Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Anastasiades promises natural gas bonds to depositors

Cypriot President Nicos Anastasiades told his citizens on Sunday that he has chosen the least catastrophic option and confirmed that depositors will get bonds linked to natural gas earnings for the haircut their bank accounts have suffered. He also said he is trying to change the terms imposed on Nicosia for the bailout of the 10 billion euros.

In a televised address Anastasiades admitted that Cyprus is undergoing the most tragic moments since 1974, in reference to the Turkish invasion that has led to the occupation of the northern third of the island.

The first option would have led to a disorderly default as a result of the decision by the European Central Bank for the immediate stop of the emergency liquidity assistance to the two major Cypriot banks.

The second is the option of a very difficult but controlled and manageable situation that will eventually lead to the stabilization of the economy and to a rebound, said Anastasiades, rendering full account of the disastrous impact on the country a disorderly default would have entailed.

"In recognition of its obligations, the state will offer to those who will keep their deposits in Cyprus bonds equal to half of their contribution now, linked to the future public revenues from natural gas," he said, adding that all this is meant to relieve future generations from the consequences of this generation's mistakes.

Meanwhile the government has not yet announced that Tuesday is going to be a bank holiday although sources confirm that this has been the decision of the cabinet.

ekathimerini.com , Sunday March 17, 2013 (21:22)  
Environment Ministry to reconsider controversial bill
Corfu to host countrys first hydroplane strip
Political upheaval sharpens after bribe claims with threats and insinuations
Police gets new communications system
Workers rush to get early retirement
Nine out of 10 workers who retired in the last four months who had belonged to the former special funds of banks and state corporations that have now been incorporated in the Social Security...
Piraeus Containter Terminal goes from strength to strength
Piraeus Container Terminal, the local subsidiary of Chinese giant Cosco Pacific, is expected to handle a total of over 3 million containers in the January-December period of this year. The J...
Inside Business
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
The big picture
In his second term, US President Barack Obama is taking steps to enshrine his legacy and solidify Americas standing in the 21st century. His recent decision to normalize relations between t...
EDITORIAL
Get your facts straight
The danger that political discourse in Greece will sink to the basest levels of vulgarity is already more than apparent from the allegations we have heard bandied about over recent days. The...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Environment Ministry to reconsider controversial bill
2. Corfu to host countrys first hydroplane strip
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Police gets new communications system
5. Most Greeks say they recycle daily
6. Probe into revenues of 2 mln euros in Halkidiki municipality
more news
Today
This Week
1. Get your facts straight
2. The big picture
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Environment Ministry to reconsider controversial bill
5. Changes on E9 property declarations possible until end-year
6. Police gets new communications system
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.