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Newly appointed Greek Finance Minister Evangelos Venizelos addresses the audience during a handover ceremony in Athens June 17, 2011. EPA/BGNES
Finance ministers from the European Union meeting in Luxembourg decided overnight to postpone their decision on the last tranche of the EUR 110 B loan to Greece.
Greece first must implement far-reaching austerity measures including privatization and social benefits cutbacks amounting to EUR 28 M, before receiving the last instalment of EUR 12 B
This was decided at an emergency meeting of EU ministers of finance called Sunday, which lasted into the wee hours Monday.
A large part of Greek citizens have expressed their firm opposition to the measures in huge protests across the country last week, including Sunday.
Speaking at the start of three days of debate, Greek PM George Papandreou said the country was "at a crucial point" and risked a catastrophic default if it did not receive the loan.
Overnight ministers said they expect the instalment to be paid by mid-July, but only conditional on the implementation of the new austerity measures.
EU finance ministers also agreed to frame a second loan to keep the crisis hit country going for the next few years.
The European Union has agreed on a major overhaul of its steel import regime, effectively doubling tariffs in an effort to protect domestic producers from what officials describe as a growing wave of low-cost foreign, particularly Chinese, exports
Hungary’s incoming prime minister Péter Magyar has signaled that his government will not obstruct the European Union’s €90 billion loan for Ukraine, while making clear that Budapest itself will not participate in the mechanism
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
The caretaker government has approved a decision endorsing the Partnership Agreement between the European Union and its Member States and the Mercosur bloc
US Vice President JD Vance launched a sharp attack on the European Union during a visit to Budapest, accusing Brussels of interfering in Hungary’s election just days before a closely contested vote that could reshape the country’s political landscape
The Bulgarian National Bank (BNB) has decided to increase the countercyclical capital buffer to 2.25%, in a move aimed at easing pressure on the rapidly growing housing credit market and strengthening the resilience of the banking system.
The Ministry of Finance has released a broad public dataset covering more than 7,000 public procurement contracts with a combined value exceeding 30 billion euros
Caretaker Finance Minister Georgi Klisurski said he expects fuel prices at gas stations to ease in the coming period, pointing to a sharp decline in international oil markets
Bulgaria’s new government borrowing for 2026 has surpassed the 1 billion euro mark following the latest successful auction of state securities, according to data cited from the Bulgarian National Bank
Bulgaria recorded only a modest and one-off increase in inflation following the adoption of the euro on January 1, with the effect estimated at between 0.3 and 0.4 percentage points
Data released by the Ministry of Finance, covering budget execution for February 2026 and preliminary estimates for March 2026, indicate a marked deterioration in Bulgaria’s fiscal position
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