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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Cyprus’ Stability Levy: Another sad euphemism

Yanis Varoyfakis / http://yanisvaroufakis.eu They called it a ‘stability levy’, when they meant a tax on Cypriot depositors (including the savings of poor widows and small children) so that they spare holders of Cypriot government bonds (including hedge funds who are now having a party in Mayfair and New York) as well as minimise potential long-term…

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Association of Cyprus Banks urges bank customers to remain calm and avoid panic

The Association of Cyprus Banks acknowledges the disruption caused by Eurogroup’s recent decision in relation to Cyprus and the subsequent developments. It urges bank customers to remain calm and avoid panic. The Association and it’s member banks remain vigilant in view of the current developments and are closely monitoring the situation in cooperation with the…

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Statement by the Eurogroup President on Cyprus

The Eurogroup held a teleconference this evening to take stock of the situation in Cyprus I recall that the political agreement reached οn 16 March on the cornerstones of the adjustment programme and the financing envelope for Cyprus reflects the consensus reached by the Cypriot government with the Eurogroup. The implementation of the reform measures included…

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