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Press: “No” to the President

20/06/2013 07:23
The major issue in today’s financial press is the “no” that President Anastasiades received from the Eurogroup in his letter dated June 6 for the reorganization of the Cypriot memorandum.

The “Economy” inset of newspaper “Phileleftheros” refers to the “no” that President Anastasiades received from the Eurogroup in his letter dated June 6 for the full reorganization of the Cypriot memorandum. According to the report, the euro area officials established a negative climate, making clear that the change of the terms of the Cypriot memorandum is not an issue at the current stage.

Elsewhere the newspaper reports that the benefits and employees of the employees in the state engine will be cut from January 1, 2014.

Other headlines:

- Retirement plan at the end of June

- EU: Group for the support of Cyprus under Rehn

- CAIR: Structural moves for redundancies

- Tax incentives to businesses

The newspaper “Politis” reports that the Council of Ministers decided yesterday to cut further the benefits in the state service and the wider public sector. In fact, it will review the formula for overtimes.

The “Economy” inset of the newspaper refers to the Financial Times report according to which Cyprus is trying to review the bailout program. According to the report, the Cypriot government clarified that not only it seeks to change the memorandum but also is working for its disciplined implementation.

Other headlines:

- Statistical mistake – IMF responsibilities in Greece

- Optimism for the future – Intervention of executive chairman of Louis group

- Charges – For manipulation of Libor

- Small losses of 0.09% in the CSE

The “Economy” inset of newspaper “Simerini” refers to the statements of the European officials to FT newspaper and Reuters that through a letter President Anastasiades requested the renegotiation of the memorandum. The President stated yesterday that reports are not true.

The newspaper also highlights that the President of the Republic announced a number of measures with tax incentives for businesses.

Other headlines:

- The last hope – Trade unions meet the President today for CAIR

- Awaking for the upgrading of tourism

- CSE slightly down

- Talks on Anastasiades’ letter in today’s Eurogroup

The newspaper “Haravgi” reports that Brussels and Berlin said “no” to Mr. Anastasiades’ letter for changes in the program and lifting of restrictions in transactions.

The “Economy” inset of the newspaper refers to the problems emerging from the deliberations of ETYK with the management of Bank of Cyprus on the voluntary retirement plan. According to sources, the losses in the provident funds due to the haircut are not the only problem since the administration is negative to the allocation of additional compensations.

Other headlines:

- Irene Charalambidou wants criminal investigators

- Tsironis’ answer to Vgenopoulos

- The experiment failed, the President says!

- CSE slightly down

The “Economy” inset of newspaper “Alithia” refers to the tax incentives announced by the President yesterday during the annual general meeting of the Institute of Certified Public Accountants of Cyprus.

Elsewhere the newspaper reports that Bank of Cyprus will reduce its staff and branches by December.

Other headlines:

- K. Loizou: Talks for the upgrading of our tourist program

- GDP per capita dropped

- New officials of the Banks Associations

- Stock market with 20 transactions