Economy of the European Union

Greece is set to ask for a brief extension to its current bailout and is discussing the possibility of the International Monetary Fund maintaining a prominent role in whatever program will follow, Kathimerini understands.

The European Investment Bank (EIB) is lending to Bulgaria EUR 500 M for co-financing priority projects supported by EU funds during the 2014 - 2020 Programming Period, said Bulgaria's Finance Ministry.

The EIB loan will cover the national co-financing contributions under Operational Programmes in the areas of transport (including urban transport) and the environment.

Loans to the private sector in the euro area, a gauge of economic health, fell year-on-year in October, but by slightly less than in September, the European Central Bank said on Thursday.

BRUSSELS - Morale in the eurozone rose for the second straight month in November as a pick-up in industry sentiment just outweighed increased pessimism among consumers, offering a tentative sign that the bloc is avoiding outright stagnation.

Cypriot lender Bank of Cyprus posted a profit of 76 million euros ($95 million) in the first nine months of the year, helped by the disposal of assets in Ukraine, Romania and Serbia.

It also said its shares would resume trading in mid December after an 18-month suspension.

EU Commission President Jean-Claude Juncker is set to announce what he describes as an investment package of EUR 315 B for the next three years.

The so-called "Investment Plan" is aimed at boosting the growth of EU economy by 0.7 to one percent and opening a million new jobs.

A second vote whether to update this year's state budget is scheduled for Wednesday.

Eurozone bond yields held at record lows on Tuesday with financial markets lulled by European Central Bank President Mario Draghi's vow to lift inflation from near-zero level by whatever means necessary.

The leaking of documents on the rescue of Cyprus’s second-biggest bank distorts the truth about the country’s bailout and may damage confidence in the euro, former European Central Bank Governing Council member Panicos Demetriades said.

 KEPE says GDP could grow by up to 20 pct in the next six years

The Greek economy may be rebounding, but there are still risks that could derail this recovery, according to three separate studies published on Thursday by the Center of Planning and Economic Research (KEPE), BNP Paribas and the Economist.