Posts by tag: restructuring

Archives April 9, 2013 posted by

Inquiry committee member resigns, reports say

One of the members of a committee of inquiry into the responsibilities attached to nearly destroying the Cyprus banking system and the economy, yesterday handed in his resignation, reports said.
Former Supreme Court judge Yiannakis Constantinides reportedly cited health reasons for stepping down from the committee which was only sworn in last Tuesday, launching investigations into civil, political and criminal responsibilities. The other two members are a former Supreme Court judge and former member of the International Court of Justice in The Hague, Giorgos Pikis who also heads the investigation, and former Supreme Court judge Panayiotis Kallis.

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Archives March 22, 2013 posted by

‘We will not become Germany’s slaves’

HUNDREDS OF Laiki (Popular) Bank employees gathered outside parliament last night after word got out that the government had prepared a bill for the second largest bank on the island to undergo restructuring.
As the sun set, news trickled out in the media of a plan to split the bank into a ‘good’ bank retaining healthy loans and a ‘bad’ bank which would take on ‘bad’ loans and work towards recovering as much money as possible. 
Around 500 Laiki employees and their families gathered in an impromptu demonstration outside parliament, where the newly-prepared bills were expected to be taken for discussion in the plenum.
Some protesters managed to break through the police barricades and make their way to the parliament doors which were locked by police.

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Archives January 9, 2012 posted by

British PM pushes for swift Scottish independence vote

Prime Minister David Cameron said Scotland should hold an independence referendum as early as next year, clashing with the Scottish National Party (SNP) which wants more time to rally support for a break from the United Kingdom.

Cameron, who opposes Scottish independence, said uncertainty about the 300-year-old union between England and its smaller northern neighbour was creating problems for business and harming investment.

“If (SNP leader) Alex Salmond wants a referendum on independence, why do we wait until 2014?” Cameron told Sky News.

“This is very damaging for Scotland because all the time business is asking: ‘is Scotland going to be part of the United Kingdom? Are they going to stay together? Should I invest?'”

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