Southeast Europe / News

Tensions between Bulgaria and Turkey escalate ahead of Bulgaria's presidential election runoff

Denitsa Koseva in Sofia November 21, 2021

Supporters of the ethnic-Turk DPS party could play a critical role in Sunday’s runoff between the incumbent President Rumen Radev and Gerb-backed Anastas Gerdzhikov.

Albania’s EU accession talks still held up by Bulgarian veto on North Macedonia

bne IntelliNews November 19, 2021

Progress unlikely at upcoming EU Council meeting as Bulgarian politicians are still trying to reach a coalition deal following latest general election.

Turkey cuts rates again as Erdogan defies crisis warnings

Akin Nazli in Belgrade November 18, 2021

Lira drops 6%. "How events unfold from here is extremely uncertain," says analyst.

Central and Southeast European economies remain fragile, says Vienna Initiative of banks

bne IntelliNews November 18, 2021

Banks may be tested by the withdrawal of government help to companies, particularly as infection rates begin to soar again.

Montenegro probes allegations of President Djukanovic’s involvement in money-laundering ring

Denitsa Koseva in Sofia November 18, 2021

Djukanovic denied claim by Albanian oil businessman Rezart Taci that he had participated in an international money laundering scheme.

Romanian FMCG wholesaler Aquila raises €74mn in Bucharest IPO

Iulian Ernst in Bucharest November 18, 2021

Aquila's debut was the largest IPO completed by a private company in Romania in the last four years.

Romania’s new ruling coalition still in limbo after ten days of talks

Iulian Ernst in Bucharest November 18, 2021

Romania's two biggest parties are in talks on forming a broad coalition in an attempt to end the country's deepest political crisis in decades, but so far they have struggled to put aside their rivalry and find common ground.

Sberbank extends additional $800mn in 7-year loans for Turkey's first nuclear plant

Akin Nazli in Belgrade November 17, 2021

Pace of construction said to have reached next level. But controversies at the building site have become a matter of everyday news for Turks.

Concerns Turkey could face another currency crisis ‘growing louder’ says Capital Economics

bne IntelIiNews November 16, 2021

The lira has crashed through psychologically important level of 10/$ following “continued obedience” of Turkish central bank to President Erdogan’s pressure for rate cuts.

Ministry reveals Montenegro massively overspent on motorway project that ramped up country’s debt

Denitsa Koseva in Sofia November 16, 2021

Two feasibility studies published by the capital investment ministry indicate Montenegro’s previous government borrowed at least $140mn more than the first priority stretch of the Bar-Boljare motorway should have cost.

Slovenia launches mass mobilisation of medical staff to fight pandemic

Valentina Dimitrievska in Skopje November 16, 2021

Shortages of doctors and nurses reported as latest wave of pandemic overwhelms Slovenian hospitals.

EU slaps Belarus with new sanctions for stoking migration crisis at Poland’s border

Wojciech Kosc in Warsaw November 16, 2021

A list of people and entities to be hit by asset freezes and travel bans is expected to be finalised in the coming weeks.

Top opposition politicians back protesting farmers in Albania

bne IntelliNews November 15, 2021

Cash-strapped farmers hit by soaring energy and fertiliser costs are demanding Edi Rama’s government rethink the 2022 budget to give them more support.

Change Continues to start coalition talks after winning Bulgarian snap election

Denitsa Koseva in Sofia November 15, 2021

Bulgaria’s newest political player has the chance to form a government if it manages to bring together a diverse group of smaller parties.

As lira carnage mounts BBVA moves to snap up rest of Turkish bank Garanti

Akin Nazli in Belgrade November 15, 2021

Spain-based group sees chance to acquire stake at bargain price. Some critics worry Turkey’s economic distress means foreign investors will bag too many assets on the cheap.

Change Continues and Gerb neck-and-neck in Bulgarian parliament election

Denitsa Koseva in Sofia November 14, 2021

Politicians from both parties say they will try to form a government as exit polls indicate a very tight race.

Disappearance of ethnic Albanian MP thwarts opposition attempt to overthrow North Macedonia’s government

Valentina Dimitrievska in Skopje November 11, 2021

Besa leader called the police after party member Kastriot Rexhepi failed to turn up for crucial vote — but Rexhepi later appeared in a Facebook video claiming to be “fine and in good health”.

North Macedonia’s PM Zaev to postpone resignation ahead of crucial EU summit in December

Valentina Dimitrievska in Skopje November 10, 2021

Influential international leaders including German Chancellor Angela Merkel reportedly contacted Zaev to urge him not to step down before summit.

Romania’s central bank cautiously raises refinancing rate by 25bp

Iulian Ernst in Bucharest November 10, 2021

National Bank of Romania increased the refinancing rate to 1.75%, against consensus expectations for a steeper tightening of the monetary stance.

Unicredit set to complete exit from Turkey's Yapi Kredi Bank with sale of remaining 20% stake

Akin Nazli in Belgrade November 10, 2021

Group will book €1.6bn loss on transaction. Market value of Yapi Kredi has tumbled in recent years amid Turkey’s economic turmoil.