Tuesday April 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurogroup chief: Cypriot economy to recover ‘in short period’

Eurogroup chief Jeroen Dijsselbloem said on Monday he was confident that Cyprus’s bailed-out economy will recover in a “short period of time” despite the harsh haircut slapped on savings.

The Dutch finance minister was visiting the eurozone member one year after a controversial bailout deal which saw an unprecedented haircut on deposits over 100,000 euros to secure emergency funding to save a bankrupt economy.

“The economy of Cyprus has shown [it is]... dynamic and flexible, therefore I’m optimistic Cyprus will recover in a short period of time,” said Dijsselbloem, who heads the eurozone’s finance ministers.

“The Cyprus government is fulfilling all its commitments so the trust will come back,” he added.

Tough austerity measures have also seen unemployment sky-rocket to record levels above 17 percent, while recession-hit Cypriots have endured tax hikes and pay cuts.

“We fully realize the effects the measures have had on the short-term economy and the lives of the people,” Dijsselbloem told reporters after meeting his Cypriot counterpart, Haris Georgiades.

“These are difficult times, difficult, yet inevitable measures... but there is a new perspective for the economy and people of Cyprus,” he added.

On the haircut, Dijsselbloem said: “I think that it was very harsh. I fully realize that, but it was also inevitable in view of the specific situation of the banking system in Cyprus.”

[AFP]

ekathimerini.com , Monday March 31, 2014 (19:52)  
Holiday levy plans outrage professionals
U-turn on ENFIA and threshold
Extension to pension fund debt deadline
Nicosia raises 1 bln euros in second post-bailout issue
Gov’t drafts multi-bill in hope of quick payment
The cabinet is expected to meet Thursday to discuss the details of a reform multi-bill the government is preparing in the hope that it will accelerate the conclusion of negotiations with len...
Generic drug brands allowed in prescriptions
Doctors are now being allowed to recommend specific generic drugs when they issue prescriptions, in what the government says is a move designed to increase the use of this form of medicines ...
Inside News
BASKETBALL
Rethymno defeats in-form AEK on Crete
AGO Rethymnou put an end to a positive string of results for in-form AEK, while PAOK survived a strong challenge by Kolossos Rhodes in Thessaloniki in yet another exciting weekend of basketb...
SOCCER
Panathinaikos beats Xanthi to rise to second
Panathinaikos jumped back up to the second spot of the Super League after its home win over Xanthi on Saturday, as PAOK slumped to third due to its draw at home with PAS Giannina on Sunday. ...
Inside Sports
COMMENTARY
The Good, the Bad and the Ugly
It is so exhausting and unpleasant for average Greek citizens to keep hearing for weeks now that the country’s cash reserves will run out in two months, one month, next week, and especially ...
EDITORIAL
Better late than never
Three precious months were lost in the government’s negotiations with the country’s international partners and creditors, as some of its officials wasted time on their own self-promotion, ha...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Holiday levy plans outrage professionals
2. U-turn on ENFIA and threshold
3. Extension to pension fund debt deadline
4. Gov’t drafts multi-bill in hope of quick payment
5. Generic drug brands allowed in prescriptions
6. Nicosia raises 1 bln euros in second post-bailout issue
more news
Today
This Week
1. The Good, the Bad and the Ugly
2. Creditors to demand extra measures of 3 bln euros
3. Plan on the cards for flat VAT rate of 18 pct
4. Greek PM says people may have to rule on creditor deal [Update]
5. Greek PM says initial deal in bailout talks 'very close'
6. No trolley buses from 11 a.m. to 4 p.m.
Today
This Week
1. Greek government's popularity takes a hit as talks drag on
2. Denialism
3. Europe's collision course with Greece
4. It's up to the Greek government to ensure deal with lenders, says ECB's Coeure
5. Leaving the past in the past
6. Greece’s day of reckoning inches closer as debt payments loom
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.