According to the study by the European School of Management and Technology (ESMT) in Berlin, 210 billion euros of bailout money was channeled to the Eurozone credit sector and not in Greece’s state coffers, says the report, published in German financial newspaper Handelsblatt on Wednesday. Source: Greek Reporter
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The International Monetary Fund increased its estimate for China’s average annual growth rate through 2020, while warning that it would come at the cost of rising debt that increases medium-term risks to growth. China’s economy will expand at an average pace of 6.4% annually from 2017 through 2020. Source: China Economic Review
Israeli media are reporting that Iran is building a factory in northwest Syria to manufacture long-range rockets. The Times said Iran was also helping Hizballah build subterranean factories in Lebanon to make Fateh-110 medium-range missiles. Source: RadioFreeEurope
China urged the US and North Korea to urgently “put the brakes” on provocative actions and words on Tuesday after North Korean leader Kim Jong Un appeared to back away from a threat to fire missiles toward the US Pacific territory of Guam. Source: CNN