Economy of the European Union

In ‘crucial week’ Mitsotakis braces Greeks for coming economic crisis, outlines measures

The coronavirus epidemic is subsiding, but the war is not won yet, Prime Minister Kyriakos Mitsotakis said in a televised message this evening, thanking the Greek people for their trust and discipline and calling on them to continue to respect restrictive measures.

State to bridge gap left by private sector

From mid-March up until the end of May at the earliest, the state looks set to be the main - if not the only - income provider for about 3 million households in Greece, or 70 percent of all families.

The reduction of the private sector's contribution toward the country's total income is unprecedented and the gap will have to be bridged (although not covered) by the state budget.

The battles of the day after

The coronavirus will at some point go away. The big question is what the pandemic will leave in its wake, here in Greece and the rest of the world. It is too early to make predictions but it's almost certain that only a few things will stay the same.

Bulgaria - One Step Away from Getting "Green Light" for Eurozone Waiting Room

Bulgaria's Finance Minister Vladislav Goranov has confirmed that Bulgaria is continuing its plan to enter the ERM-2 exchange rate mechanism. One of the commercial banks in the country still need to comply with the European Central Bank's recommendations for additional capital buffers. In doing so, Bulgaria will meet the requirements for applying to join the European Banking Union and ERM-2.

Editorial: Framing the obvious course of action as a triumph

Albeit at the last minute, eurozone countries managed to strike a compromise on an economic package to handle the enormous repercussions of the coronavirus pandemic.

In a previous editorial we had underlined that there was no other choice unless member-states want the breakup of the eurozone.

Brussels sees Greek recession at 8-9 pct this year

The European Union estimates that the Greek economy will contract by 8 to 9 percent this year due to the coronavirus pandemic, much higher than the government's projections.

Officials in Brussels revealed that forecast on Wednesday, during a conference call with the finance ministers of the Greek government regarding the assessment of the Greek economy.

PM Borissov: Bulgaria will Apply for the ERM 2 by the End of April

"I shouldn't have to bend over to the Eurozone waiting room. You see how much money they are allocating. Bulgaria has an excellent financial and economic structure and has to meet only one requirement, in order to join ERM2 and we will do it immediately - we will apply for the Eurozone again.

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