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All reports tagged with: "financial crisis"

Government to support banks in financial crisis

The Council of Ministers has approved three draft bills designed to shore up the banks that are heavily exposed to Greek government bonds and to establish an independent financial stability fund.

Cyprus construction industry shows no sign of recovery

The Island’s construction industry is still struggling through recession according to the Federation of Building Contractors Associations of Cyprus (OSEOK) with a third of its workers unemployed.

Could Spanish nightmare happen in Cyprus?

Could a nightmare case in which a couple may lose their UK home as a consequence of missing their mortgage repayments on a flat in Spain happen in Cyprus?

Cyprus rating cut on banks’ Greece exposure

Rating agency Standard and Poor’s downgraded Cyprus’ sovereign credit rating by one notch and set the outlook as ‘negative’ as a result of increasing vulnerabilities in the Island’s banking system.

Thousands of Cyprus construction jobs lost

According to the president of the Cyprus Contractors Federation more than ten thousand construction workers have lost their jobs and the industry’s productivity dropped by 9 percent last year.

Another annus horribilis for Cyprus in 2010

Over the past week, a number of articles have appeared in the Cyprus media that have set alarm bells ringing for what 2010 has in store for the property sector and the Island’s economy.

Demonstrations against Cyprus banks

CPAG is organising a series of demonstrations in efforts to force the banks in Cyprus to disclose details of mortgages taken out by property developers to those homebuyers who have been duped into buying mortgaged property.

Title Deed problems tarnishing Cyprus says minister

At the recent real estate conference the Cyprus Interior Minister, Neoclis Sylikiotis, said the failure to process 130,000 title deeds snared in the system was tarnishing Cyprus’ reputation among foreign investors.

HELP – I can’t pay the mortgage!

The worst thing you can do is bury your head in the sand and hope that the problem will somehow go away; it will not. The first thing you must do is discuss the problem with the bank that loaned the money

How to avoid buying into a bubble

It is very important how to work out what a property is actually worth, from a fundamental perspective. The Global Property Guide has written this article to help ensure you’re not over-paying!

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