Finance

BELGRADE - Debt levels of European countries and the United States have almost reached critical levels, former Russian Finance Minister Alexei Kudrin said Friday.

The Bank of Greece has removed the executive powers of International Life's governing board, conceding the insurance company's full control to insurance administrator Ioannis Peristeris.

Turkey's Saving Deposits Insurance Fund (TMSF) has probed more than 1.6 million bank accounts so far over demands from a number public institutions wanting to learn whether any of their employees had an account with Bank Asya, seized by the state over its links with the Gülen movement, which was believed to be the mastermind behind the failed July 15 coup attempt. 

Ankara has announced a number of new measures on credit cards and loans in an attempt to ease the strain on consumers and stimulate economic activity. 

Prime Minister Binali Yıldırım said late on Sept. 21 that credit card payment installment limits had been increased from nine to 12, while restrictions on food, telecommunications and fuel purchases would continue. 

The 11th Annual Greek Roadshow, organized by the Athens Stock Exchange, is taking place in London with 27 of the largest Greek companies attending the three-day event. Participants get to meet with representatives of foreign funds at the facilities of the Bloomberg agency.

Despite the pensioner’s patience, IKA’s deficit is doubled by the reduction of Government Funding. The administration of the Social Security Foundation (IKA) revealed that the deficit will be 2.1 Billion Euros for 2016, from 950 millions  last year.

The administration of the Social Security Foundation (IKA) is on Thursday expected to seek approval for additional funding from the Social Security Capital for the Solidarity of Generations (AKAGE) reserves to cover part of its constantly growing deficit.

The dramatic drop in state spending and the positive course of revenues kept the primary budget surplus above its target in August, according to data published on Tuesday by the Finance Ministry.

Fund managers in London have dubbed Athens's chances of hitting the markets in the foreseeable future "a midsummer night's dream," even if that were to be with some small "pilot" bond issues, as government sources have leaked in recent days.

The new method of recalculating more than 1 million auxiliary pensions has brought with it errors that are costing pensioners dearly.