Fiscal policy

At the end of 2009, as Greek bondholders were beginning to worry about a possible debt crisis, Greece's central government debt stood at about 300 billion euros, roughly 130 percent of gross domestic product. Its fiscal deficit for the same year had been over 15 percent of GDP.

Greece raised 812.5 million euros (about one billion U.S. dollars) from a treasury bill auction on Wednesday, the Greek Public Debt Management Agency (PDMA) said.

The 13-week treasury bills were sold at an interest rate of 0.79 percent, down from the 1.05 percent of a similar previous sale in March, according to an e-mailed press release.

The Turkish government has announced the details of a new project-based $34 billion package in an effort to create new jobs and push down the country's rising current account deficit.

Greece sold 1.14 billion euros' worth of treasury bills on Wednesday, according to the Greek Public Debt Management Agency (PDMA).

The six-month treasury bills were sold at an interest rate of 1.07 percent, compared to 1.19 percent in a similar auction last month, according to an e-mailed press release.

The civil servants' union ADEDY has called a 24-hour strike for Wednesday, May 16, to protest the government's continuing austerity program.

The union is calling for wage increases and the restoration of the so-called 13th and 14th salaries. It also opposes plans to abolish the benefits and status of arduous and unhealthy professions.

Greece's central government attained a primary budget surplus of 2.75 billion euros in the first two months of the year, well above its target thanks to higher tax revenues and lower spending, finance ministry data showed on Wednesday.

International Monetary Fund Managing Director Christine Lagarde said she saw positive and negative effects from a “complicated” U.S. tax overhaul, including a near-term growth bump that risks overheating the U.S. economy and a problematic rise in debt.

The Macedonia issue, Greek-Turkish differences, the Novartis case, the impending "exit from the bailouts," the rising lawlessness and the poison in politics and public life are all serious issues and rightfully concern us.

Romania's economy grew at record rates in 2017 due to an increase in consumption since fiscal relaxation.

But some analysts warn that while fast growth looks like good news, the government is neglecting investment and the country is bound to face difficulties in the future.

Prime Minister Viorica Dancila announced on Thursday that farmers will receive this year their subsidies for agriculture in advance.