Economy of the European Union

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.

 Hardouvelis tells Eurogroup peers that reform effort is ongoing

Greece has committed itself to the immediate fulfillment of some prior actions required for the disbursement of the next bailout sub-tranches, the head of the Eurogroup stated on Thursday following a meeting of the council of eurozone finance ministers in Luxembourg.

The lowest price levels in the European Union for 2013 for consumer goods and services were found in Bulgaria - 48% of the EU average, according to Eurostat latest data.

BELGRADE - The Serbian parliament ratified on Thursday three international loans which will allow for a revamp of 1,100 km of roads in Serbia.

BELGRADE - The European Bank for Reconstruction and Development (EBRD) has invested around EUR 300 million in the Serbian agribusiness sector, and is ready to continue to fund all good projects and companies in this sector that are not over-indebted, the head of the EBRD's Agribusiness Sector Gilles Mettetal said on Thursday.

By Neal Armstrong & Eshe Nelson

The euro-area’s higher-yielding government bonds declined amid speculation a rally that has driven borrowing costs to record lows is losing momentum.

The Romanian parliament on Monday approved Mugur Isarescu as head of the Romanian national bank, BNR, for another term.

Isarescu will lead the key fiancial institution for another five years, after serving as governor since 1990. He holds the record for the longest serving central bank governor in the world.

 Senior official says that bloc will only accept limited fine-tuning to Greece’s streamlining project

By Eleni Varvitsioti

Greece’s creditors will not accept any changes to the core of the country’s streamlining program, only limited peripheral fine-tuning, as is the case during every assessment of the program, according to a top eurozone official in Brussels.

Foreign direct investment in Bulgaria in April 2014 amounted to EUR 106.6 M, compared to a rate of EUR -67.8 M in April 2013, according to the Bulgarian National Bank(BNB).

Businessman Thomas Liakounakos was ordered to post 300,000 euros in bail and was banned from leaving the country on Monday after testifying in front of special anti-corruption prosecutor Costas Sargiotis.