Tuesday September 16, 2014 Search
Weather | Athens
28o C
21o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus continues talks with troika in Brussels as Eurogroup remains on stand-by

The Eurogroup meeting in Brussels had still not begun at about 11 p.m. Greek time on Sunday after almost four hours of delay and following long and tense discussions between Cypriot President Nicos Anastasiades and European Union and International Monetary Fund chiefs.

Kathimerini understands that the hold-up is being caused by differences between Nicosia and the IMF over the potential merger of Cyprus Popular Bank (Laiki) and Bank of Cyprus following a resolution process. There was a possibility the meeting of eurozone finance ministers would be delayed until Monday morning.

The IMF and Germany insist that after being split into a good and bad bank, “good” Laiki should be merged with Bank of Cyprus and the new lender should then assume liability for the 9 billion euros that Laiki received as Emergency Liquidity Assistance (ELA) from the European Central Bank.

Anastasiades reportedly rejected this proposal and warned Lagarde that he would be forced to resign if the IMF insisted on it.

This extra burden would essentially force a resolution on Bank of Cyprus as well. Nobel Prize winning economist Christopher Pissarides told Cypriot state broadcaster RIK on Sunday that the one thing Nicosia should avoid at all costs was accepting the resolution of the Bank of Cyprus as this would amount to a bankruptcy.

Eurogroup chief Jeroen Dijsselbloem called the other eurozone finance ministers in for a briefing at about 11 p.m. but Cypriot representatives remained locked in talks with the troika.

Eurozone ministers had arrived in Brussels for the talks, which were due to begin at 7 p.m. Greek time but the start was put back several times.

German Finance Minister Wolfgang Schaeuble called for Anastasiades and Cypriot officials to view the challenges facing them “realistically”. “We had an agreement following our negotiations last Saturday but we start again today,” he said.

“There were talks during the week but I am not aware of their outcome. I hope we will be able to reach an agreement, however this demands that Cyprus must see the situation realistically. We are ready for a solution, we want to do everything and not spend every weekend here. It does not depend on us, but Cyprus.”

ekathimerini.com , Sunday March 24, 2013 (23:27)  
Pensions of 60 Greeks halted after they refuse to give AMKA numbers
Drama hospice employee embezzled 170,000 euros from facility
Parents detained after trying to take child after losing custody
Police launch probe into ‘racist’ attack on Greek Armenian
Tripoli´s military airport in Peloponnese to be opened to passenger traffic
A military airfield in Tripoli, in the Peloponnese, will be opened to passenger traffic, according to a joint decision signed on Tuesday by the ministers of Defense, Dimitris Avramopoulos, a...
Pension review has saved state 42 mln euros, alternate finance minister says
A review of the pensions being paid out by the Greek state and new, stricter rules governing pension registrations have led to savings of a total of 42 million euros in the past two years, A...
Inside Business
SOCCER
Olympiakos, Atletico gear up for Champions League opener
A rousing 2-1 La Liga victory at Real Madrid on Saturday may suggest otherwise, but Atletico Madrid is still rebuilding after losing several key players in the close season, coach Diego Sime...
WATER POLO
Greece wins women´s U19 Europeans in water polo
Greece won the women’s European Under-19 Championship in Italy beating the host in Sunday’s final, for what was the country’s second gold medal in the competition’s history. The Greek teenag...
Inside Sports
FOCUS
Democracy´s many guises and challenges
The wilting Arab Spring, conflict in Ukraine, slaughter in Iraq and Syria, citizens not trusting their governments and Europeans losing their enthusiasm for the Union – most places you look ...
COMMENTARY
Lessons not learned
One year since the assassination of rapper Pavlos Fyssas by a member of Golden Dawn in Keratsini, southwestern Athens, we now know a lot more about the activity of the neo-Nazi party’s hit s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Pensions of 60 Greeks halted after they refuse to give AMKA numbers
2. Drama hospice employee embezzled 170,000 euros from facility
3. Parents detained after trying to take child after losing custody
4. Police launch probe into ‘racist’ attack on Greek Armenian
5. Court rules PAO shouldn´t get 7 mln euros for stadium revamp
6. Protesting Finance Ministry cleaners take fight to Strasbourg
more news
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Lessons not learned
3. Promises, promises
4. Golden Dawn candidate found guilty of inciting racist violence
5. Thessaloniki woman arrested for cashing in dead aunt's pension
6. PM to inaugurate new surgery wing at Evangelismos Hospital
Today
This Week
1. A Greek God
2. Greece on standby
3. Avramopoulos appointed Commissioner for Migration and Home Affairs
4. Central Athens traffic restrictions back in force on Monday
5. Pavlos Fyssas murder trial expected to start before the end of the year
6. EU bank tests may miss trillion dollar risk, study finds
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.