Thomsen sees trouble ahead for emerging Europe
DUBROVNIK (Reuters) – Emerging Europe is facing increasing economic stresses that threaten to unwind some of the political progress made over the of past decades, a top International Monetary Fund official said yesterday. Poul Thomsen, the head of the IMF European Department, said central and eastern Europe’s economic growth potential has halved in the past decade and the rapid outflow of skilled workers is an increasing drag. He noted at a conference in Dubrovnik that some governments in the region are even questioning the benefits of European integration. Thomsen, who has led IMF programs with countries such as Greece and Portugal, also noted that the exceptional support from a benign global
Cosco-OOIL. Cosco Shipping Holdings has submitted a $6.3 billion bid to take over Orient Overseas International (OOIL), aspiring to create the world’s third largest scheduled container shipping company. That move, if completed, promises to indirectly boost trading prospects for Piraeus as well, Cosco sources told Kathimerini.