Euro

KOPAONIK - Tanja Miscevic, Serbia's chief negotiator with the EU, stated on Wednesday that the next government should adopt as soon as possible the legislation on labor, bankruptcy and privatization that has been prepared, as well as a great number of bylaws.

EU nudges western Balkans toward economic reform

Improving the financial climate will attract investment, the Union said. In other business news: Bulgaria and Macedonia seek more funding for Corridor 8.

The EU believes that financial reforms will mean a better business climate and greater economic prosperity in the western Balkans. [AFP]

The troika faced an “immense challenge” in dealing with the euro crisis but the adjustment programs it helped implement in Greece and other countries lacked transparency and were not fully adapted to those states, according to a European Parliament committee, which recommended on Tuesday the International Monetary Fund’s involvement in future bailouts be “optional.”

Economic growth across Europe is expected to be slightly stronger this year as the recovery gains ground, according to the European Commission's new forecast released Tuesday.

The number of bank card frauds in Europe has started rising again in 2012.

A survey of the European Central Bank (ECB) shows that the frauds had started increasing for the first time since 2008, mostly due to the increase in online payments.

The euro-area economy will continue to lag behind its main competitors, the U.S. and China, this year and next as high levels of unemployment and debt hinder the currency bloc’s recovery.

By James Saft

Never a hot-bed of monetary policy activism, the European Central Bank may soon find itself forced into an uncomfortable period of experimentation.

 Banks’ requirements will not exceed 6 bln euros; methodology will be available for scrutiny, sources say

By Yiannis Papadoyiannis

Greek government bonds rose on Monday as the country’s partners were said to be working on the next review of its bailout, while Portugal’s two-year yields dropped to the lowest in more than a month as the nation said it would buy back debt.

While the city of Skopje planned to set aside 51 million euro for the important bypass, the lowest bidder, a Bulgarian-Macedonian consortium composed of Pons Troy Engineering, Gp Group and Urban Plan, has sought 66.9 million euro.

Another group of Bulgarian firms has offered to do the work for 69.8 million euro while a Bulgarian-Portuguese consortium sought 67.3 million euro.