A credible mechanism is needed for recapitalising euro zone banks and improving oversight in order to address the economic challenges facing the region, European Central Bank President Mario Draghi said on Thursday.
Demand for safe-haven assets kept German bond futures near record highs on Thursday, while European shares and the euro regained some stability although worries over Spain and its troubled banks are weighing
The Conference of Presidents of the European Parliament, consisting of the President of the Parliament Martin Schulz and the presidents of the political groups, convenes Thursday in Nicosia, in view of the
The government remains committed to achieving necessary structural changes and fiscal targets set, so that a return to growth is possible, Cyprus Ministry of Finance has said on Wednesday. A ministry press
Minister of Labour and Social Insurance Sotiroula Charalambous has handed over to the Cyprus Airways Board of Directors and the employees union on Wednesday the government’s plan for the company’s restructuring. A
The flow of deposits in the domestic banking system continued in April for the third month running, according to data released by the Central Bank of Cyprus. The Bank announced on Wednesday
Cyprus should take additional measures to reduce government spending and reform the health and pensions sectors in order to meet a national stability programme and for the economy to return to a
Ten years ago Cyprus was enjoying full employment and Germany was struggling with high jobless rates. Ten years later, Cyprus's unemployment has hit 10% and Germany's is just 5.6%. This could be
France will miss its deficit goal next year without additional spending cuts and tax reforms, the European Commission said on Wednesday, sending a message to new French President Francois Hollande that his
* Minimal impact from Greece * Hellenic Bank, the third largest lender in Cyprus where the Church has a significant stake, reported 8 mln euros in net profits for the first quarter,
