Debt

The International Monetary Fund on Thursday said it could no longer release funds to Cyprus under its bailout this week, after the euro zone government suspended a foreclosure law that was required under the loan program.

Greece’s three-year yields on Tuesday approached the highest level since the nation restructured its debt in 2012.

The rate jumped 64 basis points to 10.90 percent after closing at 11.13 percent on Friday.

[Bloomberg]

Bulgaria's Supreme Administrative Court has delayed until February 9 hearings on the lawsuit launched by shareholders of collapsed Corporate Commercial Bank against the revocation of the bank's licence.

By Dimitra Manifava

The Development Ministry appears unwilling to grant another extension to the implementation of a law protecting primary residences from repossession by banks over unpaid debts, as it believes that the legal framework dating from 2010 is sufficient to protect homeowners in financial difficulties.

The Romanian parliament on Friday is to debate the 2015 budget, which is targeting a deficit of 1.83 per cent of gross domestic product, GDP.

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Credit ratings agency Standard & Poor's cut Bulgaria's sovereign credit ratingto BB+ from BBB- with a stable outlook.

Bank of Cyprus shares will resume trading on the Cyprus Stock Exchange on Dec. 16, bourse authorities said on Friday, some 21 months after the stock was suspended during a chaotic bailout of Cyprus.

The stock will start trading at 0.24 euros a share, the stock exchange said in a statement.

Greek shares dived Tuesday by the most in decades on concerns that the country is heading for a political crisis that could put in jeopardy its vital bailout program.

 BoG has decided to hold onto 2 bln euros of the bank bailout fund’s unused resources as a precaution

By Yiannis Papadoyiannis

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Regardless of how many companies in Romania are insolvent, it is currently important to have a fresh law, but in my opinion, restructuring is needed by all the 700,000 companies in our country, Adrian Vasilescu, advisor to the Governor of Romania's National Bank /BNR/, told a Thursday's specialist conference.