European Union

By Angeliki Koutantou

Timos Tzannes, owner of high-end watch and accessories stores in Greece, had last year penciled in a 25 percent rise in sales for the upcoming fiscal year. He had planned to distribute bonuses to staff for the first time since 2008.

By Sotiris Nikas

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.

Although Bulgarian exporters are seriously injured by the sanctions on Russia, the country will not back away from its current stance and will seek new markets, according to Economy Minister Bozhidar Lukarski.

Bulgaria's Economy Minister met Monday with Ukraine's Ambassador to Bulgaria Mykola Baltazhy.

The need for enhanced protection of the EU's external borders increases Bulgaria's chances of joining the Schengen Agreement, according to Foreign Minister Daniel Mitov.

Speaking after a summit of EU foreign ministers in Brussels, Mitov made clear that Bulgaria would most probably seek EU aid to cope with the influx of refugees and migrants.

By Lucy Meakin

The yield premium investors demand to hold Italian bonds instead of German bunds rose from the least since May 2010 as investors considered the scale and form of anticipated European Central Bank sovereign-debt purchases.

Bulgaria runs the risk of having just EUR 22 M under Operational Program Environment locked for 2014, compared to EUR 205 M in the previous year, the country's Environment Minister has said.

Ivelina Vasileva told reporters on Monday Sofia was putting in effort to speed up absorption procedures and to avoid all corrections.

By Simon Kennedy & Stefan Riecher

The euro-area economy is back in the cross-hairs of investors.

The foreign ministers of the 28 European Union (EU) member states are meeting in Brussels on Monday to discuss the increasing terrorist threat Europe is faced with.

The meeting comes after anti-terrorist raids were carried out in Belgium, Germany and France last week during which twenty people were arrested, the BBC reports.

Eight of the twenty-three analysts surveyed by business channel CNBC-e expect the Central Bank of Turkey (CBT) to cut its policy rate of 8.25 percent at the monetary policy committee?s rate-setting meeting on Jan. 20.