Saturday Jan 31, 2015 Search
Weather | Athens
16o C
13o 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)  
Tsipras says Greece to repay ECB, IMF, reach deal with euro area
Greece seeks EU allies but Germany holds firm
Merkel rejects debt writedown for Greece
US to work closely with Greece and EU to resolve differences, says White House
ECBs Constancio signals Greek waiver may end if program dropped
Vitor Constancio signaled that the European Central Bank stands ready to end its acceptance of Greeces junk-rated debt for bank funding if the government drops out of an aid program. If a n...
Greece starts countdown to cash crunch saying bailout over
Finance Minister Yanis Varoufakis set the clock ticking on Greeces standoff with the euro area on Friday saying hes ready to take his chances without a financial backstop rather than submi...
Inside Business
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldnt buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
INTERVIEW
SYRIZA must come up with pragmatic solutions, Schulz tells Kathimerini
SYRIZA must realize that it is now the Greek government, not a party running an election campaign, European Parliament President Martin Schulz, the first European official to visit Greece ...
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. ECBs Constancio signals Greek waiver may end if program dropped
2. Greece starts countdown to cash crunch saying bailout over
3. How Greece can run out of cash and what ECBs Draghi can do
4. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
5. Varoufakis to meet French counterpart on Sunday
6. No lending to Greek banks if no deal by end of February: ECBs Liikanen
more news
Today
This Week
1. US to work closely with Greece and EU to resolve differences, says White House
2. Greek bank debt plummets as investors head for the exit
3. Merkel rejects debt writedown for Greece
4. Greek markets plunge as SYRIZA digs in on challenge to austerity
5. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
6. Greece seeks EU allies but Germany holds firm
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. SYRIZA's win will test institutions
5. Greek Elections 2015: The day after | LIVE
6. EU must accept that Greek debt relief is inevitable
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.