Posts tagged as money

Former Bank of Estonia governor on fiscal policy: There are no free lunches

Friday, October 23, 2020

The state budget relies too heavily on borrowed money and the planned deficit is too large which will cost Estonia sometime in the future, said Ardo Hansson, former governor of the Bank of Estonia, on ETV politics talk show “Esimene stuudio”. Any estimations for the future must assume that next year will be better than the current one and that the virus will not cause further closures, Hansson said. The…

Third of Lithuanians feels anxious about money, survey shows

Thursday, October 15, 2020

Thirty-nine percent of Lithuanians feel anxiety about their financial situation every day, a survey has found. The anxiety adversely affects relations with family members, health and productivity at work, they said. One in six respondents reported feeling no anxiety about their financial situation and 7 percent said they were fully satisfied with their finances, according to the survey commissioned by the Institute of Finance at Swedbank Lithuania. “A mere 7…

Lithuania ‘cooperating’ with Denmark in Danske Bank money laundering investigation

Friday, September 25, 2020

Lithuania’s central bank says it is cooperating with Danish law enforcement in investigation into potential money laundering at Danske Bank’s operations in the country. “We are closely watching all information related to the possible participation of financial institutions in Lithunia in money laundering” and are “cooperating with the Danish colleagues”, the central bank told BNS. As part of FinCEN banking leaks, the International Consortium of Investigative Journalists (ICIJ) has revealed…

Lithuanian hospitals on Covid-19 frontline get €50m injection of EU money

Thursday, August 27, 2020

The Lithuanian government has allocated over 50 million euros in EU funds for the country’s major hospitals and other healthcare institutions on the frontline of dealing with the Covid-19 pandemic. The decrees signed by Health Minister Aurelijus Veryga allow the hospitals to use the money to purchase new equipment, such as lung ventilators, functional beds, X-ray machines and other medical instruments and protective equipment, or reimburse them for earlier acquisitions.…

Too much money from EU would be harmful to Lithuania, MEP says

Friday, July 17, 2020

The European Union’s stimulus funding may do more harm than good to Lithuania, which has no plan how to effectively invest the money, and may lead to more inequality, according to Lithuanian MEP Aušra Maldeikienė. Lithuania is looking to get 6.3 billion euros from the EU’s post-coronavirus recovery fund, 3.9 billion in subsidies and 2.4 billion in loans. In all, the European Commission has proposed measures worth 1.85 trillion euros…

Comprehensive approach is necessary to fight money laundering in EU

Thursday, July 9, 2020

The European Commission has made a clear commitment to deliver a comprehensive approach to fighting money laundering and terrorism financing, to better protect the European Union economy and financial system in the future, the European Commission’s Executive Vice-President Valdis Dombrovskis said at the European Parliament plenary debate on preventing money laundering and terrorist financing on July 8th. “The Commission fully shares the European Parliament’s view that it is high time…

Money, valuables taken in alleged fake gas check scam

Tuesday, January 14, 2020

According to the charges the crimes were committed from summer 2018 to summer 2019 when she was finally caught. She would apparently show up at apartments in Rīga alone, or together with another currently unknown associate, pretending to be an LG employee and asking to read the meter. While distracting the inhabitants she would steal anywhere from a few euros to 11,000 euros, as well as valuables such as jewellry.…

Chinese money connects Lithuania to Belarus’ nuclear plant

Tuesday, December 17, 2019

While Lithuania is putting all effort into isolating Astravyets’ nuclear plant , a Chinese state-owned company is a key contractor connecting the would-be facility to Belarus’  energy   grid. Yet, that same company owns an enterprise in Lithuania and takes part in strategic  energy   projects in the country,  LRT nvestigation  Team has found. Meanwhile, Belarus is pushing ahead with the project just 50 kilometres from Vilnius. Lithuania deemed the…

RNP municipal housing manager unable to tackle crisis situation in relation to money stored in PNB Banka – Burovs

Wednesday, November 13, 2019

The management of Rigas Namu Parvaldnieks (RNP) municipal housing manager is unable to tackle the crisis situation in relation to the money stored in the insolvent PNB Banka, Riga Mayor Olegs Burovs (Honor to Serve Riga) said. “The situation that there is a huge risk that, due to the activity of the company’s management, several thousands of residents will lose the money stored in PNB Banka is unacceptable and even…

Estonian TransferWise hires Netflix’s ex-chief financial officer

Saturday, July 20, 2019

Estonian-led financial transactions start-up TransferWise has announced expansion of its board of directors with the former chief financial officer of the American online television service Netflix, David Wells. It was announced on Thursday, July 18, by one of the firm’s founders Kristo Käärmann on the blog of TransferWise, an international money transfer provided established eight years ago. «So, I’m excited to announce that today we are appointing two independent non-executive Directors to…