Multi-speed Europe

The European Commission foresees a modest growth of 0.8 % for the Bulgarian economy in 2015 and a further 1 % growth in 2016.

This became evident from the Commission's Winter Economic Forecast, which was released on Thursday.

According to it, Bulgaria registered an economic growth of 1.4 % in 2014, which is an increase of 0.2 % compared to an earlier estimate.

By Jan Strupczewski & Paul Taylor

Greece can choose how to make its public finances healthy and its economy grow, but it must extend its bailout program by a few months to gain time to negotiate those steps, European Commission Vice President Valdis Dombrovskis said.

We advised Greece to cooperate with the Eurozone and the International Monetary Fund

“We advised Greece to do so and we are optimistic that through talks  a collaboration will be finally achieved ” said White House official.

Bulgaria's government has approved a bill on the creation of a Fiscal Council.

The bill, titled Fiscal Council an Corrective Mechanisms Act, describes the new entity as an independent consultative body on issues of fiscal governance, according to reports of dnevnik.bg.

Finance Minister Vladislav Goranov said that although Bulgaria wants to accede to the Eurozone immediately, it realises that it is not fully prepared to introduce the common European currency yet.

Goranov added in an interview for Darik radio on Saturday that this will happen when the other members of the Eurozone agree on Bulgaria to do so.

Latvia's Ambassador to Romania Ilgvars Klava on Wednesday said that there is a 'realistic possibility' for a decision to be reached during the Latvian Presidency of the Council of the European Union concerning Romania's accession to the Schengen area.

Photo credit: (c) Simion MECHNO / AGERPRES PHOTO

Former Prime Minister Costas Simitis has called on Greece?s political parties to find a way to cooperate after the elections, warning that the country would be absent from the debate that will shape the European Union otherwise.

By Eleni Varvitsioti

Finnish Prime Minister Alex Stubb is one of the 19 leaders in the eurozone that will be asked to sign a new agreement with Greece after the elections.

 Head of the Institute for Economic Research argues eurozone should allow Greece orderly temporary departure

By Xenia Kounalaki

The World Bank has substantially lowered its 2015 economic growth forecast for Bulgaria.

According to World Bank Group's Global Economic Prospects (GEP) report, released Wednesday, Bulgaria's economy will expand by 1.1% in 2015, down from the 2.4% GDP growth predicted in June.