Friday, 23 August 2013 Former Cyprus president Demetris Christofias walked out of a public enquiry into the causes of the island’s financial crisis Thursday, declining to answer questions before he had his say. The walkout was criticised by the… Read More ›
Nicos Anastasiades
Savers in Cyprus’ largest bank face losing a far worse-than-expected 60pc of their deposits over €100,000 as part of a €10bn EU bail-out deal struck this week.
Cypriot authorities confirm raid on big depositors By Nick Squires, Denise Roland, and agencies 9:13PM GMT 29 Mar 2013 Under the arrangement, depositors in Bank of Cyprus will receive shares in the lender worth 37.5pc of any savings over €100,000,… Read More ›
‘Risk of a euro exit by Cyprus is substantial’ – Moody’s
Moody’s Photo: EPA After a disastrous bailout of the Cypriot banking system, one of the world’s top rating agencies downgraded the sovereign rating of Cyprus. One of the concerns cited by Moody’s is the possibility of Cyprus leaving the eurozone…. Read More ›
Presidential anger leads to ashtray jibe: IMF Suggested a 60% Levy on Savings
Published on March 26, 2013 SOURCES with access to the Presidential Palace have confirmed that President Nicos Anastasiades at one stage did threaten to resign during tense negotiations with international lenders on Monday morning. Initial reports had Anastasiades telling International… Read More ›
TIMELINE: Bailout deal reached Cyprus: May take as much as 40 per cent
TIMELINE: Bailout deal reached Published on March 24, 2013 President Nicos Anastasiades in Brussels UPDATED 2.58am Cyprus and international lenders reached a draft deal in the early hours of this morning, which had to be approved by the… Read More ›
Tense in Cyprus, National Guard burns German Flags
Friday, 22 March 2013 Cypriot national guard soldiers have removed German flags from two building and burn them. The buildings housed German soldiers who are engaged in UN peace mission in Lebanon. Bank employees are protesting in Nicosia, earlier in… Read More ›
EuroGroup insists Cyprus must tax deposits
Photo: EPA The EuroGroup has rejected the Cypriot plan to raise billions of euros for addressing debt problems by nationalizing pension funds and issuing bonds backed by the promise of massive oil and gas profits. 0Reports say it continues to… Read More ›
Cyprus rescue in chaos as MPs reject bail-out
Nation could face bankruptcy within weeks after terms of £10bn package are voted down Charlotte McDonald-Gibson, Nathalie Savaricas Tuesday, 19 March 2013 Cyprus stood on the brink of bankruptcy tonight after its parliamentarians voted down a bailout deal that would… Read More ›
Cyprus savings levy: questions and answers : Levy will be on Average Balance, withdrawing money will not save you
All the issues, causes and consequences of a forced levy on savers at Cypriot banks as part of the eurozone rescue package Graeme Wearden guardian.co.uk, Sunday 17 March 2013 10.06 EDT People try to withdraw money from a cashpoint… Read More ›
Tomorrow, Cyprus could vote to leave the euro. This is political dynamite: “If Cypriot depositors are forced to pay today, why not Spanish ones tomorrow “
By Mats Persson Economics Last updated: March 17th, 2013 There are two ways to look at the hugely controversial bailout agreed for Cyprus in the early hours of Saturday morning, in which the small island nation – accounting for only… Read More ›
Cyprus baulks at painful EU bailout terms: ” I don’t think the banks will open if the bill isn’t passed “
17 Mar 2013 NICOSIA (AFP) Cyprus postponed an emergency debate in parliament on a controversial EU bailout on Sunday, threatening a prolonged closure of the island’s banks as MPs baulk at an unprecedented tax on savings. Fellow eurozone countries and… Read More ›
Cyprus: panic as savings levy is imposed
Cypriots rush to ATMs before savings are docked as part of a bailout deal agreed in Brussels Paul Gallagher and Helena Smith guardian.co.uk, Saturday 16 March 2013 15.14 EDT Cyprus’s rightwing leader Nicos Anastasiades believes his country will default following… Read More ›
EU economy commissioner warns over Cyprus euro exit
Cyprus’s new President Anastasiades stands next to his predecessor Christofias at the presidential palace in the capital Nicosia. AFP Sunday, Mar 03, 2013 BERLIN – European Economic Affairs Commissioner Olli Rehn has warned that debt-riven Cyprus could exit the… Read More ›
Engineering Evil 