Debt

International Credit Rating Agency Fitch did not change Turkey?s outlook in its recent evaluation of the country, which resulted in comforting the markets slightly. Many people were not expecting Fitch to lower the ratings with elections approaching, but looking at the positive reaction of the markets, we concluded that ?it means some uneasiness did exist.?

Property sales increased by 15 percent from the same month of the previous year with the help of a decrease in the interest rates on housing loans, said the Turkish Statistics Institute (TÜ?K) in a statement on March 24.

The surge came after a drop of 1.7 percent in January.

Greece and the European Union could reach a deal as early as this week to allow the release of badly needed aid funds for Athens, European Parliament President Martin Schulz said Tuesday.

By Prokopis Hatzinikolaou

Lawmakers in Bulgaria gave on Wednesday the green light to changes to the Bank Insolvency Act allowing for a temporary assignee to manage the assets of troubled Corporate Commercial Bank (Corpbank or KTB).

Prior to the amendments, such a development contravened the legislation, which had required that a court decides to open insolvency proceedings first.

Novinite is publishing the full text of a statement by Bromak, the majority shareholder of Corporate Commercial Bank (Corpbank or KTB), on proposed changes of Bulgaria's Bank Insolvency Act currently subject to a reading in Parliament.

Greece's leftist government has said that future proceeds from privatizations would be diverted to pension funds instead of debt repayment ? a move the country's creditors are likely to oppose.

By Sotiris Nikas

Greek representatives in talks with the country?s creditors are making a last-ditch effort to secure liquidity for state coffers through the disbursement of part of the outstanding bailout tranches.

By Prokopis Hatzinikolaou

Alternate Finance Minister Nadia Valavani on Friday tabled an amendment in Parliament to a part of the bill on the humanitarian crisis regarding the lump sum repayment of expired debts.

Cyprus will not need all of the 10-billion-euro bailout it received in 2013 as its economy is recovering faster than expected, the country?s finance minister told AFP.