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  • September 24, 2014
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  1. News - World - Cyprus

    Cyprus in ‘superhuman effort’ to reopen banks

    Posted Mar 26th 2013, 10:59pm by Agence France-Presse

    ... of the EU-IMF rescue package Cyprus warned that “superhuman” efforts were needed to reopen its banks by Thursday as protests and uncertainty about the island’s top lender showed that its huge bailout ... rallied against the terms of the EU-IMF rescue package. Banks were shut for an 11th day, leaving homes and businesses on the Mediterranean island short of cash – and there were growing doubts ...

  2. Business - Economy

    IMF releases first bailout funds for Cyprus

    Posted May 16th 2013, 01:06pm by AFP

    ... government. The loan is part of a combined US$13 billion (HK$100.9 billion) emergency financing deal set by the IMF and the European Stability Mechanism that aims to support the government as it seeks ... to preserve the welfare of the population,” the IMF said in a brief statement. IMF Managing Director Christine Lagarde said that stabilising the banking sector was an “immediate priority.” “The ...

  3. Business - Economy

    Cyprus MPs to debate ’difficult’ bailout deal

    Posted Apr 30th 2013, 12:02pm

    ... The Cypriot parliament begins a debate later on Tuesday on a 10-billion-euro (HK$101.5 billion) EU-IMF bailout which Finance Minister Haris Georgiades has described as a tough but necessary measure that has to be ratified without delay. Speaking on the eve of the parliament meeting, Georgiades warned that without a positive vote on the bailout deal, the eastern Mediterranean ...

  4. Business - Economy

    Last-minute deal resurrects Cyprus bailout

    Posted Mar 25th 2013, 10:22am by AFP

    ... Agence France-Presse in Brussels EU and IMF officials struck a last-minute deal with Cyprus early Monday to resurrect a bailout for the island- but one banking chain goes to the wall ... for Cyprus,” the president had said via Twitter going into Sunday evening’s talks. Anastasiades met first with ECB head Mario Draghi, IMF managing director Christine Lagarde, EU president Herman Van ...

  5. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... billion euros of the 5.8 billion euros the EU and IMF had told Cyprus to raise as a contribution to the bailout, Dutch Finance Minister Jeroen Dijssebloem said. Cyprus government spokesman ...

  6. Comment - Insight & Opinion - MY TAKE

    Malaysian PM was ahead of his time

    Posted Mar 27th 2013, 12:00am by Alex Lo

    ... the (un)holy gospel of Washington, London, the IMF and the World Bank. Now the Cypriot government is expected to impose capital curbs as part of the rescue package sanctioned by the so-called troika of the European Commission, European Central Bank and IMF. Measures will include restrictions on bank withdrawals severe enough that they may limit the ability of people to take money aboard. Umm, ...

  7. Business - Banking & Finance

    Cyprus president demands bailout decision on Thursday

    Posted Mar 21st 2013, 10:58am by AFP

    ... aimed at securing an EU-IMF bailout for the Mediterranean island. The CNA news agency said Thursday “is expected to be a difficult day” and went on to quote government sources as saying ... had been discussed during the cabinet meeting after parliamentarians rejected the terms of an EU-IMF bailout as “blackmail”. The Cypriot authorities have spent the day in frantic talks, after ...

  8. News - World - Cyprus

    Cyprus to present redrafted bailout 'Plan B'

    Posted Mar 20th 2013, 09:51pm by Agence France-Presse

    ... Thursday with a Plan B at the presidential palace, aimed at securing an EU-IMF bailout for the Mediterranean island. The CNA news agency said Thursday “is expected to be a difficult day” and went ... a levy on bank deposits over 100,000 euros which had been discussed during the cabinet meeting after parliamentarians rejected the terms of an EU-IMF bailout as “blackmail”. The Cypriot ...

  9. Business - Economy - Cyprus

    Cyprus bailout cost jumps in threat to teetering economy

    Posted Apr 12th 2013, 01:56am by AFP

    ... Agence France-Presse in Nicosia Cyprus confirmed on Thursday that the cost of its EU-IMF bailout has surged to 23 billion euros (US$30 billion) from 17.5 billion euros, putting the already ... reached on March 25 in order to secure an EU-IMF contribution of 10 billion euros. Under the preliminary terms of a bailout agreed last month, Cyprus will drastically reduce the size of its ...

  10. Comment - Insight & Opinion

    Asia at risk if insolvencies hit euro zone

    Posted Apr 08th 2013, 12:00am by DAN STEINBOCK

    ... Dan Steinbock Dan Steinbock warns that the post-Cyprus fallout is adding to Europe's existing challenges Asia won't be spared the bill if insolvencies hit struggling euro zone According to IMF data, central banks in emerging economies cut their euro holdings by 8 per cent, or €45 billion (HK$450 billion) in 2012. The world economy is moving towards a multipolar currency ...




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