Economy of the European Union
EU insider at the helm
Luxembourgs Jean-Claude Juncker was approved Tuesday as the next president of the European Commission, winning the backing of European lawmakers to head the EUs powerful executive for the next five years.
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BNB Starts Procedure for European Banking Supervision
The Bulgarian National Bank (BNB) launched the procedure for starting a peer review of Bulgaria's banking supervision, said the bank in a statement.
Bosnia Hopeful Ahead of Donors Conference
Bosnia's Foreign Minister, Zlatko Lagumdzija, on Tuesday said he was confident that enough money would be raised at Wednesday's donors conference in Brussels to meet the country's immediate needs.
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UGS Nezavisnost leaves Social and Economic Council
BELGRADE - The Executive Committee of the United Branch Unions “Independence” (UGS Nezavisnost) decided on Monday that its representatives will withdraw from the Social and Economic Council, saying that they refuse to take part in “the calculated, systemic suppression of social dialogue”.
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Greece comfortably beats budget target for first six months of 2014
Greece beat its budget target for the first half of the year, with a primary surplus of 712 million euros, the Finance Ministry said on Monday.
This figure was far better than the governments target of a 635-million-euro deficit.
Fiscal targets are being met for a third consecutive year,» said Deputy Finance Minister Christos Staikouras.
Draghi seen handing 700 bln euros to banks in ECB offer
By Alessandro Speciale & Andre Tartar
Mario Draghis newest stimulus tool will hand banks more than 700 billion euros ($950 billion) of cheap funding, economists say.
Albania Govt Dodges Promise to Ex-Political Prisoners
The new bill targets compensation at former political prisoners who are over 70 years old, but not enough cash has been allocated in the state budget to ensure that the Socialist Party’s election campaign promises before its victory in the June 2013 parliamentary elections will be fulfilled.
Portuguese, Greek bonds advance as bank payment concern wanes
Lucy Meakin & Neal Armstrong
Portuguese government bonds advanced for a second day as investor concern diminished that missed payments by a Portuguese bank holding company would fuel a new banking crisis in the euro areas most indebted nations.
Bosnia Sums Up Flood Needs Before Donors Conference
As a donors conference prepares to start work this week in Brussels, Bosnia said it had raised only 250 million euro of the 2 billion it needs to repair the damage caused by devastating floods in May.
The money gathered so far came from credits, initial donations and from the budgets of the country's own institutions.
ECB under pressure to stem strength of euro down
The European Central Bank (ECB) is coming under increasing pressure to do more to stem the strength of the euro currency, which is hurting exporters and keeping a lid on the regionâs recovery from recession.
ECB President Mario Draghi is likely to face questions on what can be done to reduce the value of the euro when he faces lawmakers at the European Parliament July 14.
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