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International Information Centre for Balkan Studies



Ionian-Adriatic Pipeline

Tirana will host on 09.09.2017 the fourth meeting of the Management Unit for the Ionian-Adriatic Pipeline (IAP) project.

Present in this meeting will not only be personalities from domestic energy institutions, but also representatives of international institutions and experts of this domain.

Read more: Ionian-Adriatic Pipeline

Greece sells 1.3 bln euros of 13-week T-bills, yield drops to 1.91 pct

Greece sold 1.3 billion euros ($1.55 billion) of three-month T-bills on Wednesday to refinance maturing issues, the country’s debt agency PDMA said.

Read more: Greece sells 1.3 bln euros of 13-week T-bills, yield drops to 1.91 pct

Bulgaria January-July 2017 Budget surplus at 1.97B leva

Bulgaria’s Finance Ministry said that the consolidated Budget surplus for the first seven months of 2017 was 1.97 billion leva, or two per cent of this year’s estimated gross domestic product, narrowly exceeding the ministry’s 1.96 billion leva forecast issued last month.

Read more: Bulgaria January-July 2017 Budget surplus at 1.97B leva

Fitch upgrades Greece as political risk eases

Fitch Ratings upgraded Greece’s long-term foreign-currency issuer default ratings to B- from CCC, citing reduced political risk and sustained GDP growth. Fitch said on 18.08.2017 it expected the general government debt to steadily improve, cushioned by benefits from the European Stability Mechanism (ESM) program.

Read more: Fitch upgrades Greece as political risk eases

Greece aims for 6 bln euros in privatizations revenues in 2017-18

Greece aims to raise 6 billion euros in privatization revenues through 2018, the head of its privatizations agency said on 06.07.2017.

Read more: Greece aims for 6 bln euros in privatizations revenues in 2017-18

Greece's 10-year borrowing costs drop to lowest since 2009 after upgrade

Greece's 10-year borrowing costs dropped to their lowest level since 2009 after Moody's updated the country's credit rating on 23.06.2017.

Read more: Greece's 10-year borrowing costs drop to lowest since 2009 after upgrade

Fitch Ratings revises Bulgaria’s outlook from stable to positive

Fitch Ratings has revised Bulgaria’s outlook to positive from stable while affirming the sovereign’s long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘BBB-‘.

Read more: Fitch Ratings revises Bulgaria’s outlook from stable to positive

‘Chinese Balkan corridor’ pits EU north against south

The Western Balkans have become China’s preferred access point to the EU, and a corridor to Europe’s north from the Greek port of Piraeus is being financed by Beijing. But Brussels fears EU rules will not be respected, while in northern countries, big ports resent the competition.

Read more: ‘Chinese Balkan corridor’ pits EU north against south

Turkish Stream’s construction vessel on way to Black Sea

The Pioneering Spirit vessel, which will carry out the construction of the Turkish Stream natural gas pipeline’s offshore section, arrived at the Çanakkale Strait early on May 30 2017, according to the vessel’s Swiss owner, Allseas.

Read more: Turkish Stream’s construction vessel on way to Black Sea

Moody’s maintains Bulgaria’s rating at Baa2, outlook stable

Moody’s credit ratings agency has confirmed Bulgaria’s credit rating at Baa2 with a stable outlook, citing Bulgaria’s resilient economy and the government’s strong balance sheet among the factors for its decision.

Read more: Moody’s maintains Bulgaria’s rating at Baa2, outlook stable

Projects interconnecting energy and geopolitics need to have a market

A host of energy projects, such as TAP, IGB, Turkish Stream and others are under way or in the preparation phase in the Balkans and Black Sea region, and Greece must make the most of them to upgrade its status to energy hub, notes Dr Theodoros Tsakiris, assistant professor of energy policy and geopolitics at the University of Nicosia in Cyprus.

Read more: Projects interconnecting energy and geopolitics need to have a market

Brexit will cost Greece up to 0.8% of GDP, minister says

The British exit from the European Union will have consequences for the Greek economy, especially on tourism, Deputy Minister of Foreign Affairs George Katrougalos said on Monday (8 May 2017).

Referring to data from the Bank of Greece, Katrougalos warned that the effects would range from 0.4% to 0.8% of Greek GDP (€800 million to €1.6 billion).

Speaking at the Greek Parliament’s European Affairs Committee about the Brexit process, the leftist politician said the biggest losses were expected in the tourism sector. Approximately 2.4 million British tourists visited Greece in 2015, spending about €2 billion while on holiday.

When Brexit is completed in 2019, the fall in foreign exchange earnings is estimated to range between 2.29% to 6.3% of the total volume of revenues coming from British tourists, he said.

Sarantis Michalopoulos 

Source: http://www.euractiv.com/section/uk-europe/news/brexit-will-cost-greece-up-to-0-8-of-gdp-minister-says/

 

Read more: Brexit will cost Greece up to 0.8% of GDP, minister says

Putin ‘orders Gazprom to start laying pipes along Turkish Stream’s sea route’

Gazprom will be ready to start laying pipes on the Turkish Stream offshore section in several days, the company’s CEO Alexei Miller told Russian President Vladimir Putin on May 4 (2017), as Russia’s TASS reported. 

Read more: Putin ‘orders Gazprom to start laying pipes along Turkish Stream’s sea route’

IMF says EU still needs ‘credible’ debt relief for Greece

Despite an agreement reached Tuesday (2 May 2017) on a reform package, Europe still needs to provide “credible” debt relief to Greece before the International Monetary Fund can provide more financing, an IMF official said.

Read more: IMF says EU still needs ‘credible’ debt relief for Greece

Greece, lenders reach deal on bailout reforms - finance minister

Greece and its foreign creditors reached a deal early on May 2 2017 on a package of bailout-mandated reforms, Greek Finance Minister Euclid Tsakalotos said, paving the way for the disbursement of further rescue funds.

Read more: Greece, lenders reach deal on bailout reforms - finance minister

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