Europe round-up: Greek pensioners besiege banks to grab cash, and more

3 Jul 15

3 July 2015

A round-up of recent public finance stories from Europe you might have missed.


Greek pensioners besiege banks to grab cash

In chaotic scenes, thousands of elderly Greeks besieged the nation's crisis-hit banks, which reopened to allow them to withdraw vital cash from their state pensions. (AFP via Yahoo News!)


Ukraine looks to privatization to counter budget woes

FEATURE: In his 50 years at the state farm here, Volodymyr Polutskiy says his work has dwindled from producing silk for Red Army parachutes to eking out a living chopping wood and growing wheat. (Nasdaq)


Swiss government unveils billions more in budget cuts

Switzerland’s government announced additional spending cuts of up to 5 billion Swiss francs ($5.31bn) in the coming years as the country grapples with a surge in the franc’s value. (Reuters)


Vanishing act: how global auditor failed to spot theft of 15% of Moldova’s wealth

One of the world’s leading auditors has been accused of negligence and incompetence after $1bn was siphoned out of Moldova from under its nose – a sum equivalent to 15% of the former Soviet republic’s GDP. (The Guardian)


Price of Russian oil halves in first half of 2015

The average price of Russian oil fell nearly 50 percent in the first half of the year, news agency Interfax reported Wednesday, sapping a key source of tax revenues at a time when Russia can ill afford it. (The Moscow Times)

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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