http://www.bne.eu en 180 http://www.bne.eu/story5092 Slovakia moved on June 18 to sell its long-mooted Samurai bond issue. Striking just ahead of the US Federal Reserve's hotly-anticipated two-day meeting that ends on Wednesday, June 19, the JPY29.8bn (€234m) raised via three- and five-year notes was higher than Bratislava had expected, but the scrapping of a planned 10-year paper and the heavy bias towards the shorter dated instrument, illustrates the high uncertainty stalking emerging market debt. http://www.bne.eu/pics/1/5092_thumbnail_Bratislava02.jpg http://www.bne.eu/story5092 http://www.bne.eu/story5090 Around two weeks after torrential rains brought the threat of catastrophic floods to Central Europe, the swollen rivers had mercifully receded, the deluge headed for the oceans to the north and south. The floods left behind around 20 dead and a trail of destruction to the tune of billions of euros. However, there is also hope that the clean-up could help pull some countries out of recession. http://www.bne.eu/pics/1/5090_thumbnail_floods.jpg http://www.bne.eu/story5090 http://www.bne.eu/story5072 On May 11, Serbia's powerful deputy prime minister, Aleksandar Vucic, received the "2012 Best European Award" presented by the Serbian NGO, First European House. Who would have thought that one day this former secretary-general of the Serbian Radical Party and once a potential successor to its leader, ultranationalist Vojislav Seselj, could receive such an award? Perhaps, only himself. http://www.bne.eu/pics/1/5072_thumbnail_aleksandar-vucic1.jpg http://www.bne.eu/story5072 http://www.bne.eu/story5086 We are currently in Istanbul, as part of an on-going Turkey trip. A couple of general observations are perhaps worthy herein, after meeting with a range of diplomats, journalists, corporates/banks. http://www.bne.eu/pics/1/5086_thumbnail_riot.jpeg http://www.bne.eu/story5086 http://www.bne.eu/story5084 The latest wave of protests in Kyrgyzstan have caused a further setback in the government's efforts to develop the economy and attract foreign investment. But although Kyrgyzstan's move towards democracy since 2010 has resulted in many citizens taking their grievances straight to the streets, any hopes the opposition harboured that the unrest would escalate into a third revolution appear to have been dashed. http://www.bne.eu/pics/1/5084_thumbnail_Kumtor-protest.jpg http://www.bne.eu/story5084 http://www.bne.eu/story5073 An apparent Russian attempt to use energy supplies to force Armenia, one of its closest allies, to choose membership of the Customs Union over closer association with the EU, appears to have failed. With a hike in the price of Russian gas coming into effect, Yerevan said it's looking at alternative suppliers like Iran and holding talks on the sale of its largest hydroelectric power plants to a US company. http://www.bne.eu/pics/1/5073_thumbnail_armenia_gas.jpg http://www.bne.eu/story5073 http://www.bne.eu/story5085 Following tradition, the markets shrugged off the resignation of the Czech PM and likely collapse of the governing coalition on June 17. Indeed, as gains on the equities market hinted, it's possible investors are betting a left-leaning government is on the way, and that loosened purse strings will help push the economy out of recession. http://www.bne.eu/pics/1/5085_thumbnail_czech_raids.jpg http://www.bne.eu/story5085 http://www.bne.eu/story5079 A bribery and spying scandal that exploded onto television screens last week in a series of police raids on the prime minister's office and other ministries has forced Czech Premier Petr Necas to resign, taking with it his terminally ill government. The resignation leaves his party and its partners scrambling to form a new government under the current centre-right coalition. But with the new leftist President Milos Zeman in the castle and an opposition riding high in the polls, early elections are looking increasingly likely. http://www.bne.eu/pics/1/5079_thumbnail_necas9.jpg http://www.bne.eu/story5079 http://www.bne.eu/story5078 Turkey faces a one-day nationwide strike on Monday, June 17 to protest against the police crackdown on anti-government demonstrations, which Turkish Prime Minister Recep Tayyip Erdogan angrily justified at a counter-rally of his Justice and Development Party (AKP) on Sunday, June 16. http://www.bne.eu/pics/1/5078_thumbnail_riot.jpg http://www.bne.eu/story5078 http://www.bne.eu/story5076 Ukraine has no urgent need to tap debt markets, Finance Minister Yuriy Kolobov said in Kyiv on June 13. He added that the country will have to go back to debt markets later in the year to raise another $2bn – an option some suggest it is unlikely to enjoy. http://www.bne.eu/pics/1/5076_thumbnail_kolobov.jpg http://www.bne.eu/story5076