IMF Slashes Eurozone Growth to 1.1% as Energy Crisis Bites
The International Monetary Fund has revised downward its outlook for the euro area, now projecting economic growth of 1.1% this year
Greek Parties Finally Reach Bailout Compromise
- Tweet
Send to Kindle
eaders of the three political parties backing Lucas Papademos` (2-R) interim government -- PASOK leader and former prime minister George Papandreou (R), New Democracy (ND) leader Antonis Samaras (2 L) and Popular Orthodox Rally (LAOS) leader George Karatz
Greek political leaders from the coalition cabinet reached an agreement with EU, ECB and IMF lenders on reforms required for the second bailout, stated PM Lucas Papademos's office Thursday.
"The consultations between the government and the Troika on the issue, which remains opens for additional discussion, ended successfully. Political leaders reached an agreement for the results," reads the announcement.
In an additional statement, European Central Bank President Mario Draghi has confirmed the announcement.
Draghi however did not specify any details about the agreement, in particular information about Greek sovereign bonds held by the ECB.
Private lenders to Greece will be requested to write off some 70% of Greek debt.
Political leaders in Greece had a deadline to reach an agreement until Tuesday, which they failed to do.
Related Articles:
EU Hits Chinese Steel With 50% Tariffs in Major Industry Protection Move
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 Magyar Backs EU Ukraine Loan but Rules Out Participation
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
ECB: Euro Adoption Brought Only Limited, One-Off Price Impact in Bulgaria
The introduction of the euro in Bulgaria has so far produced only a limited and largely one-off effect on consumer prices, according to an analysis by the European Central Bank
EU Panic Deepens Over Hungary-Russia Ties and Possible Secret Leaks
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
European Prosecutors Raid Bulgaria and Romania in €10M EU Funds Fraud Probe
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
Bulgaria’s Central Bank Tightens Rules on Housing Credit
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.
Bulgaria Publishes 7,000 Public Contracts Worth Over €30 Billion in Transparency Push
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
Bulgaria Expects Fuel Price Drop as Oil Falls 20%, Says Finance Minister
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
Borrowing Surge: Bulgaria Raises Over €1 Billion in Early 2026 Debt Issuance
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
Is Another Crisis Coming? Bulgaria’s Central Bank Chief Flags Inflation Spiral Risk
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
Bulgaria Records 1.5 Billion Euro Budget Deficit in March, Highest in 15 Years
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
