Cypriot president commits to save provident funds

Last night the president of Cyprus announced to the people of Cyprus the proceedings of the latest Eurogroup meeting. The meeting in Brussels tackled a difficult mission which according to him had only one target. To save Cyprus through the stabilization and reconstruction of the banking sector. Mr Anstasiades stated that the negotiations was indeed very harsh and there were some […]

ATM limit to 100 – 120 euro

The Laiki bank and Bank of Cyprus ATM’s have a withdrawal limit of 100 and 120 euro respectively. According to the Cyprus news Agency the press representative of Laiki bank Costas Archimandritis confirmed the news.

Government employees sit around doing nothing and get promoted

Reading the Cyprus government gazette  (latest issue 22/03/2013) one can see a large list of government employee promotions… Considering the resent dilemma of whether to impose a hair-cut or levy on Cypriot bank deposits and with 8000 bank employees marching the roads yesterday, it is quite ironic how these things are still happening and Cypriots do nothing about it. Read page 2 of the issue The parliament voted for several anti-human right legislations the past […]

The new Legislation proposal for Cyprus

The Cyprus parliament is gathering to vote for a new legislation this afternoon which aims to provide means of control to prevent the bank run when the Cyprus banks open on Tuesday here are the main points Cash withdrawal limits Restriction to the breaking of fixed deposits Compulsory renewal of expired term (fixed) deposits Restriction […]