Ukraine says it hit two munitions depots in Russia

A nighttime Ukrainian drone attack caused a fire in the Krasnodar region of southwest Russia, leading to the temporary evacuation of more than 1,200 residents.

Ammunition depot catches fire in Russia's Belgorod Region, continued explosions, evacuations

 

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 Residents of the villages of Timonovo and Soloti are taken to a safe distance, said the head of the Russian region Vyacheslav Gladkov.

Russia rejects allegations of chemical warfare agents at Syrian air base as groundless

The statements that the nerve gas sarin was present at the Syrian air base in Homs that was hit by a missile strike are groundless, Director of the Russian Foreign Ministry’s Department for Non-Proliferation and Arms Control Mikhail Ulyanov told TASS on Friday.

India: Demonetisation takes its toll on the poor

Endless lines outside banks have become the norm in India, as millions of people queue to deposit or exchange the 500 and 1,000 rupee notes that since last week have become officially worthless.

India raises withdrawal limit as rupee anger mounts

The Indian government has raised the limit on cash withdrawals following widespread public anger about the surprise abolition of 500 ($7.6) and 1,000 rupee notes last week.

Millions scramble for new banknotes following India currency withdrawal

Millions of people in India rushed to banks and ATMs after the country pulled all of its 500 and 1,000 rupee notes out of circulation.

India scraps 500, 1,000 rupee currency notes

India Tuesday night abolished currency notes of 500 and 1,000 denomination in one of the biggest revolutionary monetary reforms since independence, aimed at curbing the menace of black money.

Latvian authorities reassure depositors money is safe at closed bank

State officials and banking supervisors scrambled on Friday to reassure clients of Latvia's Trasta Komercbanka that their money was safe after the bank's license was withdrawn last night at the regulator's request.

Greek markets open 22.8% down after five-week closure

Greece's stock market fell sharply on Monday after being closed for five weeks under capital controls imposed by the government in Athens to stop a flight of euros from the country.

Turkey: Eyes on Finansbank amid Greece’s fallout fears

The Turkish banking sector’s eyes are on Finansbank, 99.8 percent of which is owned by the National Bank of Greece (NBG), after the dramatic deterioration in the Greek economy, while a high level representative in Finansbank said any concerns about the bank’s deposit are baseless.

Greece to shut banks and stock exchange on Monday

Greek banks and the stock exchange will be shut tomorrow after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.

EU sees 'opportunity' for a debt deal with Greece after emergency talks

Eurozone finance ministers were cautiously optimistic on Monday that a deal on Greece's bailout was finally within reach this week, amid fears the country might otherwise default on its debts and fall out of the euro.

ECB to hold special meeting over emergency Greek funding

The European Central Bank's governing council will hold a special meeting tomorrow to examine whether to raise the level of emergency funding for Greek banks, after Greece's banking system has come under intense pressure with clients withdrawing billions in savings.

Greece to present new reform plan

Greek Prime Minister Alexis Tsipras has agreed to accelerate a list of economic reforms in order to avoid running out of money within weeks following a three-hour meeting with the leaders of France and Germany, the president of the ECB and the head of the eurogroup of eurozone finance ministers.

Moody’s downgrades Greece’s bank deposit ceiling. (“The announced ceiling change will not have an impact on any bank rating in Greece")

Moody’s Investors Service announced Friday that it “lowered Greece’s local and foreign-currency bank deposit ceiling to Caa1 from Ba3.”

La tragedia griega (OPINIÓN)

Cuando Syriza presentó su programa económico el pasado mes de septiembre era evidente que fracasaría en el intento y tendría que renunciar a la mayoría de sus propuestas. El anuncio provocó una fuga de capitales, un desplome de la Bolsa de Atenas del 30% y un aumento de la prima de riesgo a 3 años de 1.300 puntos básicos. Es un terremoto similar al que provocó el temor a la quiebra de Bankia en 2012, pero en Grecia todo es más trágico. Lo más preocupante es que la fuga de capitales se ha contagiado a una fuga de depósitos. Tres de cada cuatro griegos no sólo no votaron a Syriza sino que consideran que sus propuestas podrían provocar la salida del euro y la quiebra del sistema bancario. Muchos han decidido sacar sus ahorros y en la mayoría de los casos meterlos debajo del colchón.

Standard & Poor's baixa rating da Grécia

A agência de notação financeira Standard & Poor's (S&P) baixou, esta sexta-feira, o rating da Grécia de B para B-, alertando Atenas para o tempo limitado que tem para chegar a um acordo com os credores...

State aid: Commission approves resolution aid for Portuguese Banco Espírito Santo (European Commission)

European Commission, Press release, Brussels, 4 August 2014:

The European Commission has found the resolution plan of the Portuguese Banco Espírito Santo S.A. (BES), including the creation of a Bridge Bank, to be in line with EU State aid rules. The measures notified by Portuguese authorities will allow the orderly resolution of the remaining bad bank and provide the bridge bank with the necessary means to maximise the value of its assets in the sale process, while limiting the distortions of competition created by the State aid granted.

European Commission gives green light for 3.3B leva (about 1.69 billion euro) in state aid for Bulgarian banks

The European Commission said on June 30 that it has authorised Bulgaria to use of 3.3 billion leva (about 1.69 billion euro) for a credit line that would ensure sufficient liquidity in Bulgaria’s banking system.

The Commission said that the state aid implied by the liquidity measure “is proportionate and commensurate with the need to ensure sufficient liquidity in the banking sector in the particular circumstances.”