New central bank regulations have been approved, cutting short talks between the International Monetary Fund and the European Union. Now, Hungary is also less likely to obtain a bailout. In Budapest, parliament has expanded the Monetary Council, opened a position for an additional vice president, and stripped current President Andras Simor of his right to…
Russia Offers Additional Funds to Support the IMF and the Eurozone
On Thursday, Russia announced that it is ready to contribute to a Eurozone IMF rescue. The news came at the end of a two-day meeting, where President Dmitry Medvedev mentioned financial aid and “other measures” which would be invested to resolve the situation. Other issues discussed at the summit included energy deals, Syria and an…
Canada Offers to Add to Europe Bailout Fund
Jim Flaherty, finance minister, recently stated that Ottawa would be willing to contribute to the IMF’s European bailout fund on the condition that other G20 countries participate as well. “There’s some sense around the world that is at the end of the day we have to provide some help somehow, that we would not turn…
Eastern European News
Lithuania Propels into Fintech
Lithuania is fast gaining a reputation for being the most accelerated Fintech hub in all of Europe. It features year-on-year 40% growth in the area as well as a burgeoning talent base and quite unique regulatory route. This has rendered it Europe’s largest e-money license issuer. As such, large names are flocking to the area…
Business in Europe: Best Countries Report
Yesterday the European Chamber (EUCHAM) put out a report of “rank[ing] and analyz[ing] all 46 European countries according to their economic environment.” In brief, it was found that the list toppers were those from the Nordic regions (Denmark, Finland, Norway and Sweden). Next on the list was the UK. While in general the FSU countries…
