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Press: Indictments until March

22/01/2014 07:17
The major issues in today’s financial press are the meeting of the Finance Minister with the Board of Directors of Cyta, the third assessment of Cyprus by the troika which will focus on the loans and the House Institution Committee’s session yesterday which was informed by the Attorney General on the investigations for the collapse of the economy.

The “Economy” inset of newspaper “Phileleftheros” refers to the third assessment of Cyprus by the troika, which will focus on the loans. According to the report, a source at the headquarters of the EU considered the management framework of non-performing loans, personal and business, as a key for the developments, while it argued that many Cypriots do not pay their installments, waiting to see whether the bank will collapse.

Elsewhere the newspaper reports that according to Eurostat data, property prices fell 0.8% in the third quarter of 2013 compared to the corresponding period of 2012.

Other headlines:

-Coop development from insurance and cards

-Social pension to households with pensions of more than €2.000

-Cyprus first in shrinkage of banks

-Prosecutions on time – Attorney General wants time for completed investigations

The newspaper “Politis” reports that the House Institutions Committee was informed by the Attorney General yesterday on the course of the investigations for the financial crisis. According to the report, foreign experts will be called to contribute to the investigations, while there are cases that they will be led to courts.

The “Economy” inset of the newspaper refers to the meeting of the Finance Minister with the Board of Directors of Cyta yesterday. During the meeting, Mr. Georgiades said that the early retirement scheme must be improved in a way that will satisfy the concerns that have been expressed at the level of parliament, while on Saturday he will be meeting with the unions to ensure that the process of privatization will be implemented in a way that will maximize the benefit for the economy as a whole.

Other headlines:

-SEC decisions for BOCY shares

-No to double taxation – EU boosts free movement of persons

-Fewer banks in the euro area

-Gains of 1% in the CSE

The “Economy” inset of newspaper “Simerini” refers to the House Institutions Committee’s session yesterday, where the Attorney General gave a detailed description of the efforts made by the legal service in order to file the cases before the courts for the financial crisis.

The newspaper also highlights that according to SEC Chairperson, Demetra Kalogirou, the Bank of Cyprus share is off-floor for nine months now and it has no other option but to give an extension to the bank to submit the prospectus or its titles will be delisted.

Other headlines:

-The challenges of the society of citizens

-Who were exempted from the haircut

The “Economy” inset of newspaper “Haravgi” refers to the House Institutions Committee’s session, which was informed by the Attorney General on the investigations for the collapse of the economy. Attorney General, Costas Clerides requested more time for the investigations, while he asked by the members of the Committee to be exceptionally careful with their conclusions.

“Haravgi” also reports that the SEC is investigating complaints for violations in the banking sector.

Other headlines:

-Cyprus first in underemployment

-Rapid shrinkage of banks

-Emails out

-Moneyval: Laundering via Bulgaria

The “Economy” inset of newspaper “Alithia” refers to the meeting of the Chairperson of SEC with the Bank of Cyprus leadership on Friday. The bank’s leadership must convince the SEC for the extension of the suspension of trading of its titles o the CSE.

Elsewhere the newspaper reports that according to ECB data, banks in Cyprus fell to 103 in January 2014 from 409 in May 2004 (-74.8%).

Other headlines:

-Investigation of possible criminal responsibilities

-FINMIN: No decision for bills in BOCY yet

-Dramatic shrinkage in industry

-Ledra Coop with assets of €851m