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20th April 2024
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News

Homeowners need protection from troika proposals

Troika's proposal to accelerate loan recovery by the banks could spell disaster for many home buyers; they could lose their homes within 18 months even though they may have paid for them in full.
News

Russia to coordinate Cyprus loan decision with EU

Russia has said that it would only grant a bailout loan to Cyprus as part of a coordinated rescue with the EU for the island state, which it said was seeking a total of €20 billion in aid.
News

Investigators to report criminal liability

The firm appointed by the Cyprus Central Bank to investigate why the Bank of Cyprus and the Cyprus Popular Bank had to seek state support will also look into possible criminal offences.
Investment

Cyprus may need more than €10 billion for bailout

The island's' public finances are in a worse state than we expected said troika official Maarten Verwey according to the minutes of the meeting obtained by Bloomberg News; more bailout cash may be needed.
Investment

Cyprus ratings lowered as bailout talks continue

Ratings agency Standard & Poor's has cut Cyprus’ long-term sovereign credit rating a notch pushing it deeper into junk territory and placed it in on CreditWatch with negative implications.
Investment

Bad loans are key to assessing EU bailout

The size of the EU bailout will be determined by the methodology employed by troika to assess bad loans as Cypriot banks do not count fully secured loans as nonperforming even though they have not been serviced in 90 days.
Investment

Popular bank receives state bailout

Cyprus, which applied for an EU bailout last week, acquired €1.79 billion worth of shares in the island's second-largest lender, in a previously announced move to help it meet minimum capital levels depleted by heavy exposure to debt-crippled Greece.
Investment

Cyprus bids for EU bank bailout

Cyprus has become the fifth Eurozone country that has turned to Brussels for emergency funding. It is seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks.

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