Cyprus: New bailout plan with lower levy

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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European Commission statement on Cyprus

Since the autumn of 2011, the possibility of assistance to Cyprus under a programme has been under discussion by the Cypriot authorities with the Commission. In July 2012, Cyprus formally asked for assistance under a programme. The need for assistance comes essentially from problems in the Cypriot banking sector which was unsustainably large for the…

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