Economy of the European Union

Banks in the eurozone will get more time to set aside cash to cover for loans that have gone or will go unpaid after the European Central Bank bowed to pressure from Brussels to ease its rules on the matter.

Fitch Ratings said that it expects euro adoption in central and eastern European countries, including Bulgaria, Romania, and Croatia, to have a positive impact on their sovereign creditworthiness, reports SeeNews. 

One year to the day Greece exited its third and final bailout program, the European Commission hailed the country's efforts to reform, while calling on the government to address the consequences of the 10-year economic crisis and continue to reform.

Greece is in second-to-last place among the 19 eurozone countries and 24th among all 28 European Union member-states in electronic payments per inhabitant, including payments with credit and debit cards and online transfers of money and e-payments of bills, according to European Central Bank data for 2018.

First, the good news: The government is on a mission to brief our eurozone partners, the other European Union members and our creditors on its plans to boost growth and its intentions to fast-forward long-stagnant reforms by cutting back on excessive spending and pushing privatizations, and then, and only then, present its demands.

An EU study has revealed new data on Europeans' confidence in the EU, which countries are most optimistic and pessimistic about the future of the European Union, their support for the euro, their attitude to immigration, unemployment, climate change and more.

The leader of the MeRA25 party Yanis Varoukafis said on Saturday that the fact that former Eurogroup chief Jeroen Dijsselbloem was considered by Europe's 28 finance ministers as a candidate to replace Christine Lagarde as head of the International Monetary Fund (IMF) was proof that the European Union's establishment has no regard for technical capabilities.

Greece can only achieve a high economic growth rate if direct investments increase, Bank of Greece Governor Yannis Stournaras said in an interview with US magazine Fortune.

Domestic and international conditions seem ideal for the still embattled Greek economy and epecially for the private sector which has been struggling for years.

Kristalina Georgieva receives France's support in determining the next candidate for managing director of the International Monetary Fund, Bloomberg reported.