Bankruptcy

Let's assume that the negotiations with Greece's creditors will come to a close late one night in May with an agreement on debt restructuring and the country's inclusion in the European Central Bank's quantitative easing program. This would likely spark an investment rally and restore the markets' faith in us, possibly to a sufficient degree so they would start lending to us once more.

A draft law that will pass a new wave of tax and premium debt restructuring was submitted to the Turkish Parliament on April 19. 

"The Draft Law on Restructuring Some Receivables" will stipulate the debt restructuring until the date of May 31, Reuters reported. 

The draft is composed of six articles in total. 

An Economy Ministry bill presented on Monday would see the restoration of a 120-installment debt payment scheme two years after a previous one from 2015. It would also offer the option of a partial write-off of a debt to the state not only to enterprises that enter the extrajudicial mechanism but also freelancers who were supposed to be excluded from this process.

The Croatian government on Monday named Ante Ramljak, an experienced manager from both the private and public sector, as the extraordinary manager of the troubled private company Agrokor.

The Public Power Corporation (PPC) is teetering on the brink of bankruptcy. There are many factors at play that can explain this sorry state of affairs. But two stand out in particular: cheap populism and the uglier side of trade unionism.

Austria's Erste Bank on Friday announced that Croatia's biggest private company Agrokor - currently embroiled in a deep financial crisis - and its creditors had reached a deal on a "standstill agreement" whereby the company will remain financially liquid while its debts are placed on "standby".

The government is preparing to discuss a proposed Law on Procedures for Extraordinary Management, which many see as way for the state to step in and help the troubled private giant Agrokor deal with its serious financial crisis.

If Greece is to exit its financial crisis, it will require a restructuring of the national debt combined with substantial reforms, according to the Parliamentary Budget Office, which warned on Wednesday in its intermediate report on the Greek debt that restructuring alone is not the right recipe.

Any enterprises that had expired debts to the banks or the state at the end of 2016 will be able to enter the government's extrajudicial mechanism for the settlement of arrears and get one last chance to stay in business.

National Bank of Greece has completed 80 percent of its restructuring plan, with five actions left to complete before the end of 2018.

The most important of these is the sale of its insurance subsidiary.