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Greek government must explain next step: Luxembourg PM LUXEMBOURG: The Greek government must explain how it sees the next steps after Greeks voted overwhelmingly on Sunday to reject the terms of a bailout, Luxembourg Prime Minister Xavier Bettel said, voicing optimism that a solution can be found. "The Greek government has to explain how it sees the way forward, respecting European procedures. Negotiations have not become easier, but Europe is strong and I am confident that we find a solution," Bettel, whose country has just taken over the EU's rotating presidency, said in a statement sent to Reuters. Copyright Reuters, 2015 ...

Up to Greece to act if it wants to stay in euro: Germany BERLIN: Germany insisted Monday that the ball was in Athens's court if it wanted to stay in the eurozone, after Greece rejected creditors' austerity demands in a weekend referendum."It is up to Greece to make something of this. We are waiting to see which proposals the Greek government makes to its European partners," Chancellor Angela Merkel's spokesman Steffen Seibert told reporters.Copyright AFP (Agence France-Presse), 2015 ...
Borrowing costs of southern Europe edge up after Greek referendum PARIS: Borrowing costs of southern European countries on Monday edged up slightly after Greek voters rejected further austerity measures in return for bailout funds in a weekend referendum.Shortly after trading opened at 0600 GMT, the yield on the benchmark 10-year bonds for Spain rose to 2.349 percent, against 2.212 percent at close of trading on Friday, while Italy's inched up to 2.380 percent from 2.248 percent. Greece's yield rose to 14.800 percent against 14.630 percent.Copyright ...
UK will do 'whatever is necessary' to protect its economy after Greek vote: govt LONDON: Britain will do "whatever is necessary to protect its economic security", a government spokesman said Monday after Greeks voted overwhelmingly against austerity in a referendum that could send them crashing out of the eurozone with unknown consequences."This is a critical moment in the economic crisis in Greece," a Downing Street spokesman said. "We will continue to do whatever is necessary to protect our economic security at this uncertain time. We have already got contingency ...
Hillary Clinton hopes for 'strong verifiable deal' with Iran GLEN: US Democratic presidential candidate Hillary Clinton said on Saturday that even if a deal is reached with Iran over its nuclear program, Tehran's "aggressiveness will not end" and it will remain a principal state sponsor of terrorism."They will continue to destabilize governments in the region and beyond. They will continue to use their proxies like Hezbollah. And they will continue to be an existential threat to Israel," Clinton said at a campaign event.Copyright Reuters, ...
Greek pro-bailout 'Yes' vote in referendum ahead ATHENS: The number of Greeks planning to vote 'Yes' in this weekend's referendum in favour of accepting the latest bailout proposals is slightly higher that those opting for 'No', a survey said Friday.According to the poll by the Alco institute on June 30 and July 1, after capital controls were introduced in Greece, 44.8 percent intend to vote 'Yes', 43.4 percent are for 'No' and 11.8 percent of respondents are undecided ahead of Sunday's referendum.Copyright ...
Spanish jobless claims fall in June for fifth straight month MADRID: The number of registered unemployed fell in Spain for the fifth straight month in June, government data showed Thursday, but the country continues to battle one of the highest jobless rates in Europe. Jobless claims declined last month by 94,727 or 2.25 percent to 4.12 million, the labour ministry said in a statement.The number of people without work fell across all sectors except for agriculture and in every region although the majority of new ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln