monetary Fund

FinMin: 5 pct cut in social security contributions is top goal

The top goal is to cut the social security contributions by 5 percent and the issue will be discussed with the International Monetary Fund (IMF), the European Commission and the World Bank officials next week, Public Finances Minister Ioana Petrescu told a news conference on Thursday.

PM Ponta, to ministers: Be properly prepared to have a very clear discussion with EC, IMF and WB

Prime Minister Victor Ponta on Wednesday asked the ministers in charge to properly prepare the documents concerning Romania's commitments with the international partners - the European Commission (EC), the International Monetary Fund (IMF) and the World Bank (WB) - and the measures taken into account by the Government for the second part of the year and for the budget for 2015.

Cyprus savers sue ECB, Commission amid losses in island rescue

By Aoife White

Cyprus bank depositors sued the European Central Bank and the European Commission for putting them in the firing line as part of last year’s rescue package for the crisis-hit Mediterranean nation.

The savers filed four lawsuits demanding compensation after they were hit by forced losses on deposits at Bank of Cyprus Pcl and Cyprus Popular Bank Pcl.

Fitch raises sovereign rating one notch

 Greece rises from B- to B with a stable outlook, thanks to primary surplus and increased cash flexibility

Fitch Ratings upgraded Greece one notch from B- to B, with a stable outlook, on Friday, stressing that the fiscal streamlining, as confirmed by its primary surplus in 2013 – which is set to grow bigger this year – will allow the country to enjoy more funding flexibility.

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