Deutsche Bank

The appointment of John Cryan as chief executive of Deutsche Bank sent shares in Germany's largest lender up 8 percent on June 8 as investors judged the Briton a more credible contender than his two ousted predecessors to revive its fortunes. 

By Vangelis Mandravelis

OTE telecom is planning to hire a few hundred employees, though the exact number will depend on the take-up rate of two voluntary exit programs is has announced and the specialization of the workers who sign up for the deal.

Deutsche Bank, Germany's biggest lender, unveiled April 27 details of a massive strategic shake-up as part of which it plans to bring down annual costs by 3.5 billion euros ($3.8 billion) by 2020.

McKinsey Global Institute this week reported that global debt continues to grow. Moroever, the group says that “all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points.”

Deutsche Bank has circulated a chart describing the five necessary steps in order for Greece to avoid an exit from the Eurozone, the financial markets' "bogeyman" known as "Grexit".

-The first step is a short-term bailout extension, or "loan agreement" extension, as Athens prefers to call it.

German banks have around 23.5 billion euros ($28 billion) in credit exposure to Greece, but the systemic risk is limited as the biggest commercial banks, Deutsche Bank and Commerzbank, hold only a tiny fraction of that, according to figures gathered by Reuters.

Podgorica on Thursday announcd that it would take over the debts of the Public Broadcasting Service of Montenegro, RTCG, which are worth 2.4 million euros.

The contract will soon be signed by the Minister of Finance, Radoje Zugic and the CEO of RTCG, Rade Vojvodic.

At an emergency press conference on Friday, Independent Greeks leader Panos Kammenos backed allegations by his MP Pavlos Haikalis according to which a middleman tried to bribe the latter to vote for the coalition's candidate for president.

Shareholders of bailed-out Cyprus’s biggest bank have elected former Deutsche Bank chief Josef Ackermann as the new chairman.

The vote on Thursday came after the Bank of Cyprus passed a European in-depth review of its finances last month.

The bank had earlier bolstered its capital base by raising 1 billion euros.

The new President of the European Commission Jean-Claude Juncker will face a vote of no confidence tabled by right-wing and far-right Eurosceptic parties.