Economy of the European Union

LONDON - Serbian PM Ana Brnabic said on Tuesday the EBRD Board of Directors was due to approve an 80 mln euro loan to Serbia on Wednesday.

In the first major financial crisis of the 21st century which erupted in 2007-2008, and whose tsunami reached Europe's shores in 2010, five European countries failed to avoid bailouts: Greece, Ireland, Portugal, Cyprus and, in part, Spain. Of these, only one, Greece, had twin deficits - in its current account and its budget.

Mali further explained the measures presented last night for TV Prva.
"It is about a set of measures that are primarily aimed at raising the standard of living of the citizens of Serbia. And in conditions that I would say are the conditions of the biggest, most difficult economic crisis, global economic crisis ever," he said.

The Eurozone economy was in a technical recession in the first three months of 2023, according to data published earlier today by the European statistical office Eurostat, BTA reported.

The spread between interest rates on loans and deposits is decreasing significantly, mainly after the recent increases in interest rates on new term deposits by Greek banks, according to the Hellenic Bank Association (HBA).

Greece's strong performance compared to the eurozone and the upward trajectory of the country's ratings by rating agencies on the way to achieving investment grade, are the biggest catalysts for the Greek economy, as well as for the course of Greek bonds and banks.

Over 470,000 are the legitimate signatures for holding a referendum on whether Bulgaria should adopt the single European currency in 2025. This was shown by the check of over 600,000 signatures submitted by the "Vazrazhdane" (Revival) party, made by Main Directorate "Civil Registration and Administrative Service".

The candidate for Prime Minister Nikolay Denkov presented the structure and composition of his government to the Bulgarian deputies. In the beginning, he warned that the unusual formula of a cabinet with rotating prime ministers was selected because of the difficult situation in the country in an attempt to avoid another election. Among the priorities of his government, he indicated:

The Budget Committee of the Parliament adopted a decision to extend the current Law on the State Budget. The decision is to be voted on in the plenary hall. It is expected that there will be a second reading of the project so that the deputies can submit their proposals.

The common inflation in the Eurozone on an annual basis slowed sharply in May to 6.1% from 7% in April, preliminary data from Europe's official statistics agency Eurostat showed.