- Articles for Monday May 20, 2013
| IMF sees first Cyprus bailout loan this month To read the full article please click this link  WASHINGTON: The International Monetary Fund on Thursday said it would likely disburse its first bailout loan to Cyprus after next week's board meeting.
The IMF executive board is expected to discuss the bailout program for Cyprus on Wednesday, Fund spokesman Gerry Rice said at a regularly scheduled news conference...(...more) |
| Cyprus Bailout Revisited To read the full article please click this link  A couple months ago Cyprus sent a quake through the world financial system. What has Cyprus done for us lately?Given us an example of what a "bail-in" as unprincipled as previous bailouts looks like. Cyprus was supposed to be either a "one-off" or a "new template," depending on which European official you listened to...(...more) |
| Cyprus keeps limits on money flows To read the full article please click this link  NICOSIA, Cyprus -- Cyprus will keep limits on money transfers and withdrawals until it is more confident that its ailing banks will not face a run, the central bank's chief said Thursday.
Panicos Demetriades said the Central Bank of Cyprus wants to eliminate these controls as soon as possible, but it has to first make sure that trust in the banks has recovered sufficiently...(...more) |
| Cyprus Minister says Israel, Cyprus cooperation could impact gas market To read the full article please click this link  Only by combining their forces will Israel and Cyprus be able to make a significant dent in the global natural gas economy, the Cypriot energy minister stressed on Tuesday.“We feel that through a close collaboration with Israel we will be able to be a major player in the world energy market, something that for each country individually might be too hard to achieve,” said Energy, Commerce, Industry and Tourism Minister Yiorgos Lakkotrypis...(...more) |
| President of Cyprus in Israel: New partnership, old conflicts To read the full article please click this link  Recently-elected president of the Republic of Cyprus (RoC) Nicos Anastasiades, elected in January 2013, spoke at Tel Aviv University’s Faculty of Law Tuesday evening following an official visit that included meetings with both Prime Minister Benjamin Netanyahu and President Shimon Peres...(...more) |
| Gas discovery cements ties between Cyprus, Israel To read the full article please click this link  Cyprus and Israel cemented ties with the latest visit of President Nicos Anastasiades to Jerusalem.
Cypriot President Nicos Anastasiades said May 7 his country was the most reliable neighbor of Israel and the discovery of hydrocarbons in the Mediterranean Sea created new prospects for relations between the two countries...(...more) |
| Cyprus considered exiting the euro zone in March To read the full article please click this link 
By Howard Schneider, Updated: Thursday, May 9, 10:05 PM
Cyprus seriously considered dropping out of the euro zone at the peak of its financial crisis in March as it faced a standoff over the terms of an international bailout, Cyprus Foreign Minister Ioannis Kasoulides said in an interview in Washington on Thursday...(...more) |
| Christofias sues CyBC for calling him an ignoramus To read the full article please click this link  FORMER president Demetris Christofias is suing the state broadcaster claiming he had been called an ignoramus and a moron during a pre-presidential election interview with the current president.
Through the defamation suit, Christofias is asking for compensation between €100,000 and €500,000...(...more) |
| And so it begins... To read the full article please click this link  CYPRUS, it is said, never misses an opportunity to miss an opportunity. After its euro bail-out, that needs to change, not least for the sake of its battered economy. Cypriots face the grim reality that, thanks mainly to the collapse of much of their financial-services industry, GDP will shrink by 15% this year, another 15% in 2014, and perhaps 5% more in 2015 (see article)...(...more) |
| Bank of Cyprus executes depositor bail-in To read the full article please click this link  The so-called 'bail-in' forces savers to foot the bill for the recapitalisation of Cyprus' biggest bank, after it was hit by massive losses from its exposure to debt-crippled Greece.Bank of Cyprus said it had converted 37.5pc of deposits exceeding €100,000 into "class A" shares, with an additional 22...(...more) |