Eurasia

Standard and Poor’s downgraded Croatia’s credit rating to junk on Friday, a development deemed “catastrophic” by a local analyst.”The Croatian government’s reforms have so far been insufficient to eliminate the structural rigidities that hamper the country’s growth potential,” the rating agency said in a statement explaining its decision to lower …

The Macedonian opposition has blocked the adoption of the national budget for next year, as it battles with the government over proposed loans.Parliament’s Commission on Financing and Budget is blocked with over 1,200 amendments submitted by the opposition Social Democrats, SDSM. This makes it uncertain whether the commission will have …

Following last autumn’s “state of the Union” speech, that outlined a vision for a federal Europe[1], the “Blueprint for a deep and genuine economic and monetary union”, unveiled recently by José Manuel Barroso, president of the European Commission, to be submitted at the December 2012 European Union Summit and debated …

Security Ministry organises destruction of a ton of various narcotics worth 10 million euro in the first organized mass destruction of narcotics since the war.Around a ton of different narcotics, mostly marijuana and heroin, were burned in incinerators in the southeastern town of Gacko on December 13. Prior to destruction, …

Aleksandar Vucic can expect a ratings boost from the detention of Delta’s powerful boss – but the real test will be the follow-up in the courts.The arrest of tycoon Miroslav Miskovic is a major coup for Serbia’s governing Progressive Party and its combative leader, Aleksander Vucic, commentators agree. But while …

The Croatian local courts need to prosecute those responsible for war crimes that took place in Croatia, EU official says.According to the Head of EU Delegation to Serbia, Vincent Degert, local courts in Croatia need to prosecute those responsible for war crimes committed during the Croatian military operation Storm in …

Data published on Thursday by Albania’s National Institute of Statistics, INSTAT, show that in the 2011 census ethnic minorities make less than 1.5 per cent of the population.According to INSTAT the ethnic Greek minority now accounts for only 0.87 per cent of the population, ethnic Macedonians make up 0.2 per …

Changes to the city statute will allow it to buy and sell land and pave way for decentralisation of powers to municipalities.By the end of the year the City of Belgrade is to amend its statute in accordance with laws adopted after the statute was issued in 2008. Danilo Basic, …

The trial of the Bosnian Serb leader, Radovan Karadzic, has continued with the testimony of the former president of the Serb Municipality of Novo Sarajevo, Milorad Katic.Testifying on Thursday, Katic said that there were no expulsions of non-Serbs from the Sarajevo neighbourhood of Grbavica from March 1993. Katic said that …

Bosnian dairy farmers ask for more help in achieving EU standards as main trading partner Croatia prepares to enter the European bloc.Milk producers in Bosnia met officials from the country’s Foreign Trade Ministry and Foreign Trade Chamber on Tuesday and urged them to help harmonize domestic product standards with EU …