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Cyprus economy recovery fragile

Although the Cyprus economy is recovering it is still fragile and it needs to implement key reforms in order to unlock its potential, including the enforcement of property rights, European Commissioner Pierre Moscovici has said..

Recidivism: the curse on Cyprus

Unless the Cyprus government cracks down hard on recidivism in all its forms, an international risk management consultant predicts that Cyprus is likely to hit another 2013 scale financial crisis within five years.

Moody’s: Cyprus banking sector risk ‘very high’

Moody’s Investor Services has warned about the dangers lurking in the Cyprus Banking system due to the high percentage of non-performing loans and considers the banking sector risk to be “Very High”.

Cyprus ‘failed miserably’ on Title Deeds

Interior Minister Socratis Hasikos has admitted that Cyprus has failed miserably over the Title Deed issue and pledged that his ministry will do everything in its power to sort out the matter.

Significant risks for Cyprus remain

Although Cyprus is well on track with its economic adjustment program, the IMF has warned that significant risks remain pointing out that decisive action to deal with non-performing assets is essential.

Risk of Cyprus default “material and rising”

Cyprus faces a “material and rising risk” of defaulting on its sovereign debt, especially if the euro zone and International Monetary Fund do not come up with aid, rating agency Standard & Poor’s said on Wednesday.

Moody’s places Cyprus on review for downgrade

Ratings agency Moody’s has placed Cyprus on review for a possible downgrade citing the slow pace of negotiations with the Troika and evidence that the Cyprus budget deficit will be significantly larger than expected.

Papal infallibility in Cypriot companies

Years of meteoric growth in the economy when everything you touched turned to gold lead many Cypriot companies to believe they were infallible and ignore issues such as downside risks.

Fitch places three top banks on rating watch negative

International ratings agency Fitch has placed the Island’s top three commercial banks on rating watch negative meaning that they could be downgraded in the near future as they remain highly sensitive to events in Greece.

Cyprus economy has yet to hit bottom say economists

A panel of economists from the University of Cyprus’ Economic Research Unit believe that the present state of the global economy and the uncertain future of the Euro area have dramatically increased the risks for the Cyprus economy.

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