Economy of the European Union

Bulgaria Faces Loss of Up To EUR 97 M in EU Funding for Agriculture

Bulgaria may lose EU funding for agriculture of EUR 53-97 M by end-2014, according to caretaker Agriculture Minister Vasil Grudev.

Grudev explained in an interview for 24 Hours Daily that Bulgaria had to absorb EUR 397 M in EU funding by the end of 2014, while the amount of payments requested at the European Commission by early August totaled EUR 50 M.

In talks with Draghi, Hardouvelis expresses opposition to third loan program

In talks with European Central Bank President Mario Draghi in Milan, Greek Finance Minister Gikas Hardouvelis has reiterated the Greek government's opposition to the prospect of a third loan program for the country, which is just beginning to see signs of an economic upturn following a recession exacerbated by four years of austerity.

Encouraging signs

Wednesday turned out to be a particularly good day for Greece with regard to the operations of the European Union.

The country’s commissioner, former Defense Minister Dimitris Avramopoulos, was assigned a significant and – as it turned out – reinforced portfolio.

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