Tuesday September 2, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Sarris to continue talks in Moscow after inconclusive first round on Cyprus deal

Cypriot Finance Minister Michalis Sarris has cancelled a news conference due at noon Greek time on Wednesday in order to continue talks with Russian officials in Moscow.

Sarris said on Wednesday morning after talks with his counterpart Anton Siluanov that there had been no decision after a first round of discussions.

"We had a very honest discussion, we've underscored how difficult the situation is," Sarris told reporters as he was leaving after talks with Russian Finance Minister Anton Siluanov.

"We'll now continue our discussion to find the solution by which we hope we will be getting some support."

"There were no offers, nothing concrete... We're happy with a good beginning," he said.

Nicosia has asked Moscow to extend the maturity of an existing 2.5-billion-euro loan, due in 2016, by five years. It is also asking for the 4.5 percent interest rate to be reduced.

Beyond that, there is speculation that Cyprus will ask Russia to contribute towards the recapitalization of at least one local bank. Representatives of the islands most troubled lender, Cyprus Popular Bank (Laiki), are also in Moscow, according to Cypriot state broadcaster RIK.

Cypriot Trade Minister Giorgos Lakkotrypis is also in Moscow.

Russian billionaire and politician Mikhail Prokhorov is reported to have expressed certainty that Russias private sector could help Cyprus tackle its economic problems.

If we think that the economic crisis in Cyprus and the European Union does not affect Russia, we are making a big mistake, he said, according to the Cyprus News Agency.

It is likely the Russians will ask for some form of compensation for such an investment. A naval port in Cyprus for the Russian fleet and access to the countrys natural gas reserves are among the rewards Moscow might seek.

Some reports suggested Russian oil and gas behemoth Gazprom had mooted its own assistance plan, in exchange for exploration rights to Cyprus's offshore gas deposits.

Noble Energy reported a natural gas recovery of 5 to 8 trillion cubic feet of gas south of Cyprus in late 2011, in the island's first foray to tap offshore resources.

ekathimerini.com , Wednesday March 20, 2013 (11:46)  
Greece needs private debt overhaul, Piraeus Bank CEO says
Cheap energy pulls down eurozone producer prices in July
Greece sells 1.14 bln euros of 6-month T-bills, yield eases
New committee formed to assess progress of deregulation in closed-shop professions
Navys Prometheus brings doctors to remote Aegean islands
Naval support ship Prometheus will be touring the Dodecannese in the eastern Aegean from September 3-11 in order to provide residents of remote islands with primary healthcare, the Hellenic ...
Police seeks identity of woman injured in Thessaloniki hit-and-run
Police on Tuesday appealed to the public for help in identifying a woman who was hit by a motorcycle and left suffering serious injuries in Thessaloniki in August. The accident occurred on t...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the peoples favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Navys Prometheus brings doctors to remote Aegean islands
2. Grateful Saviola thanks Olympiakos, joins Verona
3. Police seeks identity of woman injured in Thessaloniki hit-and-run
4. Armed robbers hold up post office in Thessaloniki
5. Greece needs private debt overhaul, Piraeus Bank CEO says
6. Cheap energy pulls down eurozone producer prices in July
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Moderating expectations
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Trial over 2013 murder of pawn merchant starts in Athens
6. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Attack on gay couple in Athens leaves one man needing surgery
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.