Greek banks will ask investors to help plug a 14.4 billion euro capital shortfall, with billionaire Wilbur Ross saying the government should detail ownership plans for the nation’s lenders as they seek a second round of fundraising. The ECB asset-quality review identified 9.2 billion euros of valuation adjustments. Source: Bloomberg
Annual summits between China and central and eastern European countries are beneficial to the European Union as a whole, the Chinese government’s told Bulgaria’s foreign minister, brushing off concern that Beijing is seeking to divide the continent. Source: Reuters
European Union Trade ministers agreed on May 22 to begin free trade talks with Australia and New Zealand, a move that is aimed at demonstrating the bloc’s ability to form new alliances while trade tensions continue to grow with the administration of US President Donald J. Trump. Source: New Europe
BP has stopped work on the Rhum gas field in the North Sea, which it has a 50-percent stake in, sharing it with the National Iranian Oil Company. The company cited the reintroduction of U.S. sanctions against Tehran as reason for the suspension. Source: Oil Price
