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Daily Archives: March 20, 2013

Cypriot banks to open again on Mar 26/2013 – Plans for capital restrictions

Banks will open again on Tuesday, March 26th 2013, Central Bank of Cyprus said Wednesday evening in a statement. This regulation will affect also the Cypriot banks subsidiaries in Greece: Bank of Cyprus, Popular (Laiki) Bank and Hellenik Bank. Also Greek Finance Minister Yiannis Stournaras confirmed that the Greek subsidiaries …

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Turkish research vessel “Bilim 2” violates Greek sovereignty

Turkish oceanographic research vessel “Bilim 2” set sail and started research in the waters between the islands of Rhodes and Kastelorizo, in South Eastern Greece. Reason enough for Athens to protest, even though Greece has failed so far to declare its own Exclusive Economic Zone (EEZ). Even though the relevant maritime …

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Granny knew about Cyprus bank deposit levy …in advance

A grandmother, resident of Paphos in Cyrpus, had recently developed a habit: every Friday, she would go to a bank branch and withdraw all her savings. On Monday, she would bring it back. After this happened on several weekends, the bank employees could not resist and asked the granny why she …

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Council of State: SDOE freezing assets? Against Constitution…

The Council of State, Greece’s highest administrative court, has deemed unconstitutional a law allowing the Financial Crimes Squad, known as SDOE, to freeze bank accounts, shares and properties of suspects linked to cases of large-scale tax evasion, smuggling and other financial crimes. The court further ruled that the law was …

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Official Eurogroup Statement on Cyprus Vote

“Statement by the Eurogroup President on Cyprus I take note of the decision of the Cypriot parliame nt on the government’s proposal for a one-off stability levy. I confirm that the Eurogroup stands ready to assist Cyprus in its reform efforts and reiterate the position of the Eurogroup as I stated …

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