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1321. 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...

1322. Over a thousand employees choose Co-Op buyout

Over a thousand employees at Cyprus Cooperative Bank signed up for a voluntary severance package, well above the target of 900 set by the bank ahead of a takeover by Hellenic Bank...

1323. Cyprus puts team together to save gas deal

The Cyprus government is willing to renegotiate terms with an energy consortium, following concerns on the part of companies that worry new developments and low gas prices would render a current deal not profitable...

1324. Global jitters hit Greek bonds

Just days before Greece is to emerge from its international bailouts, upheaval in international markets took a toll on Greek bonds on Thursday, driving yields up above 4 percent....

1325. After Toskas departure, PM looks to government reshuffle

Following the departure of Citizens’ Protection Minister Nikos Toskas from the government – a delayed response to the fatal wildfires that ravaged Attica last month – Prime Minister Alexis Tsipras is said to be mulling a more sweeping overhaul of his cabinet in a bid to appease public discontent and signal that his administration is robust ahead of anticipated snap polls next spring....

1326. Greek bank deposits rise in June for fifth month in a row

Greek bank deposits rose in June for a fifth consecutive month, increasing by 1.3 billion euros ($1.52 billion), central bank data showed on Wednesday....

1327. Cyprus wants to rein in ‘passport-selling’ agencies

The Cyprus government has issued strict guidelines aimed at curbing the overt promotion of passports, censuring agencies that explicitly try to lure rich foreign nationals for enrollment in the citizenship-by-investment programme...

1328. House shifts into gear with Sunday bad loans session

It will be a long weekend for the House finance committee, which will hold emergency sessions ahead of a crucial Sunday vote on bad loans and state guarantees for Hellenic Bank...

1329. Cabinet okays homeowner plan ahead of crucial House session

The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non-performing loans in the Cypriot banking sector, but time is running out as a crucial legislation package on bad loans is also up for a vote on Friday...

1330. Registration now open for 2nd Cyprus Open Data Hackathon

The 2nd Cyprus Open Data Hackathon will take place on 15-16 September 2018 in Limassol at ARIS, co-organized by the Innovation and Entrepreneurship Centre of Deloitte, the Public Administration and Personnel Department of the Ministry of Finance and Hack Cyprus. ...

1331. Nicosia detains ELDYK soldier on Greek warrant

A Greek solider serving in Cyprus was arrested in connection with funding a terrorist group, following a deposit he made last year to the Revolutionary Fund...

1332. 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...

1333. Government welcomes Diko support on bad loans

The Cyprus government says it can work with opposition centrist party Diko to pass much needed comprehensive legislation on bad loans that would also pave the way for a co-op deal to go forward...

1334. Co-Op deal with Hellenic still up in the air

The government is running against the clock with bad loans legislation, which would include a bill approving state guarantees for Hellenic Bank to absorb potentially high-risk loans in co-op takeover...

1335. Tsipras in UK in bid to promote Greek role in Balkans, seek investors

Prime Minister Alexis Tsipras is in London on Monday for a three-day visit during which he is scheduled to meet with his counterpart, Theresa May, and the head of the Labour Party, Jeremy Corbyn, while attempting to present Greece as a significant player in the Balkans and investigate investment interest....

1336. 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...

1337. #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...

1338. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

1339. Greek Cypriot drivers cross north to fill ’er up

Greek Cypriot gas station owners are feeling the squeeze as many vehicle owners cross north to get petrol, causing up to 70% losses in the south...

1340. Capital controls eased further as of Monday

Capital controls were eased further on Monday with depositors now permitted to withdraw a monthly maximum of 5,000 euros from bank accounts, up from 2,300 euros....

1341. Audit report on CCB made public amid negotiations

An audit report on the Cyprus Cooperative Bank (CCB) was made public on Friday, amid negotiations between the Co-op and its two bidders, making recommendations for improvement but also criticising the institution on a number of decisions...

1342. Finance Ministry issues six-year bonds for natural persons

Cyprus Finance Ministry issued domestic bonds for natural persons amounting to €6.77 million, Public Debt Management Office (PDMO) announced....

1343. Korean-Hellenic ship forum to highlight ties

The “Korean-Hellenic Maritime Cooperation Forum,” to be held on Wednesday, June 6, in the context of the Posidonia 2018 shipping fair next to Athens International Airport, is expected to draw quite a crowd and will highlight the long-standing cooperation between the two nations in the maritime sector....

1344. Government and Co-op begin consultations with bidders

1345. There is still hope for Cyprus to host Eurovision 2019

Despite being the first runner-up in this year’s Eurovision song contest, there appears to be a small chance that Cyprus could still be the host next year due to political and security concerns in Israel...

1346. 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....

1347. Cyprus tightens vetting for investment-for-passport scheme

In the wake of criticism that it was operating a "passports-for-cash" scheme, Cyprus has toughened up vetting procedures for those investors looking to get their hands on a European Union passport...

1348. Cyprus forecasts high GDP growth of 3% plus until 2021

High growth rates exceeding 3% of the GDP and high primary surpluses are projected until the year 2021 in the Strategic Fiscal Policy Framework (SFPF) 2019-2021, which was approved by the cabinet...

1349. Tsipras says Greece will meet fiscal targets with no fiscal gap in 2018-9

Greece and its foreign creditors agreed that the country will meet its fiscal targets in the coming years and there will be no fiscal gap in 2018 and 2019, Prime Minister Alexis Tsipras told his cabinet ...

1350. UK financial sector wants global talent on tap after Brexit

Costs for hiring bankers, accountants and lawyers from outside Britain will soar after Brexit and threaten London’s standing as a global financial centre unless the immigration system is urgently reformed, a report said...