Financial crises

Turkey's March inflation jumps more than expected on higher food costs

Consumer prices in Turkey increased 1.2 percent in March over the previous month, data showed on April 3, as rising food costs pushed inflation well above market expectations.

?The main reason behind the rise in the headline inflation is food prices,? Gizem Öztok Alt?nsaç, chief economist at Garanti Securities, was quoted as saying by Reuters.

Varoufakis returns to Memorandum surplus of 3.1% (from 1.5%)?

The Greek government estimates that the influx of income it will reach according to the list of measures it presented to the Institutions, will amount to six billion euros.

 

In a worst case scenario, Athens commits to achieving a primary surplus of 3.1% of GDP while the best case scenario estimates a surplus of 3.9% of GDP.

 

Greek bailout deal possible by end April, Tusk says

A deal on Greeces bailout is possible before the end of April, EU Council President Donald Tusk said Tuesday as Athens continued tough talks with its creditors on a disputed list of reforms.

Tusk said the negotiations were "complex," and while nothing was expected before Easter, a late April deadline agreed between Greece and its EU-IMF creditors was still within reach.

Fitch downgrades Greece to “CCC” from “B”

Fitch Ratings has downgraded Greece’s long-term foreign and local currency Issuer Default Ratings to “CCC” from “B,” according to announcement released by the organization on Friday.

The downgrade came out earlier than the next scheduled review, a fact which indicates a sense of urgency.

Read below the announcement of the agency

Berlin says has no exact information about Greek reforms

The German government has no details about the list of reforms that Greece is due to present by Monday in the hope of avoiding bankruptcy, a spokeswoman for the German finance ministry said.

"We have had no concrete information presented to us," Marianne Kothe said at a news conference in Berlin on Friday.

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