18/09/2014 07:32
The major issue in today’s financial press is the meeting of the President of the Republic with the leaders of PADYSDY, OELMEK, OLTEK and POED this morning in an effort to lift strikes tomorrow against the taxation of the lump sum.
The “Economy” inset of newspaper “Phileleftheros” refers to the 12hour warning strike in the public sector tomorrow at 7.00 am. As noted, the elementary schools and the schools of secondary education will remain closed while hospitals will use their security personnel. However, the strikes are subject to the results of today’s meeting between the President and the leaders of PASYDY, OELMEK, OLTEK and POED.
Elsewhere the newspaper reports that according to an IMF report, there was a cumulative decline in savings by 48.03% of GDP in 2008-2013.
Other headlines:
-Let’s exceed ourselves for an exit from the MoU – N. Anastasiades
-Capital hole of €700m ahead in Cypriot banks
-ECB: Offer of cheap liquidity to banks from today
The “Economy” inset of newspaper “Politis” refers to the contacts of the Finance Minister with the trade unions yesterday, in an effort to lift strikes on Friday against the taxation of the lump sum. As noted, SEK and PEO decided to lift strikes in the semi-governmental organizations and the local administration after the meeting with the Minister, during which it was clarified that the lump sum will not be taxed but the way of its payment will be changed. On the other hand, PASYDY and the educational organizations were not satisfied by the meeting will not lift strikes.
“Politis” also reports that the two agreements for the allocation of governmental guarantees to Bank of Cyprus and Hellenic Bank for a loan of €50 million and €35 million respectively by the European Investment Bank will be signed tomorrow.
Other headlines:
-Contacts in Frankfurt for stress tests – Final results to be announced in late October
-Not convinced by referral – Parties reject government’s positions
-No new aid for Greece needed – Gikas Hardouvelis
-CSE down 1.16%
The newspaper ‘Simerini” refers to the meeting of the Finance Minister with the General Secretary of PASYDY, Galfkos Hadjipetrou yesterday in an effort to lift strikes on Friday against the taxation of the lump sum. According to the report, Mr. Hadjipetrou stated after the meeting that nothing has changed. The big difference between the two sides lies in the way they perceive and interpret the lump sum. The government talks about a bonus, thus legitimating any cutback.
The “Economy” inset of the newspaper refers to the start of deliberations for the stress tests next week between the ECB, the CB and the Cypriot commercial banks participating in the tests. Sources told the CNA that deliberations will start next week in the presence of ECB, CB and commercial banks officials in Frankfurt and will last until the end of October, when the results will be published.
Other headlines:
-Highly political issue, FINMIN says – President’s referral without arguments, parties say
-The cuts in the public-private sector
-Cheap loans from ECB
-Eurostat: Small increase in inflation in Cyprus in August
The “Economy” inset of newspaper ‘Haravgi” refers to the 12hour warning strike of the public employees on Friday. According to the report, after the meeting of the Finance Minister with the leaders of SEK and PEO yesterday, the latter will propose to their members the lifting of strikes. Today at 10.00 am, the leaders of PASYDY, OELMEK, OLTEK and POED will meet the President of the Republic.
“Haravgi” also highlights that the parties will proceed with the re-enactment of laws on foreclosures approved by the Parliament, but not signed by the President of the Republic.
Other headlines:
-Georghadji defies institutions
-First in cuts and austerity
-Governmental guarantees in BOCY and HB
-Banks – ECB deliberations for stress tests
The “Economy” inset of newspaper “Alithia” refers to Moody’s forecasts on the Cypriot banks. According to the agency, the Cypriot banks will need €700 million in new funding. The main scenario of the agency estimates contraction in the next two years from 4.1% in 2014 to 2% in 2015. It is noted that contraction may continue in 2016.
Elsewhere the newspaper reports that according to Eurostat data, inflation in Cyprus stood at 0.8% in August from 0.9% in July.
