Greece will not accept a bailout deal without a concrete agreement for debt relief from the country’s European creditors, a top aide to Prime Minister Alexis Tsipras said, The Wall Street Journal reported. “We want real solutions, not interim solutions,” Nikos Pappas, Greece’s Minister of State, said in an interview Friday after several days of talks with senior U.S. officials. “No more kicking the can down the road.” Although Mr.

The Bank of England said Thursday that a vote to leave the European Union could slam the brakes on growth in the U.K., push up unemployment and stoke inflation, in its clearest warning yet about the potential economic costs surrounding a referendum on membership next month, The Wall Street Journal reported.

The foreign companies that hold more than 100,000 UK properties will have to reveal their true owners under a transparency proposal announced by David Cameron. The step was greeted by transparency campaigners as “a great move” and was aimed at energising an international summit on corruption being hosted by the prime minister on Thursday, the Financial Times reported. Mr Cameron pledged last year to stem the “dirty money” and “plundered or laundered cash” flowing into British properties, more than £120bn of which are owned by offshore companies.

Irish oil producer Petroceltic International Plc said a court examiner had selected its largest shareholder, Worldview Capital Management, to take control of the group. Petroceltic, which received a 3 pence per share offer from Worldview in February, said it expected to sign an investment agreement over the coming days which would result in Worldview owning the company, Reuters reported. The company was placed in examinership in March, a process under Irish law that is akin to Chapter 11 bankruptcy in the United States and administration in Britain.

An interim examiner has been appointed by the High Court to the department store chain, Debenhams Retail (Ireland) Ltd, which operates 11 stores in the Republic, the Irish Times reported. The move affects the jobs of 2,265 people, of whom 1,415 are directly employed by the business. Some 500 staff people work in concessions within Debenhams stores, with a further 320 are employed in cosmetics.

In Europe’s battle with the International Monetary Fund over Greece, Germany has a way to win, The Wall Street Journal reported. Germany, Europe’s dominant economic power, is leaning heavily on the IMF to accept hypothetical assurances that Greece’s debt burden will be addressed in the future if needed, rather than the definite and far-reaching debt relief that the IMF wanted, according to people familiar with the talks. Berlin believes the IMF will have to accept what’s on offer, even if IMF staff are unhappy about it, these people say.

Greece is invariably held up as Exhibit One in the case against the European Union. Its six-year debt crisis—now threatening to reignite right before a British referendum on EU membership—is often presented as proof that the EU is an anti-democratic, sovereignty-destroying, austerity-loving bully. But this narrative is wide of the mark, The Wall Street Journal reported in a commentary.

Romanian thermal power plant CET Govora entered insolvency after a decision of the Ramnicu Valcea Court yesterday, Romania-Insider reported. The company will be managed by the judicial administrator Euro Insol, led by insolvency lawyer Remus Borza, reports local Agerpres. The insolvency house is also responsible for Romania’s largest energy producer Hidroelectrica. CET Govora is the second biggest company in the Valcea county. The power producer lost EUR 30.5 million after state – owned chemical producer Oltchim entered insolvency, in January 2013.

Greece’s leader Alexis Tsipras on Tuesday claimed a major breakthrough in its debt-and-austerity talks, even as officials from Greece’s creditors warned that big obstacles remain to a deal that keeps the country afloat this summer, The Wall Street Journal reported. “After six years of continued cuts, bad news and harsh austerity, we finally had some good news,” Mr. Tsipras said in a televised speech to his cabinet. He said Greece was on course to get fresh bailout loans without having to legislate additional austerity measures.

Why is conventional German thinking on macroeconomics so peculiar? And does it matter? the Financial Times reported in a commentary. The answer to the second question is that it matters a great deal. A part of the answer to the first is that Germany is a creditor. The financial crisis has given it a dominant voice in eurozone affairs. This is a matter of might, not right. Creditors’ interests are important. But they are partial, not general, interests.