“A crime of international dimensions” Former Bank of Cyprus board member Evdokimos Xenophontos testified at the Investigation Committee last week and said that the resolution of the Laiki Bank, the transfer of the “good” Laiki into the Bank of Cyprus, the “fire” sale of the Greek operations of the three Cypriot banks and the bail-in
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Andreas Eliades, the former chief executive of the Bank of Cyprus accused the authorities on Monday of making the bank a scapegoat to cover their own shortcomings in running the island's economy. "If the government had acted to restore fiscal imbalances, even in the first quarter of 2012, the measures would be infinitely less painful
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. By Jim Leontiades The Cyprus International Institute of Management There have been 29 meetings of the Eurogroup to date as the Eurozone leaders try to keep one step ahead of the latest crisis. Many billions have been provided to help member countries survive. Millions of jobs have been lost to “austerity economics”. For the
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. By Fiona Mullen, Director, Sapienta Economics Ltd. The head of the Eurogroup, Jeroen Djisselbloem, said in Germany’s Die Sueddeutsche Zeitung on July 10 that the reason Cyprus had not been given a full bailout like all other countries was because it would have made Cyprus’ debt unsustainable. This is (now) the official Eurogoup line
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. By Rakis Christoforou – BBA, CPA/ABV/CFF, CGMA, ACFE Business valuations are needed determine true real value of a business. If you own a business, it is an important asset and it is vital that you know the value of your business. But how exactly does a business valuation work? Though not quite as easy as
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. 135 days into the Anastasiades “pro-business” administration and we are only now starting to hear what would have been music to our ears a long time ago: that the government has decided to use the ‘fast track’ method to push through its decision for a single, mega-casino resort. Trouble is, despite all the grandiose
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. The Risk Watch Column: By Dr Alan Waring In November 2009, the Financial Mirror published a Risk Watch article of mine entitled “Casinos: A Sure Bet?” in which I laid out the pros and cons and the risk issues of legalising casinos in the government-controlled areas of Cyprus. I advocated making a well-considered examination
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The government announced last Thursday it would issue a single licence for a mega casino resort in an attempt to diversify its tourism product and attract foreign investment, while helping to reduce the island’s runaway unemployment. Government spokesman Christos Stylianides said after the Cabinet meeting that the authorities planned to issue a licence for a
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* FXTM founder says forex industry could offer best solution out of crisis * Andrey Dashin has lived in Cyprus for many years, becoming part of Limassol’s fast-paced forex trading community, establishing a name by creating the Alpari Family brand. For the past six months, he has been busy with his new wholly-owned venture, ForexTime
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‘Banana Skins’ poll pinpoints key concerns for insurers The greatest risk currently facing the insurance industry comes from the wave of new regulations which are being introduced at international and local levels, according to a new survey which ranks insurance sector risk. The CSFI’s latest Insurance Banana Skins survey, conducted in association with PwC, says
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