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Daily Archives: March 27, 2013

Five billion euro in cash arrived in Cyprus per airplane from Frankfurt

Hundreds of millions of euro bank notes arrived to Cyprus per airplane, Cypriot media reported.  The plane had taken off from Frankfurt and landed on the island in the afternoon. A huge police operation was staged to carry the bank notes and distribute them  to several banks on the island as …

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Poverty: Latvia, Bulgaria, Romania, Greece the poorest among EU27…

Latvia, Bulgaria, Romania and Greece top the list of the poorest countries among the 27-members of the European Union. According to a comparative survey conducted by the German Economic Institute (Wirtschaftsinstitut) in Cologne: Least poor citizens are in Scandinavian countries  Denmark, Sweden and Finland, but also in Luxembourg, the Netherlands and Austria. …

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Crash in Athens Stock Exchange: -7.20 % at 2:50 p.m.

For second consequent day Athens Stock Exchange felt the pressure of uncertainty over Cyprus. While the general index was suffering losses of -5.80% at 2:45 pm on Wednesday noon, it plunged down to -7.20% by 2:50 and ‘recovered’ at -6.20% five minutes later. I really can’t tell if the sell-off of …

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Cyprus president as “Figaro”: the crisis needs a leader (parody video)

Crisis of any kind can be eventually very inspiring. How much more when it comes to money and “poetic’ economic terminology like ‘haircut’.  OK, president Nicos Anastasiades may be not solely responsible for the crisis as he came to office end of February. But his negotiation skills with the Troika could …

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Cypriot FinMin “Uninsured Popular Bank depositors could face 80% haircut”

Russian roulette or just a normal spinning wheel in Cyprus’ casino? The first officials statements referring to the haircut  big deposit holders at Cyprus Popular Bank would undergo spoke of 30%. Then it was 40%. Now it looks that depositors will lose 80% of their money. Croupier Michalis Sarris spun …

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