Euro

Birgit Jennen & Rainer Buergin

Southern euro-region countries need debt relief to revive economic growth and creditors should pay the cost, said Hans-Werner Sinn, head of the German-based Ifo economic institute.

By Sotiris Nikas

The disbursement to Greece of 2.1 billion euros from the profits of the Eurosystem from Greek SMP and ANFA bonds has hit a stumbling block due to timetable changes and different interpretations of existing agreements.

 Having secured 1-bln-euro sub-tranche from eurozone, Finance Ministry will proceed to 3-year debt issue

By Eleni Varvitsiotis and Sotiris Nikas

Bulgarian telecom VIVACOM's assets in BNB-supervised Corporate Commercial Bank (KTB) are likely to amount to EUR 71 M, the Irish Stock Exchange wrote on its website.

It reminded VIVACOM had previously put its balance at KTB, which the Bulgarian National Bank (BNB) placed under conservatorship in June, at EUR 6.5 M.

The Euro Working Group on Friday approved the release of a 1-billion-euro tranche of rescue loans to Greece after deeming that Athens has honored the six so-called "prior actions" required to release the funding.

By Yiannis Papadoyiannis

One after another, 13 foreign credit institutions and investment firms have announced their predictions for a rise in the share prices of Greece’s systemic banks that averages out at 18 percent above the current levels, reflecting their strong expectations for the country and foreign investors’ ever-growing willingness to expose themselves to Greek risk.

 Athens proposes extension and a fixed instead of floating rate

By Sotiris Nikas

The eurozone is responsible for almost three-quarters of the Greek state’s debt, which automatically puts it in control of the country’s obligations and explains the why the Greek government is trying so hard to have the terms of the repayment of loans altered.

In May 2014 compared to April 2014, the seasonally adjusted volume of retail trade remained stable in the euro area and fell by 0.1% in the EU, according to the Eurostat.

In April retail trade decreased by 0.2% in the euro area and rose by 0.2% in the EU the latest date of the statistical office of the European Union shows.

Lukanyo Mnyanda & David Goodman

After the European Central Bank’s June meeting sparked the biggest monthly gain in the region’s government bonds since January, investors are cooling on the debt, betting officials will refrain from more action on Thursday.

By Inyoung Hwang

The options market isn’t convinced European Central Bank President Mario Draghi will succeed in his aim to weaken the euro.