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A CYPRIOT MINISTER has admitted his country’s two main banks may never re-open, after the troika of European and IMF lenders rejected a ‘plan B’ put forward by Cyprus for its €10 billion bailout.
Interior minister Socratis Hasikos said discussions with EU-IMF creditors last night, following the rejection of a controversial tax on bank deposits by the national parliament, had not been fruitful.
“The troika does not accept our Plan B,” Hasikos told Greece’s Mega television.
Essentially, [the Troika said] that Bank of Cyprus and Cyprus Popular Bank most likely will not reopen… at first sight we have a [Troika] refusal.
Cyprus is scrambling to secure funding for its banks by soliciting Russia, the church and state institutions for cash.
With banks closed and fears growing of a forced exit from the Eurozone, president Nicos Anastasiades huddled with party leaders and financial experts trying to track a way out of the island’s worst crisis since the 1974 Turkish invasion.
The meeting comes a day after lawmakers flatly rejected a highly unpopular measure that would have slapped a one-time levy of up to 9.9 per cent on bank deposits as a condition for an EU-led €10 billion bailout. The levy would have raised €5.5 billion which would be used to recapitalise the two banks.
The country’s finance minister has today travelled to Moscow for meetings with the Russian government about extending the repayment dates on previous bilateral loans, and potentially asking for Moscow’s involvement in a further batch of loans.
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Old knobbly knees is on the gravy train again.
@JJandtim Dwyer: Hope she wears the hijab . Wouldn’t want to upset her Muslim network ! Might be no harm when she is in an investigative mood to have a look at how our “Foreign Aid “ budget of approx. €800 million is spent , and why our Government screws citizens with appalling Inheritance Taxes etc. to support the ideologies of the likes of Robinson .
A tax on initiative at home by saving and leaving something for your family , but by God don’t we cut a dash on the Foreign Aid circuit !
@JJandtim Dwyer: very original is that the best you can come up with
@Tony Lyons Mary will look after Mary and her leftist pals, investigating a Nigerian banker what does she expect to find,,,a rose garden.
whats the most corrupt nation on earth?Advance fee fraud?Immigration fraud.
Wake up Tony
@Tony Lyons: take a look at your spam folder and you will have no problem identifying the 419 scam artists and where they originate from , its not rocket science and certainly does not need the lavish expenses of Mary dear and I presume Nick will accompany?
How is Princess Latifa these days? Mary was no help to her.
A c0rrupt Nigerian……one displaying a lavish lifestyle with expensive suits…..surely not
No doubt the radical left will be saying that’s racist.
@Fintan O’flaois: No doubt the radical right will be saying “no doubt the radical left will be saying that’s racist.”
Mary Robinson is an incredible States woman, a successful barrister, former President and head of the Elders and a champion on Climate. Mary Robinson has and is spending her life in service to the greater good and fair dues to her to take on this dangerous and complex task. Right wing Trump bots busy on here again – disgraceful lack of respect for an incredible woman.
@Woman On the Up: Incredible woman? How did her €8.5m bill for a Ballina library – complete with tax breaks for her – go down with the public? She’s another champagne socialist.
You’ve a memory of a goldfish.
@Woman On the Up: Noddy has never had a real job in her life and has made millions from the Irish tax payer.
@Woman On the Up: Spending her life on the greater good of Mary just like Trump,to the detriment of the average working man.
@Woman On the Up: And im sure Mary is back in the Mount Falcon nodding in agreement
No better woman.
“Ireland has become the African Development Bank Group’s 81st shareholder, following a declaration issued by the institution’s President, Akinwumi Adesina, on 24 April 2020.” – so says the bank’s website.
Here is another of the “world’s five largest multilateral development” banks. Ireland is a shareholder there too: https://www.reuters.com/article/us-ebrd-complaint-exclusive/exclusive-ebrd-head-faces-investigation-call-over-dossier-on-directors-idUSKCN1MF2CZ
Same old
Hopefully she doesnt quit half way through the task
All the offshore assets of the Third World elite should be frozen and then returned to sovereign wealth funds in each of those countries, to be then used under proper supervision for social and infrastructural development. A lot of this ill gotten wealth is of course bribes and side kicks for natural resource robbery, these days by in particular the Chinese. Africa has massive wealth and resources. Its just a matter of who controls it. Not doing this, means half of the disenfranchised in Africa want to arrive here in Europe, encouraged by likes of M.R. under the guise of “climate justice” migration and others including the left wing of the Green Party, who want to do away with our “false” asylum restrictions.
@Nicholas Grubb: Well said Mr Grib
A GREAT woman. Always a head of her time.
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