Hypo Alpe-Adria-Bank International AG, Austria’s most costly bank failure, pushed up bad debt charges and writedowns as it found “skeletons in the closet” while speeding up its dismantling under European Union orders.
Darko Saric, a Montenegro-born Serb national wanted for smuggling tons of cocaine to western Europe and laundering the proceeds by investing in Balkan assets, surrendered to Serb police today, government said.
Greece should fight to stay in the euro region even if it defaults, said Montenegro’s Igor Luksic, prime minister of the former Yugoslav nation that unilaterally adopted the single currency almost a decade ago.
Etihad Airways from the United Arab Emirates, El Al Israel Airlines and Arkia Israel Airlines, have purchased the documents in a tender to buy 30 percent in Montenegro Airlines , Montenegro’s Deputy Finance Minister said.
Montenegro needs to slash its debts “significantly below” 60 percent of gross domestic product and make sure future borrowing goes to finance investments rather than pensions and wages, the World Bank said.