Saturday Jul 26, 2014 Search
Weather | Athens
32o C
23o 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 countrys 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)  
MP steps in to get power back on at invalids home
Civil servants who changed contracts to undergo checks
Coalition hopes to avoid restoring armed forces wages in full
Italy adds to calls for FYROM name row to be solved
Trade deficit grows 9.5 pct in Jan-May
Greeces trade deficit recorded a 9.5 percent increase in the January-May period this year compared with the first five months of 2013, data compiled by the Hellenic Statistical Authority (E...
Number of 5-star hotel rooms rises 31.4 percent in four years
The number of rooms at five-star hotels in Greece rose by 31.4 percent from 2009 to 2013, according to a survey conducted by the Research Institute for Tourism of the Hellenic Chamber of Hot...
Inside Business
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
TALK
What lessons can we draw from antiquity?
Our theme is limits. And we are gathered here at this limit of Europe, close the to sea: the limitless, the boundless. And we face all sorts of limits. There are the limits of knowledge fa...
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the countrys fate since then are unable to act their age. For decad...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Trade deficit grows 9.5 pct in Jan-May
2. Number of 5-star hotel rooms rises 31.4 percent in four years
3. Greeks get slightly less downbeat
4. Banks reluctant to issue credit
5. MP steps in to get power back on at invalids home
6. Civil servants who changed contracts to undergo checks
more news
Today
This Week
1. Greek coast guard picks up 77 migrants off Myconos
2. Draghi safety net becoming blindfold as bonds soar
3. Aegean Airlines resumes flights to Tel Aviv
4. Godfather, 35, shot at Karditsa christening dies
5. Police report points to less crime in 2014
6. Thousands of dead fish surface in Lake Pamvotis
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
6. Quadriplegic woman on life support 'dies due to unpaid power bills'
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.