Economy

A Greek exit from the eurozone -- or Grexit -- would undermine the model of euro stability, a senior European Bank for Reconstruction and Development (EBRD) official said on Tuesday, but the EBRD does not expect it to happen.

Struggling Greece will never recover without a generous debt cut, despite what the country's creditors might think, the politician likely to become the next finance minister said Tuesday.

NBS "looking for solution" to Swiss franc loans

BELGRADE -- The National Bank of Serbia announced on Monday that it would "strive to find a swift solution to help citizens with loans in Swiss francs," Beta reported.

They are now "in dire straits after the Swiss currency surged suddenly."

Representatives of the Bulgarian government and business gather at their ninth annual meeting on Tuesday to discuss the restoration of the country on the path of economic growth.

This year more than 250 executive directors of the largest firms in Bulgaria as well as foreign investors have confirmed their participation at the conference, electronic daily Dnevnik reports.

By Sotiris Nikas

The International Monetary Fund on Jan. 20 sharply cut its 2015-2016 world growth forecast of only six months ago, saying lower oil prices did not offset pervasive weaknesses around the globe.
      
The IMF said poorer prospects in China, Russia, the euro area and Japan will hold world growth to just 3.5 percent this year and 3.7 percent in 2016.
      

Bulgaria' Tourism Minister Nikolina Angelkova has insisted that the government and environmentalists can reach joint decisions on ski tourism development.

In a Monday interview for the Bulgarian National Television, she underscored that a decision that had been reached through dialogue was certain to be the right one.

Greek banks are better prepared than in 2012 and a possible outflow of deposits will be manageable, according to a Fitch Ratings analysis. However the international firm noted that local lenders will face a greater risk from any prolonged political and economic uncertainty and a delay in reaching an agreement with the country?s creditors.

By Nikos Roussanoglou

A total of 2.987 million containers were handled last year by Piraeus Container Terminal, Chinese company Cosco?s local subsidiary, at the second and third container terminals of Greece?s largest port, according to figures released yesterday at the Hong Kong Stock Exchange, where Cosco Pacific is listed.

Despite falling oil prices, the Turkish economy may grow less than expected in 2015 due to weak external conditions and a slump in income earned from Russian tourists, the EBRD says The European Bank for Reconstruction and Development (EBRD) has cut its 2015 growth estimate for Turkey from 3.2 percent to 3 percent, citing weaknesses in external demand and lower spending by Russian touris