Southeast Europe / News
Turkish state’s Ziraat Bankasi to issue up to $2bn of loan-backed bonds
Move comes amid lenders downgrade, weak Q3 results and IIF warning that Turkey’s “credit crunch has been unlike any other, in that the BoP sudden stop in August caused credit flow to turn negative”.
EU institutions slam judicial overhaul in Romania
Backlash from Bucharest as European Commission and parliament criticise changes to judicial system and undermining of anti-corruption fight in Romania, but neighbouring Bulgaria gets a better review in this year’s CVM report.
Turkey sharply cuts domestic bond offers at auctions, supresses yields
Commentators attack “perilous method”, veteran economists ask whether anyone at central bank remembers 1994 economic crisis.
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Macedonian ex-PM flees to Budapest to avoid prison term
Nikola Gruevski is seeking political asylum in Hungary after being sentenced to two years in prison over the purchase of luxury Mercedes with state funds.
Bolton: Turkey’s tape does not directly implicate crown prince in Khashoggi murder
Erdogan reportedly unconvinced that bin Salman should remain in power, Saudis blaming Ankara for “global revulsion” directed at kingdom.
Bulgaria’s President Radev calls government "arrogant and cynical" as protests swell
The situation is starting to resemble winter 2013 when Boyko Borissov's first government resigned following mass protests against high electricity prices.
Romania “not ready” to take over EU presidency, president claims
President Iohannis slams Romanian government’s lack of preparation as European affairs minister quits less than two months before Bucharest takes up the EU Council presidency.
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Macedonian police issue arrest warrant for ex-PM Gruevski
Police were unable to locate Nikola Gruevski, who was sentenced over the use of state funds to buy a €600,000 luxury Mercedes.
“Rebalancing by anorexia”: Analyst responds to Turkey’s second straight current account surplus
Economy swings to a positive September figure of $1.83bn from a $4.4bn deficit a year ago. Country experiencing painful hard landing.
Serbia holds huge military drills amid tensions with Kosovo
The Century of Winners 1918-2018 event was intended to mark the 100th anniversary of the end of World War I, but it also looked like a show of military force aimed at Serbia's neighbour.
IPO pricing values Slovenia’s NLB at €1.03bn
Slovenia's largest lender reports strong investor interest in second attempt at IPO after last year's flop.
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My good sir, what terrors lurk in dreams of Erdogan’s “largest” airport…
For a start—horror of horrors—it’s still far from being the world’s biggest. Then there're the worker deaths, the body in the storm drain, dirt-moving trucks running over kids and ecological hell. But let's begin with size and functionality.
Turkey raises €1.5bn from 2026 eurobond yielding 5.25%
Initial expecations for the yield reportedly stood at around 25 basis points higher.
Moldovan prosecutors probe whether suspected fraudster paid school fees for deputy PM’s son
Investigation launched after media claimed Ilan Shor, the visible beneficiary of Moldova’s $1bn bank frauds, paid $42,000 to cover former prime minister Iurie Leanca’s son’s tuition at a private UK college.
Turkey mandates lenders for 2026 eurobond issue amid pinkish sentiment
Turkish dollar bonds recover to highest levels in three months, but analysts warn country’s economic fundamentals still make it the most exposed emerging market to external shocks.
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Capital Economics warns of growing overheating risk in Romania
Overheating risks are building in the Romanian economy, Capital Economics analysts warned on November 6 after the Romanian central bank decided to keep its policy rate at 2.5%.
Erdogan: Turkey will “absolutely not” abide by US sanctions imposed on Iran
Russia calls measures illegitimate, while EU makes frustratingly slow progress in creating SPV to shield trade with the Iranians.
Turkish inflation again worse than expectations but with a weaker punch
Analysts see country as going through a brutal downturn and worry Erdogan administration will relent on monetary and fiscal discipline.
“Buried” document stash links Romania’s ruling coalition leader to scandal-hit construction company
Documents apparently buried for over a year and discovered by chance revealed links between PSD leader Liviu Dragnea and Tel Drum, a construction company under investigation for suspected EU funds fraud.
Serbia, Romania, Bulgaria and Greece plan joint bid to host 2030 World Cup
A successful bid would require billions of euros to be spent on building new stadiums and improving transport infrastructure.