Wednesday April 23, 2014 Search
Weather | Athens
23o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Russia may reduce Cyprus loan rate as part of restructuring

By Ilya Arkhipov & Scott Rose

Russia may reduce the interest rate and extend the maturity on the 2.5 billion-euro ($3.4 billion) loan it offered Cyprus in 2011, Finance Minister Anton Siluanov said as he urged Europe to lead a bailout of the island nation.

Were prepared to ease the terms, restructuring the debt and possibly also looking at the rate, Siluanov told reporters on a flight to Sochi, the southern Russian city that hosts next years Winter Olympics.

Russia, which counts Cyprus as its biggest source of foreign direct investment, is more focused on changes to the existing credit than considering a request for a new loan from the eastern Mediterranean country, Siluanov said. He reiterated Russias position that euro-area countries should lead the way on any potential bailout.

Cyprus is negotiating with the European Commission, the European Central Bank and the International Monetary Fund over the size and terms of a rescue for the government and banks weakened by exposure to the Greek economy. Cypriot financial institutions such as Bank of Cyprus Plc and Cyprus Popular Bank Pcl lost more than 4 billion euros in a debt restructuring that was part of a second rescue of Greece.

Our steps to meet them part way cant solve the Cyprus problem without significant financial support from the European Union, Siluanov said.

[Bloomberg]

ekathimerini.com , Monday February 4, 2013 (16:21)  
Expanding the social dividend base
National Bank determined to remain in the Turkish market
Ferries to start using LNG
Investment fund off the ground
Free drugs for uninsured Greeks
There are between 1.9 and 2.4 million Greeks, or roughly 20 percent of the total population, without social insurance, Health Minister Adonis Georgiadis said on Wednesday as he announced pla...
SYRIZAs preparation for elections upset again
SYRIZA's preparations for next month's local and European Parliament elections suffered another blow on Wednesday as Ahmet Kurt, one of the leftist party's candidates for the regional counci...
Inside News
BASKETBALL
Reds and Greens stay alive in Euroleague
Easter and home advantage worked wonders for Panathinaikos and Olympiakos who stayed alive in the Euroleague play-offs beating CSKA and Real Madrid respectively on Monday in Greece. Shak...
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
Inside Sports
COMMENTARY
Its too soon for Europe to declare victory
There was a time not so long ago when the vast majority of experts agreed that a country could not emerge decisively from a financial crisis unless it solved problems of both stocks and f...
COMMENTARY
Realitys other side
There is plenty of evidence pointing to the fact that the countrys real economy has hit rock bottom and is currently entering a phase of growth. Those who know the market well tend to suppo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Expanding the social dividend base
2. National Bank determined to remain in the Turkish market
3. Ferries to start using LNG
4. Investment fund off the ground
5. Stocks decline after three days of growth
6. Free drugs for uninsured Greeks
more news
Today
This Week
1. FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
2. Greek debt swells again as Samaras looks to creditors for relief
3. Tunisian sought over employment scam
4. Woman dies after falling off state building roof
5. Greece qualifies for new debt relief after 2013 budget surplus
6. Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
Today
This Week
1. Greece's market return mirrors return of tourists
2. Greece startup leaders say they cant break jobless cycle alone
3. Ground-breaking Good Friday mass signals thaw in Cyprus
4. Mayoral candidates clash over Athens mosque plans
5. Government looks to kick on
6. Greece offers to help find Turkish F-16 lost in 1996
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.