Saturday Jul 26, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Troika begins quizzing Nicosia to determine next tranche of aid

Cypruss international lenders began reviewing how the island is meeting the conditions of it 10-billion-euro bailout on Wednesday, looking to see whether it should get the next tranche of aid.

The appraisal is the first since Cyprus secured a deal with the International Monetary Fund, the European Commission and the European Central Bank in March, pulling the cash-starved country away from the brink of financial meltdown. It dealt a harsh blow to thousands who lost their savings in two major Cypriot banks, however.

Nicosia received a first tranche of aid in June worth 3 billion euros and eurozone finance ministers will decide on whether to issue the next tranche in mid-September, the size of which is yet to be determined.

Cypriot President Nicos Anastasiades said last month that some provisions of the bailout deal needed tweaking to address problems in the islands battered banking sector.

One area of focus for the so-called troika of lenders during the two-week review will be why the central bank has yet to finalize how much equity Bank of Cyprus shareholders will receive in exchange for giving up their deposits, a process known as a bail-in.

Finance Ministry officials are keen to see the resolution settled, worried that the uncertainty it is causing is preventing an easing of capital controls, introduced to prevent a cash flight after the bailout was agreed in March. [Reuters]

ekathimerini.com , Wednesday Jul 17, 2013 (21:32)  
SME minibonds to bypass bank lending
Fitch upgrades Greek banks bond programs
Tanzanias central banks takes over FBME
Trade deficit grows 9.5 pct in Jan-May
Government to push troika for concessions as pressure to meet pledges intensifies
Talks between the coalition leaders last week led to them finalizing the requests that Athens will make regarding the easing of adjustment measures when the troika returns to Greece but Euro...
New Democracy firing staff as it slashes its expenses
New Democracy has begun firing staff from its party headquarters on Syngrou Avenue in Athens as it tries to rein in its spending. Kathimerini understands that 10 members of staff lost their ...
Inside News
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
COMMENTARY
Concrete measures
The governments decision to submit draft legislation on key environmental issues during the Parliaments summer session has raised a fair amount of controversy. Most prominent are the bills...
EDITORIAL
Education needs skills
The Education Ministry has been somewhat unfortunate over the past two years. Other than the myriad problems they have already faced, the politicians who have been appointed to run it contin...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Government to push troika for concessions as pressure to meet pledges intensifies
2. New Democracy firing staff as it slashes its expenses
3. Cypriot president to meet Greek PM during Athens visit
4. Two killed as single-engine plane comes down outside Sparta
5. Cretan priest missing since early July found dead in ravine
6. Search under way for investment firm owner who made off with 1.5 mln euros
more news
Today
This Week
1. Concrete measures
2. Tanzania's central banks takes over FBME
3. Fitch upgrades Greek banks bond programs
4. Education needs skills
5. SME minibonds to bypass bank lending
6. ELSTAT president slams decision to reopen probe
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
6. Quadriplegic woman on life support 'dies due to unpaid power bills'
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.