NICOSIA (Reuters) – Any escalation in the Ukraine crisis poses a threat to Cyprus’s economy, the outgoing governor of the country’s central bank said in an interview, noting that he expects the bailed-out euro zone member to return to growth in 2015.
Panicos Demetriades, who participated in talks which saved Cyprus from bankruptcy a year ago, said lenders underestimated the resilience of the island’s economy, one of the smallest in the 17-member currency zone. He also said he anticipated capital controls could be fully lifted this year.
NICOSIA, March 11 (Reuters) – Cyprus’s auditor general was
appointed on Tuesday to head the island’s central bank,
replacing an academic who quit amid acrimony with the government
over a chaotic international bailout last year.
Chrystalla Georghadji, whose hard-hitting annual reports on
lapses in public administration have been the bane of several
governments, takes up her post on April 11, after outgoing
governor Panicos Demetriades works out his notice.
NICOSIA (Reuters) – Cypriot Central Bank governor Panicos Demetriades, whose testy relations with the island’s government dogged a tumultuous tenure when Cyprus teetered on the brink of bankruptcy, resigned on Monday.
President Nicos Anastasiades, who had been pressing for Demetriades’s departure ever since last year’s banking collapse and international bailout, accepted his resignation, an official statement said. Demetriades will work out his notice until April 10.
NICOSIA (Reuters) – Cypriot Central Bank governor Panicos Demetriades, whose testy relations with island’s government dogged a tumultuous tenure when Cyprus teetered on the brink of bankruptcy, resigned on Monday.
Demetriades’s resignation was accepted by President Nicos Anastasiades, an official statement from the Cypriot presidency said. Demetriades will work out his notice until April 10.
NICOSIA (Reuters) – Cyprus re-submitted a controversial privatization law to parliament on Friday in a last-ditch attempt to win support from fractious lawmakers threatening to derail its international bailout program.
The island’s opposition-dominated parliament threw out a proposed roadmap for the sale of state assets on Thursday. The ‘No’ vote raises the risk the island will be plunged back into fiscal turmoil just a year after the 10 billion euro lifeline from the European Union and IMF pulled it back from the brink of default.
NICOSIA (Reuters) – International aid to cash-starved Cyprus was thrown into turmoil on Thursday after its parliament rejected a privatization plan, throwing into disarray the disbursement of a new tranche of financial assistance next month.
The rejection dealt an unexpected setback to an administration that has gained plaudits in three reviews from its borrowers, the International Monetary Fund and the European Union, for meeting bailout commitments.
NICOSIA Feb 24 (Reuters) – Workers at Cyprus’s state
electricity utility clashed with police in a rare explosion of
anger on Monday over government privatisation plans under a 10
billion euro international bailout.
In a rowdy protest at parliament, around 300 to 400
demonstrators burst through police barricades in central Nicosia
while lawmakers were debating provisions of a privatisation law
with the island’s finance minister.
NICOSIA (Reuters) – Leaders of ethnically split Cyprus agreed to press anew to forge a system of power sharing on Tuesday to end a bitter and long-running conflict that is frustrating Turkey’s hopes of joining the EU and complicating its relations with Greece.
Representatives of the island’s two largest ethnic groups, Greeks and Turks, said they would relaunch talks to create a two-zone federation reuniting the island, which has been split for decades.
NICOSIA (Reuters) – Leaders of ethnically split Cyprus agreed to work towards a new system of power sharing on Tuesday, in a bid to end a bitter and long-running conflict frustrating Turkey’s hopes of joining the EU and complicating its relations with Greece.
Representatives of the island’s two largest ethnic groups, Greeks and Turks, said they would seek to forge a two-zone federation reuniting the island, which has been split for decades.
NICOSIA (Reuters) – Peace talks resume in divided Cyprus on Tuesday in a fresh attempt to end one of Europe’s most enduring conflicts and a decades-old obstacle to Turkey’s hopes of joining the European Union.
Leaders of the island’s rival Greeks and Turks are due to meet in no-mans-land, at an airport compound in the capital Nicosia that was abandoned in past fighting and is now used as a base for the United Nations peacekeeping force. It will be their first formal encounter for almost 18 months.