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International Information Centre for Balkan Studies



Greece: All four banks to stay private after Piraeus wraps up book-building

 

 

 

All four of the country’s systemic banks have now successfully ended the process of their share capital increases after Piraeus Bank closed its book on Friday (20.11.2015). As a result they will remain in private hands, away from the grip of the Hellenic Financial Stability Fund (HFSF)*.

Read more: Greece: All four banks to stay private after Piraeus wraps up book-building

Airbus Helicopters launches new Romanian factory for H215

 

 

 

The Airbus Helicopters H215 C1e is to be built in Brasov at a new Airbus Helicopters facility.

Read more: Airbus Helicopters launches new Romanian factory for H215

Greek government takes losses in home foreclosures vote

 

 

 

Greece's leftist government narrowly pushed a bailout reform vote through parliament Thursday (18.11.2015), but saw its majority dwindle after axing two lawmakers who refused to support a home foreclosures bill.

Read more: Greek government takes losses in home foreclosures vote

Romania’s new Government accepts 10% increase in public sector salaries

 

 

 

Romania’s new Government will apply the laws adopted by the Parliament on salaries and pensions, but will analyze again the social security draft budget for the next year.

Read more: Romania’s new Government accepts 10% increase in public sector salaries

Greek austerity saga set to continue

 

 

 

It looks as if the recessionary effects of fiscal austerity in 2015-16 could be contained if tourism continues to be buoyant, the absorption of EU structural funds picks up, sell-offs speed up and banks are recapitalized.

Read more: Greek austerity saga set to continue

Athens secures strategic bank recapitalization deal with creditors

 

 

 

Greece has secured the disbursement of its first and most strategically crucial €2 bn plus €10 bn disbursement tranche  of the bailout program secured this summer. That is €10 bn to recapitalize its banking system and €2 bn to service its debt.

Read more: Athens secures strategic bank recapitalization deal with creditors

Despite ongoing war, is trade between Turkey, Syria rebounding?

 

 

 

It is mind-boggling how trade in Syria continues despite the ongoing civil war with massive human and material losses.

Read more: Despite ongoing war, is trade between Turkey, Syria rebounding?

Macedonia Borrows More Despite Europe's Concern

 

 

 

Macedonia is borrowing more money by issuing bonds, despite concern voiced recently in Brussels about the country's financial direction and priorities.

Read more: Macedonia Borrows More Despite Europe's Concern

Foreign investors control 40% of Romania’s arable land

 

 

 

Foreign investors have come up to control as much as 40% of Romania’s arable land, according to a recent study made by the Transnational Institute for the European Parliament.

Read more: Foreign investors control 40% of Romania’s arable land

The Bulgarian Duo Leading an Indoor Rock Climbing Revolution

 

 

 

The Bulgarian village of Letnitsa (population 2,547) is a cluster of red-roof-tiled homes in a rural stretch of countryside in the Danube River valley, between the Balkan Mountains and the Romanian border. It’s a two-and-a-half-hour drive east from Sofia along a two-lane highway lined with monotone Soviet-era apartment buildings and sunflower fields. As the poorest and most corrupt member of the European Union, Bulgaria is still struggling to shed its communist past as it transitions to a market economy. A small town here is an unlikely place to manufacture walls for that most First World of sports: indoor rock climbing.

Read more: The Bulgarian Duo Leading an Indoor Rock Climbing Revolution

IMF staff concludes visit to Bulgaria, expects 1.7% growth in 2015

 

 

 

An International Monetary Fund (IMF) mission visited Sofia during November 4–9, 2015, to discuss the economic outlook and related policies with the Bulgarian authorities, an official press release of the institution announced.

Read more: IMF staff concludes visit to Bulgaria, expects 1.7% growth in 2015

Romania’s trade deficit widens as higher food sales spur imports

 

 

 

Romania’s exports grew by only 0.2% in September compared to the same month of last year while the imports went up by 4.9%, which led to a significant widening of the trade balance for the fourth month in a row. This comes to show that the increase in domestic consumption following the VAT rate cut on food and soft drinks has also spurred the imports.

Read more: Romania’s trade deficit widens as higher food sales spur imports

Montenegro Work Permit Limit Worries Foreign Firms

 

 

 

Limits on the employment of foreigners in Montenegro - in force from this week (09.11.2015) - have angered some employers - but the government says it has a duty to protect domestic workers.

Read more: Montenegro Work Permit Limit Worries Foreign Firms

Romanian consumers pay less on food after VAT rate cut

 

 

 

The VAT cut on food starting June 1 has reduced the average value of a consumer basket by 11.9%.

Read more: Romanian consumers pay less on food after VAT rate cut

Greece told to break bailout deadlock by Wednesday

 

 

 

A Euro Working Group held via teleconference on Sunday failed to result in an agreement between Greece and its lenders ahead of Monday’s (09.11.2015) Eurogroup.

Read more: Greece told to break bailout deadlock by Wednesday

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