Monday October 20, 2014 Search
Weather | Athens
24o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Anastasiades speaks of a fait accompli

Cypriot President Nicos Anastasiades spoke on Saturday of a ready-made decision imposed on Nicosia in the form of a blackmail: Take it or have the eurozone crumble, in the wake of the bailout package offered to Cyprus amounting to 10 billion euros, with terms such as a haircut to Cypriot bank accounts and the rise in interest and corporate taxation.

In a written statement he issued on Saturday afternoon, Anastasiades said “Cyprus came across a previously made decision, a fait accompli.” In his defense he said that the emergency situation “did not arise in the last 15 days that we have undertaken the country’s administration.”

He added that without the bailout both main banks of the country would crumble on Tuesday and his government would have to compensate depositors, eventually leading to a possible exit from the euro and a currency devaluation of 40 percent.

Anastasiades will issue a televised message to the Cypriot people on Sunday.

In Athens a Greek Finance Ministry official confirmed to Kathimerini on Saturday that “all three Cypriot banks active in Greece [Bank of Cyprus, Cyprus Popular and Hellenic] will have their Greek branches absorbed by a Greek credit institution.”

He stopped short of naming the Greek lender to absorb them, although source say this may be state-owned Hellenic Postbank.

ekathimerini.com , Saturday March 16, 2013 (20:23)  
Athens calls on Ankara to ‘reverse course’ over Cyprus EEZ
Magistrate, prosecutor disagree over handling of driver in deadly crash
Ex-party leader to see prosecutor on Tuesday over bribe allegations
PASOK objects to plans for changes to public sector wage structure
German bunds rise on sata seen adding to gloom; Greek bonds gain
German government bonds rose for the first time in three days before reports that economists said will add to signs Europe’s economic recovery is grinding to a halt, boosting demand for fixe...
ECB review will clarify Greece´s needs, says Regling
A review of the European banking sector due to be released on Oct. 26 should bring clarity on Greece's funding needs, the head of the monetary union's bailout fund said on Monday. Klaus Regl...
Inside Business
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
SOCCER
OFI stuns Panathinaikos, Mitroglou hits twice
OFI Crete produced the upset of the week in Greek soccer beating Panathinaikos in Athens for only the second time in its history on Sunday, while PAOK stayed on top beating Atromitos at home...
Inside Sports
COMMENTARY
Stop moaning and get in the game
There are so many people who love spending their days talking about the crisis and proclaiming that they know exactly what needs to be done to solve the country’s problems. Some of them obvi...
EDITORIAL
Exorcising the ghosts
Developments last week held in store an uncomfortably realistic understanding of the risks engulfing the country. The massive sell-off in Greece’s stock and bond markets was a strong shock. ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens calls on Ankara to ‘reverse course’ over Cyprus EEZ
2. Magistrate, prosecutor disagree over handling of driver in deadly crash
3. German bunds rise on sata seen adding to gloom; Greek bonds gain
4. ECB review will clarify Greece´s needs, says Regling
5. Ex-party leader to see prosecutor on Tuesday over bribe allegations
6. PASOK objects to plans for changes to public sector wage structure
more news
Today
This Week
1. Greece must stick to reforms, says Schaeuble
2. Bakers encircle Thessaloniki's White Tower with giant 'koulouri'
3. Hardouvelis does not see 'big surprises' in ECB stress tests
4. European leaders pivot back to debt crisis after wake-up call
5. Turkish vessel enters Cypriot Exclusive Economic Zone
6. Samaras to visit Cyprus on November 7, ahead of Egypt talks
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Less haste, more focus
3. Greece to contribute 1 mln towards Gaza reconstruction
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Istanbul skyscraper casts shadow over Greece's banking ambitions
6. Coalition shooting itself in the foot
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.