Economy of the European Union

Decisions on Greece could have been ‘quicker, more democratic,’ says Moscovici

Outgoing European Commissioner for Economic and Financial Affairs Pierre Moscovici on Thursday admitted that decisions reached by the Eurogroup with regard to Greece over the course of the crisis could have been "quicker and more democratic."

In historic first, Greek debt carries negative interest rate

More than a year after Greece exited its bailout programs, investors - in a historic first - have bought its short-term debt at a loss.

The country's debt management agency said Wednesday it raised 487.5 million euros ($535 million) selling 13-week treasury bills, for which the yield was -0.02 percent.

EIB lends 21.1 million euro for thermal insulation of 400 residential buildings in Bucharest

The European Investment Bank (EIB) announced on Monday that is has agreed to lend 21.1 million euro to support the thermal insulation of 400 residential buildings in Sector 2 of Bucharest, a release of the international financial institution informed.

Draft budget sees 2020 growth at 2.8 pct, unemployment down to 15.6 pct

The Finance Ministry's 2020 draft budget, which will be tabled in Parliament on Monday, foresees the Greek economy growing by 2 percent this year and 2.8 percent in 2020, the Hellenic Fiscal Council has said in a report endorsing the Finance Ministry's projections.

BNR governor Isarescu: Romania seriously affected by asymmetric shocks if it switched to euro now

If Romania were to switch to the euro now, it would be seriously affected by asymmetric shocks, and this is why it chose the middle path in its efforts to adopt the European single currency, considering that a real convergence of 70 - 75 percent - compared to the current 61 percent - is critical for this step, governor of the National Bank of Romania (BNR) Mugur Isarescu on Friday told the Buch

Greek gov't prepares proposals to plug fiscal gap

The government is preparing a convincing package of measures to lead to the reduction of next year's fiscal gap, estimated at 0.5 percent of gross domestic product. As one eurozone official said, Greece will have to complete and forward its draft budget, complete with the bridging of that gap, by October 15.

EIB vicepresident announces tripling of support for Romanian economy up to 1.38 billion euro

Vicepresident of the European Investment Bank (EIB), Andrew McDowell, stated on Thursday, in Bucharest, that the European Investment Bank Group is tripling its support for Romanian companies, from 500 million euro up to 1.38 billion euro.

European Commission reimburses 104 million euros to Romania under Technical Assistance Operational Programme

The European Commission reimbursed 104 million euros to Romania out of the total 121 million euros that were supposed to be reimbursed under the Technical Assistance Operational Programme (TAOP) 2014-2020, according to data released by the Ministry of European Funds (MFE).