Facebook

International Information Centre for Balkan Studies



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

Greek SMEs vie for center stage in Juncker’s investment plan

The Greek government will try to use the Investment Plan for Europe in order to boost cash-strapped small and medium enterprises.  In Greece, so-called “red” loans have exceeded €100 billion, representing 10% of all non-performing loans at EU level (€1.1 trillion).

Read more: Greek SMEs vie for center stage in Juncker’s investment plan

Greece: Big bailout issues 'resolved,' gov't says as lenders keep pressure on

Government sources indicated on 27.04.2017 that the biggest issues in bailout talks with foreign envoys have been resolved with a raft of economic reforms to go to a vote in Parliament in the first half of May 2017.

Read more: Greece: Big bailout issues 'resolved,' gov't says as lenders keep pressure on

Greece calls for debt relief as bailout talks resume in Athens

Greece’s prime minister held out for a commitment from lenders to debt relief on Tuesday (25 April 2017), and said he was confident new talks in Athens over a long-stalled bailout review would reach a deal by a 22 May target.

Read more: Greece calls for debt relief as bailout talks resume in Athens

China, Albania agree to expand cooperation under Belt and Road, 16+1 framework

China and Albania agreed on 17.04.2017 to enhance cooperation in areas of infrastructure, production capacity, tourism and agriculture under the framework of Belt and Road Initiative and the 16+1 mechanism featuring China and Central and Eastern European (CEE) countries cooperation.

Read more: China, Albania agree to expand cooperation under Belt and Road, 16+1 framework

Greek debt must be sustainable for IMF to join bailout, Lagarde says

The International Monetary Fund will not take part in a bailout program for Greece if it deems the country's debt is unsustainable, the international lender's chief Christine Lagarde said in an interview published on 18.04.2017.

Read more: Greek debt must be sustainable for IMF to join bailout, Lagarde says

US government ‘open’ to IMF participation in Greek bailout

Washington will keep an “open mind” regarding the participation of the International Monetary Fund (IMF) in the Greek bailout programme, a senior US Treasury official said on 13 April 2017.

Read more: US government ‘open’ to IMF participation in Greek bailout

Greece, lenders agree on key elements of reforms

Greece and its eurozone creditors agreed on key elements of reforms needed to unlock new loans, with a total of 2 percent of gross domestic product of measures to be implemented in 2019 and 2020, the head of eurozone finance ministers said on 07.04.2017.

Read more: Greece, lenders agree on key elements of reforms

Turkey-EU tension endangers upgrade to customs union

Ongoing tension between Ankara and Brussels could further complicate the launch of technical negotiations to upgrade a customs union agreement to the advantage of both sides, Turkish and European diplomats have admitted, revealing that a Turkey-EU summit at the leaders’ level planned for May or June will not happen until the end of the year. 

Read more: Turkey-EU tension endangers upgrade to customs union

Sensata Technologies opens testing facility in Bulgaria

Sensata Technologies has opened its largest global testing facility in Sofia to support its automotive sensing technologies, the company said.

Read more: Sensata Technologies opens testing facility in Bulgaria

Turkey’s 2016 unemployment rate hit 10.9 percent, continuing at double digits

Turkey’s unemployment rate hit 10.9 percent in 2016 with a 0.6 percent of increase compared to the previous year, continuing its double-digit trend, official data showed on March 23, 2017. 

Read more: Turkey’s 2016 unemployment rate hit 10.9 percent, continuing at double digits

isn eth zurichBSAdsNATOCentral and Eastern European Online LibraryEurActiv | European Union Information Website