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.
LIMASSOL, Cyprus Dec 14 (Reuters) – A Danish-led task force
was being readied in Cyprus on Saturday to remove the first part
of Syria’s deadly chemical stockpile, due before the end of this
Under a deal worked out between the United States and
Russia, Syria will relinquish control of deadly toxins which can
be used to make sarin, VX gas and other lethal agents.
NICOSIA (Reuters) – Former president Glafcos Clerides, a conservative who ushered Cyprus into the European Union but failed in efforts to heal the island’s decades-old ethnic partition, died on Friday, his doctor said. He was 94.
Clerides led Cyprus for two consecutive terms from 1993 to 2003, but was inextricably linked with the island’s fraught modern history since its independence from Britain in 1960.
NICOSIA (Reuters) – International lenders to debt-shackled Cyprus said on Thursday the island was making good progress in meeting the terms of its 10-billion-euro bailout programme, but that output would remain stunted by a rising jobless rate and falling incomes.
They also said a recession this year would be less pronounced than expected at 7.7 percent, but next year’s drop in output would be about 1 percentage point higher at 4.8 percent.
NICOSIA (Reuters) – The embattled head of Cyprus’s central bank was plunged into a new controversy on Wednesday after lawyers alleged foreign consultants employed to help with an international bailout of the country earlier this year were seeking fees of nearly 5 million euros.
Lawyers working for the central bank said the consultants were seeking a fee based on a percentage of the amount raised from the recapitalisation of Cypriot banks in a bailout deal last March.
NICOSIA, Oct 21 (Reuters) – Cyprus expects to lift almost
all currency controls early next year, although restrictions
will remain on individuals shifting funds out of the country,
Finance Minister Harris Georgiades said on Monday.
Separately, central bank governor Panicos Demetriades said
the island’s banks were likely to make further losses in 2014 as
the economy worsens and non-performing loans rise, but that the
sector has enough capital to cope.