Turkey lowers base interest rate

The Turkish National Bank has lowered its base interest rate from 8.75% to 8.25% against the backdrop of improved liquidity in the country’s banking sector over the past months. In January the Turkish Central Bank increased the base interest rate to stop the depreciation of the Turkish lira against the USD and the Euro. Premier Recep Erdogan insists on lower interest rates in support of the economic growth. Financial experts claim that the base rates in this country could dwindle again in the months to come.

The Netherlands is responsible for the death of 300 victims in Srebrenica

Dutch peacekeeping forces are responsible for the massacre in Srebrenica and the death of over 300 people, a court in Netherlands has judged. According to the decree, the peacekeeping forces failed to defend the civilians when the town was occupied by the Serbian army in 1995. The Bosniaks who sought asylum in the base of the Dutch peacekeeping forces were later handed over to the Serbs. The mass murder in Srebrenica is regarded as the biggest one after the WW2. According to the decree issued by the court, the Netherlands has to take responsibility and pay compensations to the families of all 300 victims.

Romania still expects retribution of all repressed opponents of former state regime

For the first time after the collapse of the communism in Romania some twenty five years ago, a former head of prison was brought to court under charges of murders and tortures of prisoners who were once viewed as opponents of the former communist regime. According to survivors, the delay of the legal proceedings is a synical act of the new governments in Romania. “These criminals were left alone and many of them died. Now, some of the crimes are revealed which is of great importance”, says in an interview for Associated Press Octav Bjoza, Director of the Association of Former Political Prisoners. After the Romanian authorities pressed charges against the former prison superintendent, he said that people called him a criminal in the streets and described himself as victim.

Bad loans issue remains in Cyprus

Representatives of the European Union, the European Central Bank and the International Monetary Fund visited Nicosia to make inspection with regard to the ongoing financing provided to the Cyprus. The inspectors advised the government to take efficient measures aimed at solving the problem with the bad loans in this country. The bad loans are currently estimated at EUR 27.1 billion. The international creditors also insist that the government should start selling out properties. The country’s syndicates, however, insist that bank loan procedures should be simplified. The international creditors warned during past inspections that the anti-crisis program remained in force.

Tradesmen protest in Greece against shops open on Sunday

Greek consumers reacted positively to the pilot project which allows shops to work on Sundays. However, the decision of the state government caused protest amidst the trade associations. They raised the slogan: No more working on Sundays. The summer discounts already started in Greece and the shops at the Greek resorts are to be open on Sunday. The decision of the authorities allows the shops situated in historical centers in Athens and Thessaloniki, Halkidiki and some other islands to work on Sundays.

Albanian police holds operation against manufacturers of marijuana

The police in the Albanian town of Girokastra seized 260 kilograms of marijuana hidden in a van. The van driver sped up when he realized that he was chased by the Police. Later he crashed the vehicle into a house gate and ran away. According to the Albanian Police, the van departed from the village of Lazarat where a large-scale police operation is now being held. The village is regarded as a center of marijuana manufacture. The authorities seized from the region over 85 tons of marijuana within one month. The Albanian Police, however, suspects that the local population managed to hide some of the drugs in the nearby forests before the police operation.

English version: Kostadin Atanasov