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Cypriot economy

Cyprus: Central Bank Reports Increase of Investment Fund Assets by 8%

The total assets of investment funds increased by approximately 8% to €2.928 million in June 2016, compared with €2.712 million in March 2016, Central Bank statistics show. The Central Bank said that this is "due to the increase of the...

Cyprus to Complete Adjustment Programme in March Says FinMin

Cypriot Finance Minister Harris Georgiades sent a message of optimism with regard to the Cypriot economy, pointing out that Cyprus will complete its adjustment programme in March. On Monday, speaking before the European Parliament`s Economic and Monetary Affairs Committee in...

Eurobarometer: More Cypriots Respond Favorably to the Euro As Country's Currency

Cyprus' support of the common currency rose by 8% to 50%, a few months before the island's 10 billion euro financial assistance program concludes in March of 2016. According to a Eurobarometer  survey issued by the EU Commission, 50% of Cypriot respondents said...

The Mousetrap of Banking

Pick up a stone off the ground, turn it upside down and you will soon discover another thriving virus of corruption lurking under it. To the dismay of citizens, a fine web of dishonesty has deeply infiltrated into the...

Cypriot President: Economic Adjustment on Track Despite Review Delay

Cyprus' President Nicos Anastasiades appeared confident yesterday that despite the delay in concluding the fifth economic review due to the Parliament’s suspension of the controversial foreclosures bill, the country remains on track of its adjustment program. “We remain committed...

Central Bank of Cyprus Governor: Cyprus Will Return to Growth in 2015

Cyprus is expected to return to growth in 2015, while the capital control imposed by the bailout program signed in 2013 can soon be dismantled, Central Bank of Cyprus Governor Chrystalla Georghadji said before the parliament's financial affairs committee...

Dear Mr President – Vanishing Cyprus

Dear Mr. President, with all due respect, things in Cyprus are not going as well as you so passionately promised. Your election campaign-pledges never actually materialized. We are sure you meant well but somewhere along the way your party-dogmatism...

Cyprus Requests Aid from European Bailout Fund

Cyprus formally requested aid from Europe's bailout fund Monday as it scrambles to shore up its banking system that has been hurt by Greece's debt crisis. "The government of the Republic of Cyprus has today informed the appropriate European authorities...