July 30th, 2010
Fiscal purification is a one-way street for the government, Minister of Finance Charilaos Stavrakis has said, urging all political parties to adopt a package of measures to boost public finances. The Minister noted that technocrats at the Ministry of Finance are examining many scenarios, which will soon be submitted to ...
July 29th, 2010
British Prime Minister David Cameron will begin a two-day visit to Turkey later on Monday, with British officials indicating that the tour that comes just three months after he took office highlights the importance his government attaches to relations with Turkey. Cameron will be accompanied by Foreign Secretary William Hague. In ...
July 28th, 2010
As the dust begins to settle after Friday’s announcement of the results of the EU’s stress test of 91 European banks’ asset portfolios, the argument goes on as how useful or meaningful the exercise was, with widespread talk of the bar being set too low, and some analysts talking of ...
July 27th, 2010
Bank of Cyprus Public Company Ltd was subject to the 2010 EU-wide stress testing exercise coordinated by the Committee of European Banking Supervisors (CEBS), in cooperation with the European Central Bank, and the Central Bank of Cyprus. The Bank of Cyprus has successfully passed the stress test exercise, reaffirming its ...
July 26th, 2010
International ratings agency Standard & Poor's warned Cyprus to take action to cut its budget deficit or face a rating cut, reports said Wednesday. The agency said that the Mediterranean country's A+ sovereign credit rating could be cut in the next three to four months, if it cannot do more to ...
July 23rd, 2010
The Cyprus economy has been officially placed under EU monitoring, due to its growing budget deficit. During a meeting in Brussels the finance ministers Council, ECOFIN, implemented the relevant procedure on the public deficit for Bulgaria, Cyprus, Denmark and Finland. Our Brussels correspondent reported that Cyprus must reduce the deficit below 3 ...
July 22nd, 2010
UN backed efforts to reunite the ethnically divided island of Cyprus could be lost unless a breakthrough is made by the end of the year, Turkish Deputy Prime Minister Cemil Cicek said on Tuesday. Cyprus was split between ethnic Greeks in the south and Turks in the north after a Greek ...
July 21st, 2010
Cyprus' trade deficit for the first five months of 2010 rose to 2.09 billion euro, compared to 1.92 billion euro in the corresponding period of 2009, recording an increase of 176 million euro, according to preliminary data released today by Cyprus Statistical Service. Total imports/ arrivals in January - May ...
July 20th, 2010
Cyprus’ annual inflation marked an increase of 0,3% in June, Eurostat has announced. According to figures, released by Eurostat, the statistical office of the European Union, the annual inflation in Cyprus was 2,1% in June 2010, compared to 1,8% in May. In Greece, the annual inflation slightly decreased by 0,1%, ...
July 19th, 2010
Hours after Cyprus was formally placed under EU supervision for its excessive budget deficit, the Finance Minister yesterday put on a brave face, saying the government would go it alone, if it had to, in efforts to better the state of public finances. “In the absence of consensus from the political ...
