Posts by tag: Anastasiades

Archives April 20, 2013 posted by

Germany, IMF ‘used atomic bomb to shoot pigeon’


ONE OF Cyprus’ most senior civil servants yesterday likened his country’s treatment by Germany and the IMF to the shooting of a pigeon with an atomic bomb, saying they had destroyed an economic system that worked.

Christos Patsalides, permanent secretary of the Ministry of Finance, was speaking to a committee inquiry which launched a public hearing yesterday into the circumstances that led to the country’s economic meltdown.

He described the international lenders as “forces of occupation” that cared nothing for human rights.

Patsalides took part in the recent bailout negotiations between Cyprus and the European Union and International Monetary Fund.

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Archives April 12, 2013 posted by

Cyprus Today

Woman released 

THE 28-YEAR-OLD woman, who was arrested by bases police on Wednesday in connection with the murder of 35-year-old Loucas Charalambous on April 3, was released after no evidence was found against her. 

During a brief hearing at Sovereign Base Area (SBA) Court in Episkopi yesterday the judge was told by investigators that police were not charging the woman and there was no reason to hold her. 

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Archives April 12, 2013 posted by

Inquest into Zenobia dive death opens


A LONG-DELAYED inquest has finally opened into the tragic death of a British diver who had been exploring a ship wreck off the Larnaca coast.

Catherine Vicar, 33, was exploring the wreck of the Zenobia as part of a diving group, when she went missing inside the hulk in October 2010.

According to reports at the time, a professional diving instructor entered the wreck 15-minutes after she was reported missing and spotted her unconscious in the engine room without her air equipment. She was rushed to Larnaca General Hospital where she succumbed, despite efforts to revive her. 

In a short hearing yesterday at Larnaca District Court, the police investigator dealing with the incident submitted his case file. 

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Archives March 31, 2013 posted by

Tales from the Coffeeshop: Deleterious Delia revealed as IMF's own Cruella De Vil

GOVERNOR of the Central Bank Professor Panicos has suddenly become the most-hated man in Kyproulla, trusted by nobody apart from the foreign technocrats who are here diligently working on reducing the size of our economy by 50 per cent.
He is now everyone’s favourite punching bag (a shame because our establishment had enjoyed the monopoly for months) with senior government officials bad-mouthing him to hacks and even the mild-mannered finance minister Michalis Sarris, who never speaks ill of anyone, diplomatically distancing himself from the beleaguered governor.

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Archives March 29, 2013 posted by

New: Cyprus, troika, agree on BoC share issue

AUTHORITIES have struck a deal with troika late on Thursday not to write off current Bank of Cyprus (BoC) shares but to impose a write-down instead.

The agreement provides for the replacement of the word “write off” with the word “write-down” in accordance with the bank resolution framework, the Cyprus News Agency said.

The Eurogroup had decided on Monday that current shareholders will lose their shares without compensation and ownership of BoC will fall to uninsured depositors who will see around 40 per cent of their cash go towards rescuing the lender.

The Church of Cyprus, a large shareholder in BoC, yesterday secured an injunction halting the decision.

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Archives March 24, 2013 posted by

‘Complications with Piraeus deal for Cypriot units’

UPDATED 20:22 Talks on the transfer of Cypriot banks’ Greek units to Greece have been frozen on the instructions of President Nicos Anastasiades, the Cyprus News Agency (CNA) reported.

The matter of transferring the operations to Greece’s Piraeus Bank will be part of a comprehensive deal for Cyprus’ bailout tonight at the Eurogroup, the report said.

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Archives March 20, 2013 posted by

Eleni Theocharous: Trying to change the world


MEP Eleni Theocharous has led life as if it was a series of battles, although THEO PANAYIDES finds she has now mellowed a bit


Eleni Theocharous sits on the edge of her living-room couch, focused, unsmiling. She has an appointment in half an hour, wall-to-wall engagements this weekend, and flies back to Brussels on Monday. “I was always a gifted child,” she says, speaking of her early years in the mining village of Amiantos.

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Archives March 19, 2013 posted by

Parliamentary vote will be a close call


A SIMPLE majority in the 56-member House of Representatives would be required for approval of the government bill on the deposits haircut, assuming the twice-postponed vote is held today.

However the numbers simply do not add up to a majority. Three parties AKEL (19 seats), EDEK (5) and the single-seat Greens decided on Sunday that they would vote against the haircut. This leaves President Anastasiadesrelying on his party DISY (20 seats) and his government’s coalition partner DIKO (8).  

Even if he ensures that all DISY members would back the bill the support of the eight members of DIKO that would give the government a fighting chance of passing it, is far from certain. At least three DIKO deputies had indicated they would not back the bill. 

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Archives March 17, 2013 posted by

Our View: The ‘rescue package’ designed to destroy the economy


EVEN though the haircut of bank deposits had been on the agenda of the EU for more than a month now, featuring in Commission memos and being openly discussed by European politicians, most of whom, refused to rule it out, few people thought the Eurogroup would go ahead with it. It was an idle threat, to force Cyprus privatise SGOs and increase the corporate tax, was the prevailing view. 

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Archives March 17, 2013 posted by

Vote on controversial deposit haircut postponed

PARLIAMENT on Sunday postponed an emergency session to discuss a levy on bank savings imposed to partially fund an international bailout needed to stave off bankruptcy.

All meetings were postponed until Monday, the Cyprus News Agency reported. Earlier, President Nicos Anastasiades postponed an informal meeting of lawmakers called for Sunday morning.

Several parties in the 56-member chamber, where no party has an absolute majority, were meeting on Sunday morning to formulate positions over the bank levy. Three parties have already said they will not back the plan.

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