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Daily Archives: March 25, 2013

Anastasiades: Temporary capital restrictions, prosecutors to seek those responsible for the crisis

Cyprus president Nicos Anastasiades spoke to the nation on Sunday evening and in a televise address he tried to explain the 10-billion-euro bailout deal that will shut down the second large bank of the country and leave owners of more than 100,000 euro in bank deposits poorer at estimated 40 percent. Anastasiades …

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Dijsselbloem to Cyprus template: ” ehm …what I meant to say was…”

After the outrage and crash of the Euro and the stock markets, Jeroen #DieselBoom or “Flip Flop Boom” for internet users but  Dijsselblom to his EURO collueagues, realeased a  statement in an attempt to calm down the nerves of economists and savers. Statement by the Eurogroup President on Cyprus “Cyprus is a …

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German Stammtisch-humor: Merkel’s Envoy Otto Rehhagel arrived in Athens

It must be humor. German humor around the traditional Stammtisch* with Alte Herren* and the whole associated mentality. A humor that other EU citizens may find hard to understand. Hours after Germany re-confirmed its predominance in the Eurogroup and the Euro Zone, former football trainer Otto Rehhagel arrived in Athens. As …

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UPD Central Bank: all banks in Cyprus to open again Mar 28/2013

All banks in Cyprus will remain closed until Thursday, March 28th 2013, local and international media (AP) reported on Monday late evening. The decision was taken by finance Minister Michalis Sarris after a recommentation by the governor of Central bank. Earlier, on Monday afternoon media had reported, all banks on …

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Rhodes parade: protester punches police chief, woman stabs city council member

Independence Day parade on the islands of Rhodes turned bloody. A woman stabbed a member of the city council, while a protester punched the local police director right in the face. According to local news portal rodiaki.gr, the incidents started with a group of protesters verbally attacking local and regional …

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German FinMin Schaeuble: “Banks closure limited capital flight from Cyprus”

“The Cyprus deal is a ‘fair’ agreement that lies on the German position,” finance minister Wolfgang Schaeuble said during a press conference in Berlin on Monday, after returning from Brussels. “Europe is in solidarity, Europe remains in solidarity. But you have to remove the causes that lead to such a crisis. …

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Last minute rescue: painful Cyprus deal, bankruptcy averted, depositors cry

Hours of tough negotiations between Cyprus and international lenders ended in a deal at 2 a.m. on Monday morning. President Nicos Anastasiades and the head of European Union, European central Bank and International Monetary Fund agreed to a hefty haircut for deposits above 100,000 euro at Bank of Cyprus and …

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