Other headlines:
-Governmental guarantees for bank loans – BOCY-HB
-Disposal of Cypriot coins issued 2014
-Cheap liquidity by ECB
-Contribution of 1.5% for medical care by semi-governmental organizations
The “Economy” inset of newspaper “Phileleftheros” refers to the 12hour warning strike in the public sector tomorrow at 7.00 am. As noted, the elementary schools and the schools of secondary education will remain closed while hospitals will use their security personnel. However, the strikes are subject to the results of today’s meeting between the President and the leaders of PASYDY, OELMEK, OLTEK and POED.
Elsewhere the newspaper reports that according to an IMF report, there was a cumulative decline in savings by 48.03% of GDP in 2008-2013.
Other headlines:
-Let’s exceed ourselves for an exit from the MoU – N. Anastasiades
-Capital hole of €700m ahead in Cypriot banks
-ECB: Offer of cheap liquidity to banks from today
The “Economy” inset of newspaper “Politis” refers to the contacts of the Finance Minister with the trade unions yesterday, in an effort to lift strikes on Friday against the taxation of the lump sum. As noted, SEK and PEO decided to lift strikes in the semi-governmental organizations and the local administration after the meeting with the Minister, during which it was clarified that the lump sum will not be taxed but the way of its payment will be changed. On the other hand, PASYDY and the educational organizations were not satisfied by the meeting will not lift strikes.
“Politis” also reports that the two agreements for the allocation of governmental guarantees to Bank of Cyprus and Hellenic Bank for a loan of €50 million and €35 million respectively by the European Investment Bank will be signed tomorrow.
Other headlines:
-Contacts in Frankfurt for stress tests – Final results to be announced in late October
-Not convinced by referral – Parties reject government’s positions
-No new aid for Greece needed – Gikas Hardouvelis
-CSE down 1.16%
The newspaper ‘Simerini” refers to the meeting of the Finance Minister with the General Secretary of PASYDY, Galfkos Hadjipetrou yesterday in an effort to lift strikes on Friday against the taxation of the lump sum. According to the report, Mr. Hadjipetrou stated after the meeting that nothing has changed. The big difference between the two sides lies in the way they perceive and interpret the lump sum. The government talks about a bonus, thus legitimating any cutback.
The “Economy” inset of the newspaper refers to the start of deliberations for the stress tests next week between the ECB, the CB and the Cypriot commercial banks participating in the tests. Sources told the CNA that deliberations will start next week in the presence of ECB, CB and commercial banks officials in Frankfurt and will last until the end of October, when the results will be published.
Other headlines:
-Highly political issue, FINMIN says – President’s referral without arguments, parties say
-The cuts in the public-private sector
-Cheap loans from ECB
-Eurostat: Small increase in inflation in Cyprus in August
The “Economy” inset of newspaper ‘Haravgi” refers to the 12hour warning strike of the public employees on Friday. According to the report, after the meeting of the Finance Minister with the leaders of SEK and PEO yesterday, the latter will propose to their members the lifting of strikes. Today at 10.00 am, the leaders of PASYDY, OELMEK, OLTEK and POED will meet the President of the Republic.
“Haravgi” also highlights that the parties will proceed with the re-enactment of laws on foreclosures approved by the Parliament, but not signed by the President of the Republic.
Other headlines:
-Georghadji defies institutions
-First in cuts and austerity
-Governmental guarantees in BOCY and HB
-Banks – ECB deliberations for stress tests
The “Economy” inset of newspaper “Alithia” refers to Moody’s forecasts on the Cypriot banks. According to the agency, the Cypriot banks will need €700 million in new funding. The main scenario of the agency estimates contraction in the next two years from 4.1% in 2014 to 2% in 2015. It is noted that contraction may continue in 2016.
Elsewhere the newspaper reports that according to Eurostat data, inflation in Cyprus stood at 0.8% in August from 0.9% in July.
Other headlines:
-Governmental guarantees for bank loans – BOCY-HB
-Disposal of Cypriot coins issued 2014
-Cheap liquidity by ECB
-Contribution of 1.5% for medical care by semi-governmental organizations
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