The Council of Europe Parliamentary Assembly (PACE) adopted here Wednesday a resolution by which it welcomes the resumption of fully-fledged negotiations between Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat, with a view to reach a settlement of the protracted Cyprus question. The Assembly commended ‘the political will and determination shown by
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President of the Republic of Cyprus Demetris Christofias has said here Wednesday that the Greek Cypriot side pursues the peaceful reunification of the island on the basis of a bi-zonal, bi-communal federation. He was speaking after the military parade in Nicosia to honour the 48th anniversary of the nation’s independence. Christofias, flanked by Greek National
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President of the Republic of Cyprus Demetris Christofias has said on Wednesday that he is waiting for the response of the Turkish occupation army to his proposal for the abolition of military manuevres. Addressing the Parliamentary Assembly of the Council of Europe on Tuesday, Christofias revealed that during his meeting with UN Secretary-General Ban Ki-moon
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Cyprus is too small to be divided and big enough to accommodate all its children, President of the Republic of Cyprus Demetris Christofias stressed here Tuesday. In an address to the nation, on the 48th anniversary since independence from British colonial rule, the President remarked that a reunited Cyprus can become the common house of
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U.S. securities regulators gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and the latest round of bank failures. The U.S. stock market added to gains on the news, in hopes that regulators' new interpretation of fair value,
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Britain wants Ireland to look closely at its guarantee of all deposits in Irish banks to make sure it complies with European Union competition law, a spokesman for Prime Minister Gordon Brown said on Wednesday. More generally, he said, European governments should make sure that whatever actions they took to tackle the global financial crisis
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The European Commission approved on Wednesday a rescue plan for British mortgage-lender Bradford & Bingley, part of European efforts to limit contagion from the financial crisis. British authorities notified the EU's state aid regulator on Tuesday of their 50-billion-pound ($89 billion) purchase of Bradford & Bingley's mortgage portfolio and the sale of its deposits and
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British interest rates will fall this year, possibly as soon as this month, as the Bank of England tries to energise an economy in stagnation despite high inflation, a Reuters poll showed. Forty-five of 66 economists polled Sept. 29-Oct. 1 said the Bank of England would hold rates at 5.0 percent when it meets next
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The EU needs stronger European financial supervision and greater consistency in national deposit guarantee schemes to stabilise the financial system, European Commission President Jose Manuel Barroso said. Barroso said the existing system of regulation, based largely on national governments and regulators, could cope with the current crisis, but the European Union needed to go further
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European policymakers urged the U.S. Senate on Wednesday to approve a revised $700 billion financial rescue plan aimed at tackling the worst financial crisis since the 1930s. The contagion stemming from risky home loans has toppled Wall St firms, frozen lending among global banks, and overshadows campaigning as Americans prepare to vote for their next
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