You are here

Press: No divestitures no tranche

16/07/2014 07:55
The major issues in today’s financial pres are the starts of the troika’s contacts for the fifth assessment of the Cyprus program and the meeting of the President of the Republic with the ECB President, Mario Draghi today.

The “Economy” inset of newspaper “Phileleftheros” refers to the meeting of the Finance Minister and the CB Governor with a team of troika’s technocrats for the fifth assessment. As noted, in their first meeting the troika expressed their irritation for the delay in relation to the legislation about the sale of assets of large debtors and the preparation of the insolvency framework. These two delays under the weight of €27 billion of the non-performing loans which are constantly increasing are expected to hinder the release of the sixth tranche.

Elsewhere the newspaper reports that the government throws the ball to the troika on the repayment of 75% of the provident fund of the employees deposited in Laiki Bank and Bank of Cyprus.

Other headlines:

-Troika satisfied at first sight for EEE

-100 “impaired” Greek depositors to international courts

-Deputy Tax Superintendent in deep waters

-Capital increase in three phases - BOCY

The “Economy” inset of newspaper “Politis” refers to the start of the fifth assessment of the memorandum by the troika. According to the report, the fact that the bill for private divestitures and the hastening of the estate foreclosures was not approved did not go unnoticed. The delay was discussed between the troika and the Finance Minister and the CB Governor.

“Politis” also refers to today’s meeting of the President of the Republic with the ECB President, Mario Draghi.

Other headlines:

-Troika contacts with organizations

-Incentives for development and SMEs funding

-Capital increase in three phases – BOCY

-New slight decline in the CSE

The “Economy” inset of newspaper “Simerini” refers to the meeting of the troika with the SEK and DEOK. According to trade unionists Nicos Moiseos of SEK and Diomides Diomidous of DEOK, the creditors are seeking the proper balance for the protection of the main residence on the one hand and the restraining of the non-performing loans on the other. The troika, they said, is seeking to find solution via talks with the government.

The newspaper also reports that Cyprus Airways are turning to search for strategic investor or financial investors.

Other headlines:

-Anastasiades to meet Draghi today

-BOCY: Capital increase in three phases

The “Economy” inset of newspaper “Haravgi” refers to the start of the procedure for the submission of applications for the minimum guaranteed income announced by the Labour Ministry. According to the report, the lowly-paid pensioners must submit an application by September 8 and the state aid receivers by August 11.

“Haravgi” also reports that AKEL Euro MP, Neoclis Silikiotis, stressed the need to support the SMEs, speaking on behalf of GUE/NGL.

Other headlines:

-The new demands of the troika for sixth tranche

-DISY: CB directives to become a law

-Anastasiades – Draghi meeting

The newspaper “Alithia” refers to the meeting of the President of the Republic with the ECB President, Mario Draghi in Frankfurt. The meeting will focus on ELA, the NPLs and the stress tests.

The “Economy” inset of the newspaper refers to the meeting of the Finance Minister and the CB Governor with the heads of the troika. According to the report, the creditors seem to focus on the high percentage of non-performing loans and requested effective and quality measures for the divestitures.

Other headlines:

-Presentation of the plan for the university campus to the troika

-“Impaired” Greeks against Cyprus

-Business link between Cyprus and S. Africa