‘Government must act quickly to meet deadline’

Published on 12 August 2013 at 10:33


The Cypriot government has until August 28 to propose to parliament 14 new measures aimed at obtaining the new tranche of financial aid from international creditors, worth a total €1.5bn, to be released on September 13. The aid package concerns recapitalising the country’s cooperative banks, scheduled for October.
The measures proposed, explains Cypriot daily O Phileftheros, include forbidding board members of the cooperative banks to obtain loans from those same banks and the nomination of the board members for the Bank of Cyprus, one of the institutions at the heart of the Cypriot banking crisis.

Was this article useful? If so we are delighted! It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans. Discover our membership offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic