Tuesday , July 16 2024

Recent News

Greek singers cancel concerts in Cyprus due to banking crisis

That’s one aspect of the Cypriot banking crisis, an aspect unknown to the broader public. The cancellation of concerts scheduled to be given by Greek artists. With banks closed for almost a week, few Cypriots seem to feel like spending money for entertainment. Greek singers cancel one after the other …

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Greeks trapped, worry about wages & pensions as Cypriot banks remain closed

Thousands of Greek employees and pensioners with accounts in Cypriot banks in Greece worry about their money. “Will the Cypriots banks explode in my hands?” a  retired neighbor asked me last night. Several months ago,  he opened a bank account at the branch of a Cypriot bank in Athens, because …

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Athens: Cypriot banks employees protest outside Finance Ministry

Several hundreds employees at the three Cypriot banks subsidiaries in Greece staged a protest on Thursday morning outside the Finance ministry. Holding banners and shouted slogan, the employees demanded a meeting with minister Yiannis Stournaras. With the future of Cypriot banks in uncertainty, employees  worry about work places loss in …

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Irish MEP calls Olli Rehn to resign over Cyprus bailout fiasco

Nessa Childers, Member of the European Parliament from Ireland, called for Economic and Monetary Affairs Commissioner Olli Rehn to resign over the Cypriot bailout fiasco. For this reason, Childers wrote a letter to European Commission President Jose Barroso. In her letter dated March 19th, 2013, Childers writes: “Today I have …

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Cyprus got a Plan B: deposits “haircut” at lower rates than EU proposal?

The cabinet on Cyprus agreed on a “Plan B” on Wednesday night, local media reported. President Nicos Anastasiades will present the “Plan B” for the country’s banks bailout to political leaders on Thursday morning. Local reports suggested the government may submit a bill tomorrow proposing a haircut on deposits but at lower …

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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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Historic decision: Cypriots vote NO to bank deposits tax

With 39 votes against and 19 abstentions from Anastasiades’ ruling party, Cypriots said a historic NO to Eurogroup decision to charge with a levy bank deposits. Upon announcement of the rejecting decision protesters who had gathered outside the Parliament broke in to loud applaud. No one Cypriot MP voted in …

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