Economy of Europe

The ECB Checks Whether Banks in Bulgaria Can Cope with External Risks

The ECB's assessment of six major banks working in the country has to show whether they can resist external as well as internal risks. Stress tests are already running and are due to the demand for Bulgaria to enter the Eurozone waiting room (ERM II mechanism) and the Banking Union, the 24-hour newspaper writes.

Battle of the budget forecasts has been postponed until June

The Eurogroup has postponed the "battle of forecasts" on the Greek budget until after the European elections. On June 5, the report of the European Commission on the third post-bailout assessment will reflect its own estimate of the Greek primary surplus (and the recent voting of measures for 2019). However, the big battle will take place this fall.

Editorial: Old party politics alive and kicking

Eurogroup finance ministers and Bank of Greece Governor Yannis Stournaras may be ringing the alarm bell regarding the fiscal consequences of a barrage of handouts that the government is announcing, but it appears that the PM's office has decided to press forward anyway in order to change the negative political climate.

First railcars for Thessaloniki metro arrive from Italy

The first four railcars to be used in the new Thessaloniki metro system arrived in Greece's northern port city on Wednesday.
The railcars were transported by truck from Hitachi Rail Italy's manufacturing plant in Reggio Calabria, southern Italy.
They will be assembled and positioned on the tracks, before being unveiled on Thursday.