News update 20/03/2013
Καλημέρα σε όλους,
Μετά την απόρριψη του επίμαχου νομοσχεδίου απο τη Βουλή μας, έχουμε γίνει πρώτο θέμα στον ξένο τύπο.
Cyprus lawmakers reject bank tax; bailout in disarray
* Parliament votes 36-0 to reject tax on deposits
* Cypriot finmin in Moscow to seek aid
* Cypriot, Russian presidents talk by phone
* EU says no bailout unless Cyprus depositors contribute
Briefing by the Director of Economic Research and EU Affairs of the Ministry of Finance, Mr Andreas Charalambous, regarding the recent Eurogroup decision on Cyprus 19/03/2013
All at sea – what does the 'No' vote mean for Cyprus and the eurozone
Τα σενάρια για την Κύπρο μετά την απόρριψη του νομοσχεδίου - απο Ευρωπαικό Think tank
Cypriot Finance Minister Michalis Sarris will be in Moscow tomorrow to discuss the situation with his Russian counterpart. As we have argued before, Russia has significant self interest in helping Cyprus out – it could reduce the losses for the reported €20bn in Russian deposits held in Cyprus, it could gain favourable terms for future contracts on gas exploration in Cyprus (and therefore the future revenues) and it could also improve its geopolitical foothold in the region (as we have highlighted before, there is speculation that Russia has previously sought to move its naval base from Tartus, Syria to Cyprus).
Cyprus high stakes ECB Gamble
Cyprus's best hope is that the ECB makes any extension in ELA beyond Thursday dependent on two conditions: first, that it receives credible assurances that there is a realistic prospect of an alternative deal, and second, that the banks remain shut until that deal is concluded to minimize the low-level bank run already under way as Cypriots continue to empty automatic cash machines.
Cyprus Rejects Deposit Levy in Blow to European Bailout Plan
“This is not a good result, neither for Cyprus nor for the eurozone, and we have to look together for alternatives to the negotiated package,” Luxembourg Finance Minister Luc Frieden said in a phone interview. Another meeting of the 17 euro-area finance chiefs is needed to discuss “next steps” with Cyprus’s government. “What matters now is to undertake all necessary measures to ensure the stability of the eurozone,” he said.
A Cypriot Nobelist Is 'Appalled' by the Proposed Bailout Bank Tax - interview with Pissarides
MOKAS (FIU Cyprus): Germany has a worse record on money-laundering than Cyprus
According to the head of the Cyprus anti-money-laundering unit, MOKAS, Eva Papakyriacou, Cyprus compares favorably with other Eurozone members in relation to the measures taken to combat money laundering.
A plan B, by Nicos Kyriakides, partner ar Deloitte
Former Cyprus Central Banker Goes Off On The EU And Says The European Project Is Dying - interview with Athanasios Orfanides
"What we have seen in the last few days is a very serious blunder by European governments that are essentially blackmailing the government of Cyprus to confiscate the money that belongs rightfully to depositors in the banking sector in Cyprus. It is not clear how this can affect in a positive matter the European project going forward."
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