Economy of the European Union
EU seeks to rein in competition from foreign rivals
The European Union unveiled plans Wednesday to fight unfair competition from foreign companies backed by powerful non-EU trade rivals amid China's growing influence in the bloc's single market.
European Central Bank: Bulgaria Could Join Eurozone’s Waiting Room by the End of 2020
That was said by the Bank's board member Fabio Panetta
Bulgaria could join waiting room to adopt the euro until the end of 2020, European Central Bank board member Fabio Panetta said in an interview for Le Monde.
The institution praises the efforts of Bulgaria and Croatia to switch to the common currency, Panetta added. He underlined that the two countries rely on tourism.
Greece makes competitiveness leap
Last summer's change of government played a decisive role in improving Greece's ranking on the global competitiveness chart by nine positions compared with 2019, according to the Swiss-based Institute for Management Development (IMD).
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May revenues in deep slump
The good news of a relatively small decline in state revenues, reflected on the budget data for March and April, was dampened last month by a slump of 33.5% compared to the budget target.
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Next bond issue is expected from this fall
After three successful bond issues in the year's first half, including two during the coronavirus crisis, Greece will make another market foray in September or October.
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Greece counts on EU support for restructuring economy
Greece needs to make the most of the European Union resources it will receive to contain the blow of the novel coronavirus pandemic on its economy not by handing out benefits but by restructuring its economy, government officials and economists agree.
Council of Ministers Approves Bulgarian Development Bank to Acquire Shares of Fibank
At a meeting in the Council of Ministers on June 12, the Government discussed a Draft Protocol Decision on actions taken by Bulgarian Development Bank AD (BDB) to acquire shares from the capital increase of First Investment Bank (FiBank).
Bulgarian State Acquires 26% of Fibank Due to ERM-2
The Bulgarian state and an anonymous party participated in the auction for 110 million securities, which allow raising 100 million euros from First Investment Bank - Fibank. The capital increase is a condition for Bulgaria to apply for the waiting room of the Eurozone - ERM-2. Bulgaria's Minister of Economy Emil Karanikolov has confirmed the purchase, but did not specify in what form it was
Staikouras says Eurogroup praised Greek moves
The Eurogroup acknowledged on Thursday the positive course of the Greek economy before the pandemic and the government's rapid reaction to the spread of the coronavirus, and gave the nod for measures benefiting Athens to the tune of 748 million euros.
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Eurogroup green-lights disbursement of 748 million euros
Eurozone finance ministers on Thursday approved the disbursement of 748 million euros to Greece from profits made by European central banks that purchased Greek sovereign bonds.