Eurozone
Bulgaria Anticipates Meeting Eurozone Inflation Criteria by September
Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September, according to Finance Minister Asen Vassilev. Speaking at a conference focused on the currency union, Vassilev expressed confidence in Bulgaria's ability to fulfill the necessary criteria within the specified timeframe.
Less growth, numerous risks
The Bank of Greece has lowered its forecast for this year's growth to 2.3% from 2.5% and is fully aligned with the latest estimates of the European Commission, against the budget's estimate for 2.9%.
The BoG's downgrade, the second since December, followed data on last year's growth, which, while outpacing the eurozone average, came in at a slower pace of 2%.
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Bulgaria Can Adopt the Euro in 2025, Confirms Eurogroup President
Eurogroup President Paschal Donohoe confirmed that Bulgaria could adopt the euro in 2025. This statement came following discussions with Bulgarian officials, including outgoing Prime Minister Nikolay Denkov, outgoing Deputy Prime Minister Mariya Gabriel, and outgoing Finance Minister Assen Vassilev.
Stournaras: ECB must cut rates twice before August
The European Central Bank must lower borrowing costs twice before its August summer break and two more times before the end of the year, without being swayed by the US Federal Reserve, Bank of Greece chief Yannis Stournaras has said.
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Stournaras to Bloomberg: European Central Bank must cut interest rates twice before the summer holidays
ECB should not be influenced by Fed's moves, BoG governor says during London interview - "Real wages will only reach pre-pandemic levels in 2025" - What he said about the possibility of interest rates returning below 2 percent
Warning on local credit sector’s greed
The interest rate hikes by the European Central Bank and the increase in net interest income lead to an excessive accumulation of profits in Greek and European banks and fuel the inflation of banking greed ("bankflation"), warns the Center for Planning and Economic Research (KEPE).
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Cyprus happy with EU’s fiscal plan
The joint statement on the orientation of the eurozone's fiscal policy for 2025 satisfies Cyprus as it validates the cautious and conservative fiscal policy that Cyprus has followed so far, Minister of Finance Makis Keravnos said on Monday in Brussels, where he was attending the meeting of the Eurogroup.
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Kristalina Georgieva Optimistic about Bulgaria's Entry into Eurozone in 2025
Speaking at a briefing in Sofia, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), expressed optimism about Bulgaria's potential entry into the Eurozone by 2025.
Cyprus a familiar economic space for Greece
In an interview conducted by Kathimerini Cyprus' Panayiotis Rougalas, Bank of Greece Governor Yannis Stournaras shed light on various aspects of the Cypriot monetary policy and economic landscape.
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Hatzidakis attends EU ministerial sessions
National Economy and Finance Minister Kostis Hatzidakis is in Brussels for European Union ministerial meetings. On the sidelines of the sessions, Hatzidakis is to meet European officials. Hatzidakis attended a Eurogroup meeting in Brussels on Monday, and on Tuesday he will take part in the ECOFIN Council.
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