Cyprus' two main banks pass European stress test
- Cyprus Mail
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- July 24, 2010
NIKOSIA, Cyprus - HE island’s two largest banks - Bank of Cyprus and Marfin Popular - yesterday successfully passed an EU-wide stress test coordinated by European Banking Supervisors (CEBS) in coopera...
EU Criticizes Cyprus, 3 More EU States on High Deficit
- Aoife White - The Associated Press
- •
- July 13, 2010
BRUSSELS — European Union governments said Tuesday that they are close to a deal to set up new financial oversight agencies at the end of the year.
The move would have to be a compromise between go...
IMF to Cyprus: Slash Public Sector Spending Now
- The Associated Press
- •
- July 06, 2010
The International Monetary Fund on Monday projected a return to positive growth for Cyprus next year, but urged bold action to reign in a burgeoning fiscal deficit that could threaten the Mediterranea...
Recession ending in Cyprus, but deficit strategy row goes on
- Charles Charalambous - Cyprus Mail
- •
- June 10, 2010
Although the economy grew by 0.1 per cent in the first quarter of 2010, which means that Cyprus has technically emerged from recession, the political row over how to reduce the budget deficit rumbled ...
Cyprus must cut back on public spending - c. banker
NICOSIA, June 1 (Reuters) - Cyprus must rein in public spending and re-direct it to development projects to help lift its economy out of its worst recession in three decades, central bank Governor Ath...
Hard times could see food vouchers in Cyprus
- Patrick Dewhurst - Cyprus Mail
- •
- May 19, 2010
The Limmasol municipality is looking to open a supermarket to provide free food to low income families in the coming months.
Under the scheme, which has been successfully piloted in Greece and othe...
Cyprus close to second oil search licensing round
NICOSIA, May 19 (Reuters) - Cyprus said on Wednesday it was close to proceeding with a second licensing round for offshore oil exploration and is wrapping up the preparatory work.
Industry Minister...
Cyprus finmin: we’re right on track
- Charles Charalambous - Cyprus Mail
- •
- May 15, 2010
The measures being implemented by the government mean that Cyprus is on track to limit the budget deficit to 6.0 per cent of gross domestic product (GDP) in 2010, thus achieving the first target set i...
Cyprus Central Bank: Deeper spending cuts needed
The governor of Cyprus' Central Bank warned Monday that government spending cuts aimed at cutting the deficit don't go far enough.
Athanasios Orphanides said deeper cuts are needed than those in th...
Austerity plan inadequate to combat structural problems
- Charles Charalambous - Cyprus Mail
- •
- April 24, 2010
Although the austerity measures contained in the government’s economic convergence program are “a move in the right direction” for some, “it is inadequate for solving the structural problems of the pu...
Just five top civil servants agree to wage cut
- George Psyllides - Cyprus Mail
- •
- April 22, 2010
Around five senior state officials have so far agreed to Finance Minister Charilaos Stavrakis’ call to commit to a 10 per cent cut in gross salary for two years, the Cyprus Mail learned yesterday.
...
Cyprus' public deficit reached 6,1% in 2009
- Financial Mirror
- •
- April 22, 2010
Cyprus’ public deficit reached in 2009 6,1% of the GDP, or 1,029 billion euro, in absolute numbers.
According to data issued Thursday by Eurostat, 14 Eurozone member states recorded a deficit over...
Cyprus could see economy shrink in 2010
- The Associated Press
- •
- April 12, 2010
Cyprus' Central Bank governor said on Monday that the east Mediterranean island could see it's economy shrink in 2010 for the second consecutive year.
Athanasios Orphanides told legislators that th...
Cyprus says not receiving excessive Greek cash
NICOSIA, April 7 (Reuters) - Cyprus's central bank said on Wednesday that reports its banking sector was awash with Greek cash after depositors shifted funds there to escape the Greek debt crisis were...
Cyprus submits stability plan
- Famagusta Gazette
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- April 07, 2010
The government has submitted to the European Commission its Stability Programme, which includes the basic targets to reduce the budget deficit to 6% in 2010 and below 3% by 2013.
According to an o...
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