Cyprus remains the EU country with the highest stock of non-performing loans (assets) of the general government at 20.2% of GDP, according to Eurostat data. This was due to a large transaction
A prudent fiscal stance is necessary to maintain buffers to enable government support to the vulnerable during the current energy crisis, warned Finance Minister Constantinos Petrides. “In this new era, we should
Cyprus will not be seriously affected by an energy supply crunch tied to the war in Ukraine threatening to cause widespread blackouts across the European Union this winter, say analysts. Nevertheless, as
EU leaders on Friday met in Prague in a bid to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia’s war on Ukraine, with
Europe’s energy crisis will not just be for this winter. Europe is expected to face similar problems next winter and probably beyond, driven by tight global gas supply and increasing competition for
Consequences of geopolitical events to the economy and banking sector have been contained, but the second-round effects are unknown, said Cyprus Central Bank governor Constantinos Herodotou. He argued that uncertainty in an
Unfortunately, as we leave summer behind and prepare for winter, the global energy crisis worsens. The situation has shifted from one requiring urgent attention to one that could push the EU into
A labour crisis in the banking sector seems to be averted as Hellenic Bank has taken a step back from its plans to reduce staff with redundancies without compensations. Hellenic CEO Oliver
The financial crisis that hit Cyprus in March 2013 affected the lives of most families in Cyprus, including mine. I was very young then, but I understood something was seriously wrong. Growing
Unsettling news for Cypriots consumers as the Cyprus Fiscal Council’s spring report claims the cost of living will continue to rise throughout the year, with fuel prices also staying high. According to
