The official data released by the Finance Ministry yesterday show the sharp increase in borrowing of the Cypriot state from the domestic banks. The total state debt accumulated in the banks’ books...
The domestic creditors sent an ultimatum to the government to consolidate the public finances and warned the Finance Minister that they will not refinance the Cypriot debt if they fail to do so....
16/11/2011
The Cooperatives will have to pass in their books accounting losses of €600 million due to their investments in Cypriot bonds. Although they largely avoided the Greek bonds, they are exposed to...
15/11/2011
Marfin Investment Group has reached a strategic understanding with the Abu Dhabi Mar / Privinvest Group in order to jointly pursue and exploit investment opportunities in Greece, Cyprus and the...
14/11/2011
Marfin announced on Friday the resignation of Iraklis Kounadis and the undertaking of its duties in Greece by Panayiotis Kounnis. Mr. Kounadis was Group Deputy Chief Executive Officer and Country...
11/11/2011
The revised bill for the state support of the banks in case of a crisis gives the Central Bank an enhanced role, restricting the sole discretion of the Council of Ministers and offering safety valves...
11/11/2011
The exposure of the domestic banks to government bonds stands at €3 billion, raising concerns to the bankers for the impacts from the depreciation in the value of bonds on their books. The figures...
10/11/2011
The Cooperatives turn their back to the public sector, terminating the allocation of new professional loans to the Central Agency for Equal Distribution of Burdens. According to a letter released...
09/11/2011
The substantive conclusion drawn from the downgrade of the Cyprus economy and the Cypriot banks is the loss of credibility of the Cypriot state and the Cypriot economy, Hellenic Bank CEO, Makis...
09/11/2011
Moody’s downgraded on Tuesday three Cypriot banks due to “the reduced ability of the country to support its large banking system”. The agency downgraded Bank of Cyprus and Hellenic Bank by one...