Economy of the European Union

 Systemic lenders cannot ignore market concerns over likely significant additional capital requirements

By Dimitris Kontogiannis

Bulgaria has observed just 16% of economic recommendations issued by the EU Commission, a European Parliament survey reveals.

The data cited by EurActiv shows the country is close to the European average, which is 18% and which shows member states largely ignore the EU Commission's proposals for reform.

By Dimitra Manifava

The Greek economy is estimated to have lost out on some 16 billion euros, or just under 9 percent of the country’s expected gross domestic product this year, as a result of delays in state payments to enterprises as well as in transactions between companies in Greece.

The European Commission has approved Bulgaria's map for granting state aid between 2014 and 2020 within the framework of the new regional aid guidelines adopted in June 2013.

The Operational Sectoral Programme 'Human Resource Development' and the Operational Sectoral Programme 'Raising Economic Competitiveness' (POS CCE) could use up 100 percent of their respective European Funds by the end of 2015, said Eugen Teodorovici, Minister of European Funds, according to a press release remitted on Wednesday to AGERPRES.

Germany's Angela Merkel signalled her readiness on Wednesday to give EU states more flexibility within current budget rules to promote growth and job creation, but made clear she will push her choice of European Commission chief over British objections.
   

National Bank of Greece is reviewing second-round bids for its London-headquartered private equity business and hopes to sell it «imminently», the bank's deputy chief executive Petros Christodoulou told Reuters.

By Evgenia Tzortzi

The government is putting pressure on banks to increase funding to enterprises in an bid to see the improvement of financial conditions reflected in the real economy.

 Finance Minister says no date has been set to discuss the lightening and sustainability of country’s arrears

By Eleni Varvitsioti

Thursday’s report by Moody’s highlighting positive developments in Greece’s fiscal health and the local credit sector is being viewed by market analysts and government officials as a prelude to a credit rating upgrade.