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.
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