Economy

The euro sank to an 11-year low on Jan. 26 and Asian equities were muted after an anti-austerity party won Greece's election, throwing its international bailout into doubt and raising fears it could leave the eurozone.
 

I always dismissed arguments that the eurozone?s time as an economic power was up, pointing out the strengths of the common currency area. But I finally realized that I have been wrong all along.

Nearly a quarter of around 3 million unemployed people in Turkey are university graduates, according to official figures that reveal severity of situation Economic growth, which is estimated to have dropped to 2.5 percent in 2014, has also made unemployment climb.

BELGRADE - The budget deficit amounted to 6.6 percent of GDP in 2014 and was significantly lower than planned, which is also due to fiscal consolidation measures, Serbian Prime Minister Aleksandar Vucic said on Sunday.

Referring to the latest electricity supply crisis between grid firm DEDA? and some of Turkey?s southeastern municipalities due to unpaid debts, Energy Minister Taner Y?ld?z said Turkey?s southeastern province of Diyarbak?r?s Metropolitan Municipality could not just say they will not pay their debts.

The airline company of Babak Zanjani, an Iranian businessman who is accused of being involved with corruption with former Iranian government officials, has been confiscated by the government, an Iranian official has said.

Turkish Deputy Prime Minister Ali Babacan said Turkey would reduce its inflation rate to 5-6 percent due to the decline in oil prices in 2015.

Bulgaria's Finance Ministry reversed its decision regarding the social insurance contributions of newly insured persons.

BELGRADE - There will be no Swiss franc rate fix because such a solution would jeopardize the equal treatment of other clients in Serbia and endanger the basic postulates of the banking sector, Goran Pitic, head of the Managing Board of the Association of Serbian Banks, said on Friday.

According to a survey conducted among representatives of Bulgaria's CEIB, businesses will be more likely to resort to reducing their workforces instead of paying higher social insurance contributions to employees.