Posts by tag: bank workers

Archives April 5, 2013 posted by

Lawsuit threat against EU, IMF and Cyprus

 

A LEADING law firm has threatened to take the European Commission, the International Monetary Fund and the Cyprus Republic to court unless the Eurogroup decision which led to a haircut on deposits is reviewed.

In a letter addressed to multiple recipients yesterday, Georgiades & Mylonas Advocates and Legal Consultants demand the immediate release of their client’s money in Laiki Bank and the lifting of any restrictions on deposits.

The lawyers are acting on behalf of Elena Yavorskaya, who held approximately €3.4m in five bank accounts in Laiki Limassol, money that has been frozen since the decision to wind down the bank.

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Archives April 3, 2013 posted by

‘Better’ bailout deal clinched

THE GOVERNMENT yesterday clinched a deal with the troika on a €10 billion bailout programme with ‘better’ terms than the previous draft memorandum, said government spokesman Christos Stylianides. 
“This is a very important development which ends a very long period of uncertainty,” he said, adding that the conditions have now been put in place to inject life back into the economy.
The deal, which requires ratification from eurozone finance ministers and national EU parliaments, will see Cyprus receiving a €10 billion loan, carrying an interest rate of between 2.5 and 2.7 per cent. It is repayable over a 12 year period after a grace period of a decade.

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Archives September 20, 2012 posted by

‘Moving in the right direction’

RESIDENTS of the Nicosia municipality of Aglandjia yesterday took to the streets reclaiming the roads with bikes and wheelchairs as part of the European mobility week.

The busy Kyrenia Avenue was blocked with bikes between 9.30am and 11.30am letting schoolchildren roam. The campaign aims to raise awareness of mobility problems faced by residents going about their daily business. Cars taking up pavements and bike lanes, for example, hamper movement for cyclists, pedestrians and people in wheelchairs. 

Yesterday’s event was geared towards school children.

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