Thursday August 28, 2014 Search
Weather | Athens
31o C
24o 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 island’s 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 Russia’s 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 country’s 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)  
Less property tax in the future, says finance minister
New development bank mulled
Bridge on Tripoli-Kalamata highway nears completion
Greece likely to miss Eurostat deadline for reassessed figures
Minister sees no need for university dismissals
Education Minister Andreas Loverdos indicated on Wednesday that he would go against government policy and refuse to fire any university administrative staff. Loverdos said that an evaluation...
Visitor numbers to Greece´s most important sites and museums grow
Culture Ministry figures indicate a significant increase in visitors to some of the country’s 38 most important archaeological sites and museums in the second quarter of this year, an improv...
Inside News
SOCCER
Ranieri brings in new faces for his first Greece squad
New Greece coach Claudio Ranieri announced Wednesday a 24-man squad for the first Euro 2016 qualifier against Romania at home on September 7. Earning a first time call up were Olympiakos 21-...
SOCCER
Roma signs Greece defender Manolas from Olympiakos for 13 mln
Greece international Kostas Manolas has joined Roma on a €13 million ($17 million) transfer from Olympiakos, as coach Rudi Garcia looks to strengthen his worrisome defense before Serie A sta...
Inside Sports
COMMENTARY
Diplomacy, not dogmatism
A friend who moves comfortably within the circles of the European establishment recently described a particularly interesting experience when he found himself in a discussion behind closed d...
EDITORIAL
Preachers of hatred
Engaging in public dialogue regarding whether the anti-racism bill is mandatory and sensible is both legitimate and necessary at this current point in time. In the meantime, however, regardl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Less property tax in the future, says finance minister
2. Minister sees no need for university dismissals
3. New development bank mulled
4. Visitor numbers to Greece´s most important sites and museums grow
5. Coalition leaders brief ministers on strategy for troika talks
6. Jailed terrorist was preparing bomb, police say
more news
Today
This Week
1. ND gains one deputy as ousted MP sworn in Lamia mayor
2. Draghi soothes bond market after summer of strife
3. Ryanair to submit bid for Cyprus Airways
4. Venizelos hails Gaza ceasefire
5. ND honorary president taken to hospital
6. Bishop Vartholomaios of Megara and Salamina dies
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Logged out of reality
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Attack on gay couple in Athens leaves one man needing surgery
5. Second man held over double murder in Mani
6. Purification rituals
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.