BUCHAREST, Oct 2 (Reuters) – Romanian prices could fall
twice as sharply as previously estimated this year, due to a
bigger-than-expected impact from a value added tax cut on food,
central bank Deputy Governor Bogdan Olteanu said on Friday.
Olteanu said inflation at the end of 2015 could
be as low as -0.6 percent year-on-year compared to August’s
projection of -0.3 percent. An updated forecast will be released
in November, and Olteanu said his latest figures were “very
SOFIA (Reuters) – Bulgaria’s banks are likely to see further consolidation, and those with a market share of five percent or above may be especially attractive to buyers, Deputy Central Bank Governor Kalin Hristov said on Thursday.
Greek banks hold just under a fifth of Bulgaria’s banking assets, some of which they may be forced to shed in exchange for state aid they received to weather their country’s debt crisis.
SOFIA (Reuters) – Bulgaria’s Postbank, a unit of Greece’s Eurobank (EURBr.AT: Quote, Profile, Research, Stock Buzz), expects to see further consolidation in the Bulgarian banking sector and warned that Europe’s migrant crisis could hamper growth in the economy.
Chief Executive Petia Dimitrova, in an interview for the Reuters Eastern Europe Investment Summit on Thursday, also played down the impact of the Greek crisis on Greek-owned lenders in Bulgaria and said Eurobank had no plans to sell its Bulgarian operations.
SOFIA (Reuters) – Bulgaria is ready to finalise a deal to build a gas link to neighbouring Greece but is waiting for the new government in Athens to move ahead with the project, Bulgaria’s Deputy Energy Minister Nikolay Nikolov said on Wednesday.
Bulgaria wants to build the link as part of its efforts to wean it off near total dependence on Russian gas and turn itself into a regional energy hub.
ATHENS (Reuters) – Greek leftist Syriza party on Wednesday fell behind its main conservative rivals for the first time since former premier Alexis Tsipras resigned, offering further evidence that his decision to call a snap election could backfire.
Syriza is on course to win 25 percent of votes at the Sept. 20 election while the conservative New Democracy party will win 25.3 percent, a poll by GPO showed. Nearly 13 percent of respondents were still undecided.
ODRINTSI, Bulgaria, Aug 12 (Reuters) – A self-described
shaman who discovered the healing powers of herbs while seeing
visions on his sickbed; a former consultant for IBM who ditched
PowerPoint presentations to drive across Africa and an artist
from Luxembourg who is a qualified plumber.
They are among a group of 22 people newly settled in the
crumbling village of Odrintsi in southeastern Bulgaria where
they live without electricity, but with 230 goats.
ATHENS, July 13 (Reuters) – Greek Prime Minister Alexis
Tsipras flew back to Athens on Monday to try to ram a
controversial bailout deal he secured from creditors through
parliament, as anger mounted at more painful austerity measures
that could fracture his government.
A sleep-deprived Tsipras has until Wednesday night to quell
dissent within his own ranks — probably by sacking hardliners
– and get unpopular measures passed that include higher value
added tax and pension reforms.
ATHENS, July 13 (Reuters) – Greeks greeted news of a deal
with creditors on Monday with a measure of relief mixed with
much anger, particularly at Germany, after it became clear
Greece will have to swallow more austerity that could fracture
the government and spark a backlash.
A sleep-deprived Prime Minister Alexis Tsipras will fly back
to Athens to sell an agreement that ended up being tougher than
proposals Greeks overwhelmingly rejected in a referendum on July
5. He has days to quell dissent within his own ranks — probably
by sacking hardliners — and ram reform laws through parliament.
ATHENS, July 12 (Reuters) – Greeks accused Germany of trying
to humiliate them by making tougher demands for a new bailout
deal, as the country’s fate in the euro zone hung in the balance
ahead of a meeting of European ministers in Brussels on Sunday.
Elected on a promise to rid Greece of austerity, Prime
Minister Alexis Tsipras was forced this week to make last minute
concessions to the international creditors for painful
austerity measures in the hopes of securing a cash-for-reforms
SOFIA (Reuters) – To reduce its dependence on Russia, Bulgaria is working to sign a contract with Poland as early as July to service Sofia’s Soviet-era MiG-29 fighter jets, maintained until now by Russia, Defence Minister Nikolay Nenchev said on Monday.
A standoff between the West and Russia over Ukraine has forced Bulgaria, part of the Soviet-dominated Warsaw Pact during the Cold War but a NATO member since 2004, to walk a tightrope over its military, energy and trade relations with Russia.