Sunday September 21, 2014 Search
Weather | Athens
27o C
19o 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)  
Record sum of new debts to the state in August
‘Greece can meet its needs on its own’
Cyprus civil servants´ strike called off
Elliniko investors eye Cyprus project warily
Results of probe into 20 Lagarde list names due soon
Members of the Financial Crimes Squad (SDOE) and tax inspectors involved in an investigation into the so-called Lagarde list of Greeks with Swiss bank accounts expect to be able to announce ...
Police refute reports of Jihadi training
Greece is not a training ground for Jihadis, the Greek police said in a statement released late on Friday in response to reports in the local media claiming that radical Islamists have been ...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
Universities threatened by transfers
The problem arising from the abuse of the Greek university transfer system – whereby some students are allowed to move to an institution of their choice instead of the one they were admitted...
EDITORIAL
Capital changes
A sizable part of the middle of the Greek capital has been slated to receive a significant makeover with the implementation of an urban restructuring project which includes turning a key cit...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Results of probe into 20 Lagarde list names due soon
2. Police refute reports of Jihadi training
3. Gov’t drafts plan to secure exit from memorandum
4. Greek commuters have relatively long wait
5. IKA uncovers benefits scam at Kerameikos branch
6. Man dies in well accident
more news
Today
This Week
1. ‘Greece can meet its needs on its own’
2. Record sum of new debts to the state in August
3. Results of probe into 20 Lagarde list names due soon
4. Police refute reports of Jihadi training
5. Gov’t drafts plan to secure exit from memorandum
6. Special guard arrested over extortion, bribery
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. ‘Greece can meet its needs on its own’
6. Record sum of new debts to the state in August
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.