WORLD ECONOMIC & MARKET DEVELOPMENTS
GREECE: In their teleconference y-day, Euro Working Group (EWG) members reportedly warned Greece’s representatives that a comprehensive agreement with official creditors has to be reached by the end of next week so as to ensure that the pending loan tranche will be disbursed by the end of June. On the data front, the Economic Sentiment Indicator for Greece dropped in May for the sixth month in a row coming in at 91.4, the lowest since December 2013, from 92.7 in the prior month.
CYPRUS: The Economic Sentiment Index (ESI) eased to 103.4 in May down from 107.3 in April.
SOUTH EASTERN EUROPE
BULGARIA: The Economic Sentiment Index (ESI) improved to 104.4 in May for a second consecutive month.
ROMANIA: The Economic Sentiment Index (ESI) edged further up to 103.2 in May from 103.0 in April
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