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Press: BOCY warned since 2008

15/07/2013 08:42
The major issues in today’s financial press are the trade unions’ claim to Cyta for an investigation on the pension funds, the confidential document of Bank of Cyprus that warned for a deterioration of the market since 2008 and the extraordinary session of the House Finance Committee on Wednesday, which is expected to discuss the provident funds and the voluntary retirement plan of Bank of Cyprus.

Other issues concern the decree for the extension of the opening hours of the shops and the arrival of troika to Cyprus on Wednesday.

The newspaper “Phileleftheros” refers to the trade unions’ claim to Cyta for an investigation on the pension fund case. In a letter to the President of the Republic, the trade unions talked about corruption and requested his contribution.

The “Economy” inset of the newspaper refers to the preparations in the Finance Ministry and the Central Bank for troika’s arrival on Wednesday.

Other headlines:

- Mitsopoulos: CAIR will be saved with collective effort

- Omirou: Assessment reports harbingers of new measures

- Lamaris: New opening hours a headstone for medium shop keepers

- 25% increase in expenditure for tax discount

The “Economy” inset of newspaper “Politis” refers to the confidential document of Bank of Cyprus that warned for a deterioration of the market since 2008. According to the report, certain questions have been raised as to whether the bank informed investors on the real condition of its balance sheet and the risks that it faced.

“Politis” also reports that Bank of Cyprus ensured that the voluntary plan will not increase haircut.

Other headlines:

- TT goes to Eurobank

- No new taxes and salary cuts in Greece

The newspaper “Simerini” refers to the decree for the extension of the opening hours of shops. According to the report, the decree has split the market and reactions were both positive and negative. POVEK is examining taking legal measures.

The “Economy” inset of the newspaper refers to the extraordinary session of the House Finance Committee on Wednesday to discuss the provident funds and the voluntary retirement plan of Bank of Cyprus.

Other headlines:

- Depositor should not engage in cost

- New era for the Greek banking system

The newspaper “Haravgi” refers to the decree for the extension of the opening hours in shops. According to the report, the vast majority of shops remained closed yesterday while consumers did not respond to the government’s new call.

The newspaper “Alithia” refers to the purchase of two warships to monitor EEZ. According to the report, the Parliament said “yes” to the release of €100 million. The agreement of the purchase from Israel was made by Christofias government while the ships will be used for search and rescue. President of the Republic, Nicos Anastasiades said that the participation of Total in the search and possible exploitation of hydrocarbons in the Cypriot EEZ is discussed.

The “Economy” inset of the newspaper refers to the extraordinary session of the House Finance Committee on Wednesday to discuss the provident funds and the voluntary retirement plan of Bank of Cyprus.

Other headlines:

- IRD closed for upgrading

- TT goes to Eurobank