The Cypriot Parliament passed the loan agreement with 29 votes in favor and 27 votes against. The total aid for Cyprus amounts to 10 bn euro, of which 2,5 billion for the recap of the banking system, 4,1 bn euro for the public debt and 3,4bn for fiscal needs. The first installment, amounting 2 bn…
Touching individuals’ savings and businesses’ operational budgets is not right. It doesn’t matter if you choose to call it ‘haircut’, ‘theft’, ‘bullying’ or ‘terrorism’, though it is all of the above. EU citizens and EU bank account holders, wake up! They did it to us in Cyprus and they can do it to you! Let…
Greek Ministry of Finance announced yesterday that general government surplus, according to cash data, stood at €72m in 2M ’13 from €2,295m in 2M ‘12, with primary surplus at €1,375m down 57.1% y-o-y, incorporating: -state budget (i.e. central government) deficit of €1,007m (2M ’12: surplus of €597m) and primary surplus of €268m (2M’12: €1,459m). -extrabudgetary…
The Cypriot government announced that the negotiations with the troika on the formulation of the country’s adjustment program ended with the involved parties having concluded on the program. The Cypriot fiscal position is expected to move from a 2.4% primary deficit in 2013 to 1.2% surplus by 2016 and 4% thereafter. The government will undertake…
The Cyprus return back to Troika and the initial agreement achieved with the Eurogroup at 16th of March. The Cypriot Government failed to present a new reliable plan to Troika, after the disposal bill, by the Cyprus Parliament, to impose a stability levy in all depositors, as part of the bailout program. The Mediterranean island…
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