The Bulgarian journalists have reckoned how much is an average country citizen poorer than that of a neighbouring Greece. It turned out, that average income of the Greeks have been 3,5 times higher against that of the Bulgarians for some years. In 2013, for example, an average annual income of a Greek resident made up €8,879, that is 17,366 Bulagarian Leva. An average Bulgarian citizen got only... 

To download this show in Mp3 format: click here. Summary: Economist and best-selling author Harry S. Dent Jr., returns with comments on the latest Grexit drama, noting a default is imminent. A bankruptcy will benefit the nation as forced fiscal responsibility curtails government profligacy. The only country to effectively ameliorate the debt problem is Iceland, which defaulted on foreign debt shielding... 

Chinese stock indexes rebounded Thursday. The Shanghai Composite added about 6 percent after the securities regulator made a bold move and stopped shareholders with more than a five percent stake in a listed company selling their stocks for six months. The Shanghai Composite Index closed 5.8 percent higher on Thursday and in Hong Kong the Hang Seng China Enterprises Index saw its biggest rise since... 

The Greek debt crisis, the expected lifting of sanctions on Iran and oil and stock market volatility will dominate the agenda of the BRICS summit which is opening today in Russia. During their two-day meeting in Ufa, the leaders of Brazil, Russia, India, China and South Africa will discuss closer industrial, technological and financial integration of their countries within the five-nation bloc. The... 

Russian President Vladimir Putin has assured Greeks that he will support them in the financial hardships they face after the Greek people overwhelmingly voted “No” to further restricting terms of an international bailout program. In a phone conversation on Monday, Putin discussed the results of a Sunday referendum with Greek Prime Minister Alexis Tsipras, voicing his support for the Greek... 

Finance Minister Schäuble earlier asserted that the Greek crisis will have no serious consequences for the federal budget. However, President of the German Federal Bank Jens Weidmann views the situation in a different way. Greece’s withdrawal from the Eurozone is likely to create huge ‘holes’ in the federal budget planned by German Finance Minister Wolfgang Schäuble (CDU). Last Wednesday,... 

More than 61 percent of Greeks have voted “No” in Sunday’s referendum on the bailout deal and austerity measures, reported the Interior Ministry after almost 90 percent of the vote had been counted. Thousands of people took to Syntagma square in front of the Greek parliament in Athens to celebrate the ‘No’ vote, which was called “a big Yes to democratic Europe” by the country’s finance... 

German Finance Ministry spokesman Martin Jaeger. Germany has ruled out any restructuring of Greece’s debt to international creditors, despite a report by the International Monetary Fund (IMF) which shows the cash-strapped country is in dire need of debt cancellation. An analysis by the IMF, which was released in Washington on Thursday, showed that Greece needed an extra EUR 50 billion (USD 56 billion)... 

Two rival rallies took place in Athens on Friday. Police estimate that 25,000 came out to support the ‘No’ camp, which calls for the rejection of a new bailout deal with creditors in Sunday’s referendum, while 20,000 gathered to back the “Yes” vote. Greece’s Prime Minister, Alexis Tsipras, who called the referendum last week to add more weight to his position in talks with creditors, addressed... 

The EU and its financial institutions have been pushing an austerity policy on Greece for the last five years. High unemployment, more taxes, billions of euros fleeing, and an increase in suicides mean Greeks on Sunday have to decide if enough is enough. What happened? In January, the left-wing Syriza party led by Prime Minister Alexis Tsipras promised to end years of austerity measures without leaving... 

The International Monetary Fund has confirmed that it didn’t receive the €1.6 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations. IMF spokesman Gerry Rice said in a statement that Greece had asked for a repayment extension earlier Tuesday and that the fund’s board will consider... 

The International Monetary Fund (IMF) has recently called on Ukraine and its creditors to continue negotiations on the country’s debt, but the editor-in-chief of the business and finance media company thinks that Kiev should instead concentrate on “fixing what is absolutely, chronically broken economy” and launch immediate reforms. The International Monetary Fund (IMF) has called on Ukraine... 

The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout deal is held. The Stoxx 600 Banks Index fell by 4.4 percent, the biggest daily decline since November 2011, Bloomberg reports. Among the biggest losers is Portugues Banco Comercial down 9.1 percent, and Italy’s Banca Monte dei Paschi... 

Greece has announced the temporary closure of banks and stock market as leaders of the US and Germany weigh in on the country’s debt crisis. The Bank of Greece has recommended a “bank holiday and restriction of bank withdrawals” on Monday, Greek Prime Minister Alexis Tsipras announced in a statement on Sunday. Athens stock market would also stay closed and capital controls are to... 

Angry pensioners have hit the streets of the Greek capital, protesting against the reports of a new austerity plan being ushered onto them. It comes as Greece and its lenders debate the nation’s €240 billion debt. Demonstrators say they feel betrayed by Syriza’s measures of the upcoming deal, which, according to AP, suggests increasing the contributions that employees pay for pensions,...