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Economy & Finance
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Tuesday, 13 July 2010 15:58 |
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 The Council of Ministries of Economy and Finance of the EU approved Estonia's adoption to the euro from 1 January 2011. The currency exchange from Estonian kroon to Euro remains with the same value: 15, 6466 to 1. So, Estonia becomes the 17th Member of the Euro zone.
The only obstacle to Estonia could become an excessive budget deficit, but ultimately it was a positive decision. For other criteria, Estonia confidently fits the Euro Zone.
Six months are given to Estonia for the preparation to euro transition. European banknotes and coins will be simultaneously in circulation together with the transition to the euro. European Commissioner Olli Rehn assured that the euro area is still able to respond quickly to possible economic crises and remain viable. |
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Economy & Finance
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Tuesday, 13 July 2010 10:04 |
 Bloomber reported that Banco Santander (Spain Bank) has agreed to buy 173 SEB's German retail banking offices with the price of 555 million euros. Spain's biggest bank expects the transaction to be completed by 2011. SEB's German unit serves approximately 1 million customers. SEB's German unit serves approximately million customers. Unit size of the loan portfolio is about 8.5 billion euros and 4.6 billion euros counted for the clients' deposits.
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Economy & Finance
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Friday, 11 June 2010 12:11 |
 Estonia got the final approval for the Euro adoption on January 1st, 2011. On May 12th, Estonia won European Commission support to become the euro area’s 17th country after outperforming the bloc’s existing members on the Maastricht Treaty fiscal criteria. According to S&P Euro accession “should reduce exchange rate risk and improve Estonia’s access to European capital markets. The Prime Minister of Luxembourg Jean-Claude Juncker has reported that the current Estonian policies are ready for further structural reforms' implementation, maintenance of fiscal disciplines, financial stability preservation and the avoidance of economic imbalances. On May 28th, Estonia used to participate in OECD. OECD is a forum for democratic nations which is located in Paris. the organization was established in 1961 on the basis of the Organization for European Economic Cooperation. |
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Economy & Finance
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Friday, 29 January 2010 17:37 |
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 According to the report of the Minister of Health and Social Policy, despite the economic crisis Spanish Social Policies have used to lower down the digit of poverty comparing with the previous year. The European Commission has approved the need of EU policies’ coordination and strategy for fighting against the poverty. Despite the risk criteria exclusion still about 20 percent of the population lives in poverty.
Please, read the full article here |
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Economy & Finance
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Monday, 07 December 2009 17:54 |
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 The agreed merger of two Catalan institutions, Caixa Penedes and Caixa Laietana will create a powerful platform for the appearance of the ninth-largest savings bank by assets: EUR 32 billion. In addition to financial units, the tie-up will involve employment of 4000 people and over 900 offices. According to the governor of Bank of Spain, 1/3 of 45 savings banks could be favorably passed on to the absorption of stronger institutions.
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Economy & Finance
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Tuesday, 04 August 2009 09:14 |
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According to observations towards the consumer behavior, in July Spaniards saw cheaper prices for the purpose of savings and the demand of consumer goods.
If to refer to construction sector, the outcome is not so positive concerning the sales of new properties. About half of them still do not have own buyer.
The car market tried to improve its situation in June, where sales have stopped the recent decline.
The chain of German shops Lidl had reported an interest of its expansion in Spain. |
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Economy & Finance
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Monday, 15 June 2009 22:15 |
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For the reserves Estonia has, it is in the best condition among Baltic countries, Christoph Rosenberg, head of the International Monetary Fund’s mission to central Europe, said, arileht.ee writes. |
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