debt

The new Greek government of the leftist party SYRIZA wanted to take back austerity reforms in order to, for example, “gradually restore salaries and pensions so as to increase consumption and demand”. But it seems that the only thing accepted by the European Commission and eurozone finance ministers is 4-month extension of the bailout in return for presenting a list of reforms that Greece had committed to undertake.

2014 was the most difficult year for Ukrainian economy in the 21st century. Ukraine faced economic crisis and military conflict in the East, while Russia annexed Crimea. Real GDP is estimated to decline by near 7% in 2014 due to a drop in domestic demand and weak external demand.

Spain had its public debt at the level of 68.5% of GDP in 2011, and then at 85.9% in 2012, and now Prime Minister Mariano Rajoy believes that this year Spain will end with the debt of 94.2% of GDP. Spain is definitely a big problem for the EU.

At the end of the year, we ratified the fiscal compact. Spain bids farewell to the year of bad news. Berlusconi is alive and well. The Great Greek Wall. EFSF had a successful year.

Just recently the Ministry of Finance issued 5-year external debt in euro, with annual coupon of 4,25% and annual yield of 4,436%. The total value of the issue was EUR 950 million, while the submitted bids stood at over EUR 6 billion. The issue was oversubscribed in just 30 minutes from hitting the screens and […]