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871. Former trustee says co-op sapped with impunity

Investigators in the probe into the collapse of credit unions in Cyprus heard testimony this week that political parties endorsed a sense of impunity among bank officials...

872. Odysseas says Harris was being stubborn

The auditor general is pointing fingers at the finance ministry’s handling of the Cyprus Cooperative Bank affair, telling an independent investigation committee that some actions were misleading...

873. Additional revenues of 4.7 billion euros needed to reach targets

The Greek government will have to collect additional tax revenues of 4.7 billion euros in the first post-bailout period of enhanced supervision (2018-2022) by its creditors, in order to achieve the agreed primary surpluses and record surpluses....

874. Shadows loom over government’s ‘clean exit’ scenario

Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....

875. Regling says Greece will remain linked to ESM

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling....

876. The mistakes of Greece’s creditors

A lot has been said about the mistakes made by Greece’s lenders during the bailout programs. The fact is they made many errors, including some serious ones. Meanwhile, Greek politicians were responsible for refusing to take ownership of the required reforms and failing to reach a degree of basic consensus. ...

877. Larnaca resident behind global online scam

A global network of online scammers has been dismantled, with the brain of the operation arrested in Larnaca in connection with €18 million worth of damages caused by internet fraud...

878. Unions okay with CCB severance package

Union employees at Cyprus Cooperative Bank have agreed to sign up on a severance package plan this summer, ahead of a takeover by Hellenic Bank, saying it can contribute to labour peace...

879. Holding referendums in FYROM and Greece

The Former Yugoslav Republic of Macedonia (FYROM) is moving ahead with preparations for its referendum on the name deal reached with Athens, which will pave the way for its induction to NATO and remove a major obstacle to the process for it to join the European Union....

880. Nissi Beach is CNN Travel's July pick

Nissi Beach is recommended this month by CNN Travel as one of a handful of global destinations for July beachgoers, certifying once more that Ayia Napa remains on the world map when it comes to beach summer fun...

881. Email phishing scams on the rise in Cyprus

The police cybercrime unit is warning the public of a money extortion scheme, following complaints from people who recently received threatening emails...

882. Moody’s says BoC better off after UK sale

Rating Agency Moody’s has described the sale of Bank of Cyprus UK as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on reducing its domestic high stock of problematic loans...

883. Russian tiger plane steals the show in Larnaca

A plane with the majestic face of a Siberian tiger landed at Larnaca International Airport on Sunday, known around the world for raising awareness for the protection of the Amur Tiger...

884. House prepares to define good and bad borrowers

The distinction between responsible and irresponsible borrowers is at the forefront of heated debate this week, with Presidential Palace and Parliament scrambling to strike balance ahead of a crucial vote...

885. AG names investigators to comb though co-op

A former judge, an economist, and a banker will make up the executive committee that will investigate any suspicious dealings that took place in the troubled Cypriot co-op...

886. Debt deal exceeded market expectations, Tsipras says

Greek Prime Minister Alexis Tsipras on Friday hailed the Eurogroup debt deal for Greece during a televised exchange with President Prokopis Pavlopoulos, referring to a "historic" agreement that exceeded the expectations of the markets....

887. ESM warns Cypriot banks of quick fixes

The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...

888. Cyprus to crackdown on shell companies

The Central Bank of Cyprus has just made it harder for brokers to set up front companies on the island, following pressure from US officials who say more needs to be done to combat money laundering...

889. Probe countdown begins for Cyprus Co-Op debacle

Attorney General Costas Clerides is moving forward with the launching of an investigation into possible offences at the Cyprus Cooperative Bank, in connection with bad loans worth €7.5 billion...

890. #PoliticsBlog End of an era and Harris’ bitter chalice

Journalists often abuse the term 'end of an era' but in the case of the Cyprus Cooperative Bank, these words totally fit the bill...

891. May tourists up 7.6% despite Russian drop

Tourist arrivals went up by 7.6% last month, lending credence to earlier predictions that industry numbers were on a good path despite a disappointing Russian exit...

892. Couple in money fraud case suddenly off the hook

A married couple accused of stealing hundreds of thousands of euro from bank safe deposit boxes is off the hook after a state prosecutor failed to file charges against them properly....

893. ECHR rules against Cyprus in abuse complaint

The Republic of Cyprus will have to pay €25,000 to a Canadian citizen, following a decision by the European Court of Human Rights that found he was abused while in police custody and authorities did not carry out an effective investigation into his complaint...

894. Paphos mayor sticks to his guns in Turkish Cypriot property saga

Paphos Mayor Phedonas Phedonos is dismissing a response issued by the Interior Ministry regarding the latest Turkish Cypriot property saga, while reiterating allegations he made about favouritism and criminal activity in his town...

895. CTO sees tourism potential despite Russian defect

The Cyprus Tourism Organisation says tourist arrivals are expected to rise in 2018 despite a drop in Russian visitors to the island, while the government is moving forward with new plans for tourism on the island...

896. Government and Co-op begin consultations with bidders

897. Suspects in Paphos mayor mother's car bombing head to trial

Three suspects will appear before the Paphos criminal court next month to face charges in connection with the car bombing that belonged to the mother of the town’s mayor...

898. IMF, Berlin still divided over Greek debt but progress in sight

A meeting of the so-called Washington Group – representatives of Greece’s creditors as well as the governments of Germany, France, Spain and Italy, the biggest eurozone economies – failed to break a deadlock over the Greek debt as the International Monetary Fund and Berlin remain divided on the length of an upfront extension on bailout loans....

899. Paphos mayor says property pillage still rages on

Paphos Mayor Phedonas Phedonos believes the “pillage” of Turkish Cypriot properties in the south is still alive and well, just as the government says it is taking action to ensure fairness for all involved...

900. With eye on re-election Tsipras rolls dice on Macedonia

Greek Prime Minister Alexis Tsipras is taking a big gamble in trying to settle a decades-old name dispute with neighbouring Macedonia which could backfire in a pre-election year among voters already jaded by his economic austerity policies...