Finance minister Michalis Sarris resigned Tuesday after less than five weeks in the job, as the government begins an investigation into how the country’s economy nearly collapsed last month. President Nicos Anastasiades accepted Sarris’ resignation, which came as Cyprus finalized the details of its bailout with international creditors. Harris Georgiades, […]
Tag: Cyprus
Big depositors in Cyprus to lose far more than feared
Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday. Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus […]
Cyprus to limit cash, credit-card use abroad
Cyprus is set to restrict the flow of cash from the island and may curb the use of Cypriot credit cards abroad as it tries to avert a run on its banks after agreeing a tough rescue package with international lenders. A Greek newspaper published details of what officials told […]
