Monday May 25, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Softer stance by European Parliament on Cyprus

Strong reaction to bailout measures imposed on Cyprus has brought signs of a softer stance from the European Parliament and a concession by the Nicosia government for depositors who see their capital suffer a haircut.

Martin Schulz, the head of the European Parliament, said that small depositors in Cyprus should be protected, proposing that there should be no haircut to account whose balance does not exceed 25,000 euros, in an interview to German newspaper Welt am Sonntag on Sunday.

The Eurogroup decision on the 10-billion-euro bailout for Cyprus provides for all deposits up to 100,000 euros to suffer a 6.75 percent one-off tax, while those over 100,000 to have 9.9 percent deducted in favor of the island’s flagging economy.

Faced with a very strong reaction by the majority of the people as well as local politicians, the Cypriot government has leaked that depositors may also get bonds on future natural gas earnings in return for the loss of their deposits.

On Saturday a man drove his bulldozer to the gate of a cooperative bank in Limassol in protest for not being able to withdraw his cash.

George Osborne, the UK Chancellor of the Exchequer, promised the members of the British armed forces and government officials based on Cyprus who have accounts in Cypriot banks that they will be compensated from the haircut Nicosia is imposing.

ekathimerini.com , Sunday March 17, 2013 (15:01)  
ND´s Bakoyannis fears capital controls over long weekend
Varoufakis slams media over Riga Eurogroup reporting
Greeks back government´s red lines, but want to keep euro
SYRIZA seeks new relationship with police
Greece calls on creditors to compromise as IMF payment nears
Greece called on the country’s creditors to compromise on demands to break an impasse over the release of funds for its cash-strapped economy as a deadline neared for payments due next month...
ANALYSIS
VAT adjustment is the way forward
The Greek government’s hope for a political solution and a staff-level agreement on the program review by the end of May is looking increasingly unlikely. To the extent that a piecemeal appr...
Inside Business
SOCCER
Berg brace gives Panathinaikos four-point lead
Panathinaikos beat Atromitos on Sunday and took advantage of the goalless draw between PAOK and Asteras Tripolis to open a four-point gap from PAOK at the top of the Super League play-off mi...
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
Inside Sports
COMMENTARY
No more ´quick and dirty´ fixes for Greece
International Monetary Fund Managing Director Christine Lagarde correctly said last week that the protracted negotiations between Greece and its official creditors required «a comprehensive ...
COMMENTARY
The good news and the bad
The good news is that a Greek default will most likely be prevented, a deal will be reached with the country’s creditors and an extension will be granted for negotiations over the next bailo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ND´s Bakoyannis fears capital controls over long weekend
2. Greece calls on creditors to compromise as IMF payment nears
3. Berg brace gives Panathinaikos four-point lead
4. VAT adjustment is the way forward
5. Tender for Thriasio freight center to restart next month
6. Varoufakis slams media over Riga Eurogroup reporting
more news
Today
This Week
1. Greece calls on creditors to compromise as IMF payment nears
2. No more 'quick and dirty' fixes for Greece
3. ND's Bakoyannis fears capital controls over long weekend
4. Greeks back government's red lines, but want to keep euro
5. Greece does not have the money to make June IMF repayment, warns interior minister
6. The good news and the bad
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.