Europe Top News and Analysis Greece

  • ATHENS, May 17- Greece's National Bank plans to securitise three billion euros of non-performing mortgage loans by 2022, its chief executive said on Friday, as the country's lenders battle to deal with a legacy of bad debt. Presenting the 2019-2022 strategy of the country's second-largest lender, Chief Executive Paul Mylonas told a news conference that NBG...

  • Notables: German Chancellor Angela Merkel; outgoing European Commission chief Jean-Claude Juncker; Italian ex-premier Silvio Berlusconi; Polish EU summit chair Donald Tusk; Hungarian leader Viktor Orban, at risk of being expelled for anti-EU nationalism. Lead candidate: Frans Timmermans, 58, Dutch, deputy head of European Commission, former foreign...

  • ATHENS, May 16- Greece's second-largest lender National Bank plans to reduce its non-performing loan portfolio to around 5% of total loans by 2022, it said in an investor presentation on Thursday, from 41% at the end of 2018.. Gross non-performing exposures were seen at around 1.7 billion euros in 2022, from 16.3 billion at the end of 2018..

  • ROME, May 15- European Union budget rules are "starving the continent" and must be changed, Italian Deputy Prime Minister Matteo Salvini said on Wednesday, a day after he roiled financial markets by saying Italy should be ready to break the rules. Salvini sent markets into a spin after saying on Tuesday that Rome should be ready to break the EU's deficit ceiling of 3%...

  • BEIJING, May 15- China will only be more open to the world, President Xi Jinping said on Wednesday, as he denounced as "stupid" those who believe in cultural superiority, in his first public address since trade tension with the United States spiked last week. "Today's China is not only China's China. It is Asia's China and the world's China.

  • BRUSSELS, May 14- Italy's deteriorating public finances will break European Union rules this year and next unless Rome alters its policies, but the EU executive is split on how to best handle the case of the euro zone's third-biggest economy, EU officials said. The European Commission is closely watching Italy because of the country's huge public debt, the...

  • DUBAI, May 14- Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day within the next two years as it expands its trading operations there with an office opening this summer in London, a senior company executive said. Aramco is looking to finalize deals in the next two years through swapping mainly Saudi crude with oil products to supply...

  • STRASBOURG, FRANCE - JANUARY 15: The flags of the member states of the european union are blowing in the wind in front of The European Parliament (EP) on January 15, 2019 in Strasbourg, France.

    Euro-skeptics will get no mandate in forthcoming parliamentary elections to eviscerate the European Commission and deconstruct the European project of economic and political union, writes Michael Ivanovitch.

  • BRUSSELS, May 7- Italy's huge debt is expected to grow further this year and next as the country's growth remains sluggish, the European Commission said on Tuesday in quarterly economic forecasts that could reignite a dispute over Rome's budget. Brussels cut its already gloomy outlook of Italy's economy, which it now says is set to grow by 0.1 percent this year...

  • PRAGUE, May 3- Global security officials agreed a set of proposals on Friday for future 5 G networks, highlighting concerns about equipment supplied by vendors that might be subject to state influence. No suppliers were named, but the United States has been pressing allies to limit the role of Chinese telecom equipment makers such as Huawei Technologies over...

  • PRAGUE, May 2- Global cooperation is key to ensuring the security of 5 G networks, cyber security officials said on Thursday at a meeting in Prague aimed at hammering out how to combat threats as nations begin rolling out next-generation telecoms equipment. The United States has been seeking to limit the role of Chinese telecom equipment makers such as Huawei...

  • *Greece set to issue third new bond of year by June. *Ratings upgrades, bailout exit positive for Greece. Since coming off life-support in 2018, Greece has been trying to leave a nine-year debt crisis behind.

  • BEIJING, April 27- China sought to put a gentler face on its massive plan to recreate the old Silk Road at a summit that ended on Saturday, saying it must do more to explain the programme and boost sustainability even as state media hit back at critics. China has at times reacted angrily to such doubts, tending to characterise critics as harbouring anti-Chinese...

  • BEIJING, April 27- China sought to put a gentler face on its massive plan to recreate the old Silk Road at a summit that ended on Saturday, saying it must do more to explain the program and boost sustainability even as state media hit back at critics. China has at times reacted angrily to such doubts, tending to characterize critics as harboring anti-Chinese...

  • *Italy/ Germany yield tightens after hitting 270.7 bps. Italy is rated Baa3 by Moody's and BBB by Fitch. But Italian bond yields fell as the session wore on, a move analysts attributed to a view that Italy was safe from a downgrade for now.

  • *S&P currently has Italy at BBB with negative outlook. *Italy/ Germany yield gap hits 270.7 bps before tightening. LONDON, April 26- Italy's bond yield spread over Germany's briefly touched its widest level in two months on Friday before tightening decisively on bets that S&P Global will refrain from downgrading Italy at a scheduled ratings review.

  • SINGAPORE, April 25- U.S. sanctions against Iran have denied its government more than $10 billion in oil revenue since President Donald Trump first announced the move last May, a U.S. official said on Thursday. Special Representative for Iran and Senior Policy Advisor to the Secretary of State, made the comment during a call with reporters days after Washington...

  • Gold in hand, stacked

    Gold steadied on Wednesday, crawling up slightly from the lowest in nearly four months hit during the previous session, with bullion pressured by a robust dollar as U.S. stocks took a breather following a strong rally.

  • *Spot gold had fallen 0.1 percent to $1,270.40 per ounce by 0105 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. *Public debt in Greece and Italy, the two most indebted countries in the euro zone, grew last year while the bloc as a whole saw its liabilities decrease, the European Union statistics office said on Tuesday.

  • The Pentagon's biggest weapons supplier is the first major defense company to report quarterly earnings this week, which Wall Street expects to be higher than a year ago as global demand for arms rises. On April 1, in a deal that was partially brokered by Trump, the unit was awarded a THAAD interceptor missile contract worth $2.4 billion, many of which are slated to...