Archive for March, 2013

Money confiscated as people try to flee Cyprus with 1,000’s in cash

The hunt is on to find ways to circumnavigate the new draconian capital controls in Cyprus and get money off the island.

At least three people have attempted to flee the island in recent weeks with more than €200,000 in …

Sir Stelios and Easy Jet

Clearly, the airline is vastly different from the one that Sir Mike inherited when he joined the board in the summer of 2009 – becoming chairman six months later, on January 1, 2010.

The company’s fortunes are vastly improved, its

‘Cypriot government agencies should be held accountable

The Bank of Cyprus announced that major depositors will receive about 40 percent of their money shares, and the rest will be frozen. Finance blogger Karl Denninger says the problem is not the stolen money, but the government that enacted …

Central Bank clarifications on Cyprus Banks

The Central Bank of Cyprus has issued on Saturday clarifications for the better understanding of the resolution measures implemented under the Resolution of Credit and Other Institutions Law, 2013 at the Bank of Cyprus and Laiki Bank. In its press …

Restructured BoC ready to support Cyprus economy

Cypriot Finance Minister Michalis Sarris said on Saturday that the restructured Bank of Cyprus (BoC) the largest bank of the island, is ready to fulfill its role in the economy.

He further expressed the point of view that Cyprus’ financial …

Own goal helps United move closer to title

Manchester United edged closer to their 20th league title when a Titus Bramble own goal gave them a 1-0 win at Sunderland on Saturday to keep them 15 points clear of Manchester City with eight Premier League games to go.…

Omonia six of the best

Omonia enjoyed an emphatic 6-0 win against Nea Salamina today on a day when an abundance of goals were scored in the Cyprus first division. The comfortable win cements the ‘Greens’ place in the top four. Alki and Ethinicos Achnas …

Cyprus is a special case

German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a “special case” and not a template for future rescues.
In an interview with Bild newspaper published on Saturday, Schaeuble distanced …

Crisis offers opportunity to heal Cyprus division

Chris Morris asks if the Cyprus crisis could be an opportunity to heal the division between the island’s Greek Cypriots and Turkish Cypriots

“I was born in 1951 in this walled city,” says Semari Asik, “and I’ve lived here all …

Bank of Cyprus big depositors could lose up to 60%

Bank of Cyprus depositors with more than 100,000 euros (£84,300; $128,200) could lose up to 60% of their savings as part of an EU-IMF bailout restructuring move, officials say.

The central bank says 37.5% of holdings over 100,000 euros will …