Economy of the European Union

EBRD Estimates Cost of Flood Damages in Serbia and B&H At EUR 3 B

The European Bank for Reconstruction and Development (EBRD) estimated the damages from the devastating floods in Serbia and Bosnia and Herzegovina at around EUR 3B. 

Official estimates of the cost are not available yet, but in its report the EBRD put the damage at around EUR 1.5-2 B in Serbia and about EUR 1.3B in Bosnia and Herzegovina.

EBRD: Flood damage to Serbia EUR 1.5-2 billion

LONDON - The devastating floods in Serbia and Bosnia and Herzegovina have already damaged their economies and will hit growth and inflation in the future as well, believes the European Bank for Reconstruction and Development (EBRD), adding that some very rough preliminary estimates put the damage in Serbia at around EUR 1.5-2 billion.

EBRD: Flood damage estimates between EUR 1.5-2 billion

EBRD: Flood damage estimates between EUR 1.5-2 billion

BELGRADE -- The damage from the devastating floods in Serbia could reach between EUR 1.5-2 billion, the European Bank for Reconstruction and Development (EBRD) has said.

In neighboring Bosnia-Herzegovina, it could reach EUR 1.3 billion, according to preliminary estimates.

Eurozone banks increase government bond holdings in April, ECB reports

Eurozone banks mainly stocked up on sovereign debt in April, data from the European Central Bank showed on Wednesday.

Italian banks bought 9.4 billion euro in government debt in April after a 2.1 billion increase in March, marking the largest monthly rise since June last year.

EU poll fears curb boost from upgrades for Greece, Spain

Lower-rated peripheral bonds inched up on Friday with niggling European Union election concerns curbing enthusiasm over the latest round of ratings upgrades.

Fitch lifted Greece’s rating for the second time in a year on Friday, while Standard and Poor’s followed through with a widely expected upgrade on Spain.

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