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Michalis Sarris

Cyprus Finance Minister: Uninsured Laiki Depositors Could Face 80% Haircut

Cyprus΄s finance minister said Tuesday that large deposit holders at Cyprus Popular Bank PCL (CPB.CP), the island΄s second biggest lender, could face losses of as much as 80% on their deposits as the government moves to wind down its...

Turkey May Dispute Cypriot Gas Reserves

Cyprus' hopes of using potential gas reserves as a bargaining chip to trigger an international bailout is hitting an obstacle in Ankara as Turkish officials said they may challenge any move to do so, the news agency Reuters reported. The...

Finance Minister of Cyprus Resigns Over Financial Crisis

Michalis Sarris, the Cypriot Finance Minister, has resigned on Tuesday. Only three weeks into the job and taking the blame for failing to stand up to Eurozone demands to force the confiscation of up to 9.9 percent of Cypriot bank...

Former Cyprus FinMin Sarris Released on Bail

Former Finance Minister of the Republic of Cyprus Michalis Sarris was released on bail yesterday, after paying ca. €47,000 to the court of the Turkish-occupied part of the island. Sarris is facing four charges: conspiracy to commit a felony, committing...

EU Lawmaker Asks the Repeal of Anti-Gay Law in Northern Cyprus

EU legislator Marina Yannakoudakis asked the repeal of an anti-gay law in the Turkish occupied North Cyprus while meeting with Turkish Cypriot leader Dervis Eroglu. Mrs. Yannakoudakis, a Conservative Party member of the European Parliament for London raised the issue...

Former Cyprus Finance Minister Arrested for Sex Scandal

Former Finance Minister of the Republic of Cyprus Michalis Sarris was arrested yesterday in Turkish-held North Cyprus, charged of  having sex with minors, said police spokesman Michalis Katsounodos. The Cypriot official was arrested while joining a same-sex party in a...