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CEE banks: a quake in Lithuania…
Another European bank in need of a rescue. This time it’s a small bank in a small country but the Lithuanian government’s surprise decision to take control of Bank Snoras will have officials elsewhere...
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Czechs and CEE: all in it together
The Czech economy contracted in the third quarter, falling by 0.1 per cent compared to the second as all elements of demand slowed, according to the central bank. This was the Republic’s first...
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Lithuania’s central bank: ready to act
These are desperate times and central banks all over the world are turning to extraordinary measures to pump liquidity into ailing banking systems. Lithuania’s central bank is no exception. On Tuesday...
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Lithuania: not as bright as it seems
The mood turned sour again on European markets on Monday, as fresh worries about Greece rattled investors’ nerves. But that didn’t stop Lithuania getting a one-year bond auction away at a pretty...
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CEE has fracking potential, says KPMG
Bulgaria (and France) may have moratoriums on it, lawyers may make a mint on it, Gazprom chiefs may curse it, and wells may cost three times the US price to get at it – but shale gas development in...
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CEE nuclear power: deeper in doubt
Nuclear power has long held the possibility of energy independence for central Europe, freeing it from its heavy reliance on imports of Russian natural gas. But a series of political and corporate...
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Estonia: path to growth via austerity defies eurozone doubters, and Krugman
Economic growth of 3 per cent in the eurozone? It sounds like a statistical error at a time when the common currency area is braced for a 0.4 per cent drop. But Estonia is set to record a 3 per cent...
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Lithuania seeks buyer for bust bank
Lithuania’s central bank is moving quickly to clear up the country’s latest banking collapse after Ukio Bankas, the country’s sixth-largest lender by assets, was declared insolvent and had its licence...
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Lithuania: banking sector returns to normal with Ukio rescue
Most clients of the failed bank, Ukio Bankas, Lithuanian sixth-largest lender by assets, received some good news this week – they can access their bank accounts once more. It was the latest development...
View Article[snap] Fitch upgrades Lithuania to BBB+
Good news for the Baltic state of Lithuania. One of the three major ratings agencies, Fitch, has upped the rating of its long-term foreign-currency sovereign debt to an investment grade of BBB+. This...
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Hungary, Lithuania, Latvia leave EC excessive deficit procedure; not so Poland
Time to loosen those belts, as the European Commission let a host of CEE countries out from under its excessive deficit procedures – evidence that Brussels is keen on boosting growth. Hungary, Romania...
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Air Lituanica takes to skies in turbulent European market
When your neighbours’ aviation businesses are struggling to survive, you would, probably, postpone the launch of a new carrier in your own country. But Lithuania has proved that it is ready to take a...
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Lithuania: fracking gets trickier
Shale gas and oil have more than usual appeal for Lithuania, where the government is eager to reduce its dependence on imports from Russia. But a combination of environmental protests and government...
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EC to Russian border guards: back off
Or not. The European Commission has upped the stakes in its ongoing face-off with Vladimir Putin’s Russia. On Wednesday it told Russian border guards to stop “punitive” searches of cars and lorries...
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Russia: now picking fight with Lithuania as summit nears
Onishchenko: he say no Yet another conflict is brewing between Russia and one of its post-Soviet neighbours. On Monday Russia’s consumer protection agency announced it had halted dairy imports from...
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Chevron to Lithuania: no, thanks
Chevron, the US oil major, has decided to pull out at the final stage of a tender for shale gas exploration and production rights in Lithuania, in what is a big blow to the country’s efforts to reduce...
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EBRD CEE prospects: Russia’s a bit of a drag
A mixed picture for the prospects of an economic recovery emerging Europe, according to Monday’s forecast from the European Bank of Reconstruction and Development. The EBRD found that the more advanced...
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Poland’s PKO BP: eyeing Lithuania?
Rumours have been rife in Vilnius for months that PKO BP, Poland’s state-owned bank, the country’s biggest, is preparing an entry into Lithuania’s banking sector. Should we take the rumours seriously?
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Front-line Baltics keep a wary eye on Crimea
By Mike Collier of bne in Riga With the Russian military heading westwards in a move similar to the ”invited annexation” that saw Estonia, Latvia and Lithuania lose their independence in 1940, it’s...
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European LNG: political wish but economic pipedream?
Even prior to Russia’s invasion of Crimea, energy security was a hot buzzword in Europe. But while many of the continent’s leaders frequently called for reduced dependence on Russia and greater...
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