Emergency Economic Stabilization Act

There is still time for Greece to end a debt standoff with its European partners, though no Plan B is in the offing, Austria's finance minister said, adding that Athens must honor the terms of its bailout package.

A showdown in Brussels looms this week as Greece's new leftist government tries to cancel a deeply unpopular bailout program with international creditors.

The Cypriot supreme court ruled as unconstitutional Friday four bills on bank foreclosures whose passage by parliament prompted international lenders to halt payments on the country’s 10-billion-euro ($12.7-billion) bailout.

The decision should open the way for Nicosia to receive the next tranche of 436 million euros, which was blocked last month.

Greece might secure a further safety net of credit from its eurozone partners if it manages to meet the strict terms required to exit its bailout at the end of this year, a source close to discussions told Reuters yesterday.

Greece will report a primary budget surplus of 2 percent of national output this year, beating the 1.5 percent of GDP target set in its EU/IMF bailout, the government's draft 2015 budget projected on Monday.

Athens also predicted its economy would exit a six-year recession and grow 0.6 percent this year, in line with previous forecasts.

Experts of the so-called "Troika" of international lenders are set to visit Greece for what could turn into the country's early exit from the bailout program.

The officials are also to discuss the 2015 Greek budget with Finance Minister Gikas Hardouvelis.

Bulgaria’s former Prime Minister Ivan Kostov on Thursday said there are two options to rescue the troubled Corporate Commercial Bank (KTB).

Parliament’s State Budget Office has ruffled some feathers again after claiming that is appears likely Greece will require a third bailout package to avoid a default.

In its quarterly report, published on Monday, it also warned that the matter of the country’s banks has not been resolved yet despite the capital injections.

A delegation from the troika of international lenders Tuesday began its fifth assessment of Cyprus's economy and troubled banking system, focusing on the threat of bad loans.

Some 45 percent of all loans at Cypriot banks are classified as non-performing -- 27.1 billion euros from total lending of 60 billion euros, according to Cyprus Central Bank figures.

Germany's finance minister said Wednesday he did not expect Athens to stray from its economic plan to tackle the country's huge debts despite a change of finance minister.

Wolfgang Schaeuble told reporters in Berlin that he didn't yet know Yannis Stournaras' successor but he did not foresee changes in policy after this week's Greek cabinet reshuffle.

Greece will likely require a third bailout package, Eurogroup chief Jeroen Dijsselbloem reiterated on Wednesday in an interview on Dutch TV.

Echoing his German counterpart Wolfgang Schaeuble, the Dutch finance minister said that the amount Greece will require and on what level the new assistance will be organized will be discussed during the summer.