The European Commission on Wednesday demanded that Bulgaria explain why it abruptly raised its 2010 budget deficit forecast, reiterating doubts about the quality of the country's statistics. The European Union's executive said
Ratings agency Standard and Poor's is likely to make a decision on its negative outlook on the UK shortly after the UK budget on June 22, the agency's head of sovereign ratings
Cyprus Finance Minister Charilaos Stavrakis stressed on Wednesday that fiscal consolidation remains a necessity, as the Cypriot economy recorded growth of 0.1% in the first quarter of 2010. ''Fiscal consolidation is absolutely
Ratings agency Standard and Poor's does not consider that a Greek debt default in the near term and a breakup of the euro zone are inevitable, a senior official said on Wednesday.
Cyprus's economy returned to a 0.1 percent growth in the first quarter of 2010 on a quarterly basis compared to a 0.3 percent contraction in the fourth quarter of 2009, the statistics
Europe's debt crisis could disrupt global trade, hurting demand for Asian exports and sending "hot money" into the region if policymakers fail to act swiftly and appropriately, a top IMF official said
Most Asian stock markets clawed back early losses on Wednesday and the euro stabilised as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian
Asian stocks fell on Wednesday and the euro wobbled near four-year lows after Fitch Ratings said the UK faced a "formidable" fiscal challenge, fueling concerns that Europe's sovereign debt problems could stifle
Oil rose for a third day on Wednesday, adding 0.7 percent after an industry report showed a larger-than-expected decline in U.S. crude stocks, bolstering the view that a glut will dwindle as
The government of Cyprus has set the development of commercial shipping as one of its basic priorities, Minister of Communication and Works Erato Kozakou – Markoullis has stressed. Addressing a luncheon on
