Financial crises

The balance of payments' current account deficit narrowed 62.3 percent over Jan.-Nov. 2014 down to 302 million euros, as compared to 801 million euros in the same period of 2013, amid 920 million euros increased surplus recorded by the balance of services and 143 million euros cut in the balance of goods, reveal figures published by the National Bank of Romania (BNR) on Tuesday.

BELGRADE - The total credit debt of legal entities dropped by two percent compared to 2013, while the debt of citizens increased by around nine percent, the Association of Serbian Banks stated on Monday.

The debt per capita arising from loans and leasing services increased from EUR 834 in 2013 to EUR 861 in 2014.

A budget of 45 million euros has been approved for the general elections on January 25 ? which is 10 percent less than for the May 2012 polls ? following tough negotiations between the Interior Ministry and the Finance Ministry, Kathimerini understands.

Worries over Greece's future in the euro zone kept shares under pressure on Monday, even as fresh multi-year lows for the euro and crude oil gave a boost to travel and consumer-goods stocks.

The pan-European FTSEurofirst 300 index was down 0.1 percent at 0909 GMT, with benchmark indexes in London and Frankfurt also in negative territory. The Paris CAC 40 stayed flat.

Fitch Ratings warned on Tuesday that it may change Greece’s rating due to political developments.

It stated that the early elections have increased the risk of a change, meaning a downgrade, and estimated that the political uncertainty will likely remain high for «a few months."

By Sotiris Nikas

October data compiled by the Bank of Greece confirm that foreign investors are letting go of their Greek bonds, as within just one month the country’s central bank recorded an outflow of 1.7 billion euros from bonds and treasury bills. In mid-October Greek bond yields nearly doubled as a result of investor concerns over political developments in the country.

Police on Saturday were looking for a 49-year-old man believed to be the ringleader of a gang that used falsified documents to draw money from the accounts of deceased depositors.

The International Monetary Fund on Thursday said it could no longer release funds to Cyprus under its bailout this week, after the euro zone government suspended a foreclosure law that was required under the loan program.

The recent jump in Russia's interest rates, the weakening of the rouble and falling oil prices have increased risks to Russia's economy, Fitch Ratings said on Thursday.

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The Russian rouble fell in early trade on Friday, hitting a new historical low of below 57 against the dollar after a rate rise by the central bank failed to support the Russian currency.