The European Commission has rejected Germany’s demand that Greece give up control over its budget policy to a special powerful EU Commissioner.On Saturday, it emerged that Germany wants the new euro zone "budget commissioner" to have the power to veto budget decisions taken by the Greek government if they are not in line with targets set by international lenders.According to the German plan, Gree...
Germany is pushing for Greece to give up control over its budget policy to EU institutions, according to EU sources.As part of discussions over a second rescue package for Greece, there are internal discussions within the Eurogroup and proposals, one of which comes from Germany on giving European institutions already operating in Greece some decision-making powers over debt-ridden Greece"s fiscal...
Bulgaria"s Deputy Prime Minister and Finance Minister, Simeon Djankov, has given generous end-of-year bonuses to employees at his institution.The news that Djankov offered bonuses in the amount of BGN 233 725 at the end of 2011 was reported by the Bulgarian "Trud" (Labor) daily, citing the Head of the Human Resources Department at the Finance Ministry.The sum has been divided among 176 employees,...
Bulgaria is not going to participate in the new EU Fiscal Pact if it requires that taxation policies be harmonized, Bulgarian Prime Minister Boyko Borisov has declared in Brussels at the emergency meeting of EU leaders.Right before the start of the forum, Borisov made it clear that Bulgaria has one single condition for joining the EU Fiscal Pact – a brainchild of French President Nicolas Sarkozy a...
EBRD chief economist Erik Berglof has started to drum support for a new Vienna Initiative in a bid to stop an outflow of capital from emerging Europe."What I took away from this meeting was a remarkable consensus," Erik Berglof, chief economist of the European Bank for Reconstruction and Development, said at a Euromoney conference in Vienna on Tuesday."Now it"s to sit down and work out the details...
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