Economy of the European Union

A large group of professional forecasters cut their outlook for eurozone inflation and growth, underlining a trend that could prompt the European Central Bank to take more policy action to kick-start the region's flagging economy.

Croatia's centre-left government has presented a rebalanced state budget for 2015, cutting the deficit by some 390 million euro from about 2 billion euro to 1.57 billion euro, or 3.9 per cent of GDP.

Finance Minister Boris Lalovac held talks with all ministers to see where cuts in spending were possible.

Small and medium-sized companies in Greece have the highest need for bank funding in the eurozone, but find it hard to get, a survey by the European Central Bank and the European Commission showed on Wednesday.

Industrial production in the European Union (EU 28) and in the Eurozone rose by 0.6% in September 2014 compared with August 2014, with Romania having been among the countries where the industrial production recorded the highest growth rates month on month, according to the data released on Wednesday by the European Statistical Office (Eurostat).

By Maria Petrakis

Josef Ackermann used his clout as head of Deutsche Bank AG to help save the euro by negotiating the biggest debt restructuring in history. Now, he's been tapped to resuscitate a victim of that deal.

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By George Georgiopoulos

Greek consumer prices fell 1.7 percent in October, with the annual pace of deflation accelerating from a 0.8 percent drop in September, data from the country's statistics service showed on Monday.

October's reading was at the highest pace since December 2013, when the annual pace of deflation also hit 1.7 percent.

Finance Ministry sources told Kathimerini on Monday that troika representatives are due to return to Athens at the end of the week but Greece’s lenders were not able to confirm this.

Montenegro's cabinet on Monday was due to approve the 2015 Budget Bill after the earlier agreed law was re-tuned.

The cabinet agreed to set a figure of 2 billion euros, an increase in the budget of 455 million euros compared to this year.

The European Investment Bank has included Turkey into its new program to boost innovation in the EU, with Tofaş becoming the first Turkish firm to make a deal with the bank he European Investment Bank (EIB) has signed a 55 million-euro agreement to support research, development and innovation activities with a Turkish company in the framework of its newly launched financial program to encoura

BELGRADE - French companies are ready to take part in the projects of public-private partnerships (PPP) in Serbia and help local self-governments solve infrastructural problems through this investment model, officials stated at the annual French-Serbian economic summit on PPP.