ECB Forecasts Significant Slowdown in Eurozone Wage Growth for 2025
According to data from the European Central Bank (ECB), wage growth in the eurozone is anticipated to decelerate substantially this year
Eurozone leaders reached a deal with private banks and insurers for them to accept a 50% loss on their Greek government bond as a part of the efforts to relieve the country's debt burden and contain the euro zone crisis.
The measure aims at cutting Greece's debt burden by EUR 100 B, reducing its debts from the current 160% of GDP to 120% of GDP by 2020.
The decision was announced early on Thursday after marathon talks involving bankers, heads of state, central bankers and the International Monetary Fund.
The the eurozone will also offer credit enhancements worth EUR 30 B to the private sector, aiming to complete negotiations on the package by the end of 2011.
The value of the new Greek package would be EUR 130 B - up from EUR 109 B when a deal was last struck in July, EU sources have revealed, as cited by international media.
"The summit allowed us to adopt the components of a global response, of an ambitious response, of a credible response to the crisis that is sweeping across the eurozone," French President Nicolas Sarkozy declared before reporters afterwards.
Greek Prime Minister George Papandreou praised the deal, saying: "We can claim that a new day has come for Greece, and not only for Greece but also for Europe."
Cryptocurrency has become a significant part of the financial world, but as it grows, so do the questions about Know Your Customer (KYC) requirements.
Macroeconomist Stoyan Panchev, an analyst from the Expert Club for Economics and Politics, warned that Bulgaria could face significant challenges if it rushes into joining the eurozone
Bulgarian Posts will carry out the exchange of levs into euros in 2,230 post office locations across the country
Bulgaria has fulfilled the final requirement for joining the eurozone by meeting the budget deficit criterion
On June 4, Bulgaria will find out whether the euro will officially replace the lev in January 2026
In the first quarter of 2025, the 20-BGN banknote has overtaken the 100-BGN note as the most frequently counterfeited denomination in Bulgaria,
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase