Our View: Have we learnt nothing from the disaster of five years ago?
It is five years to the day when President Anastasiades agreed to the bail-in of the Bank of Cyprus’ depositors and shareholders as the Eurogroup
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Our View: Banks should be covering their own losses, not the state
General secretary of the bank employees’ union Etyk Christos Panayides did not inspire much public sympathy when he was speaking on a morning radio show
Outgoing Eurogroup head says bail-in was only solution
As the situation shaped out in March 2013, the bail-in of depositors was the only remaining viable solution to save the banking system in Cyprus,
New furore breaks out over ‘financial disaster’
Right on cue, political parties on Tuesday entered the fray of a political storm – contrived or not – triggered by the remarks of former
Swedish arbitration court rejects complaints over 2013 bail-in
A Swedish arbitration court rejected on Tuesday an appeal filed by two bailed-in investors from Poland against the Republic of Cyprus seeking compensation for losses
BoC fighting to restore health
By Stelios Orphanides Bank of Cyprus, the island’s largest lender, is on Tuesday holding its annual general meeting after undergoing an unprecedented transformation over the
Bondholders say that without dynamic actions ‘we will not win our fight’
Bondholders who lost money during Cyprus’ banking crisis said on Sunday they would step up measures for compensation but called off a mass protest planned
European Court of Justice reaffirms ‘no’ to Cypriot bail-in claimants
The European Court of Justice on Tuesday upheld a previous judgement that dismissed actions calling for the annulment of a March 2013 decision to seize
Growth in civil service gains pace
Growth in the public sector has gained pace in 2015 as the hiring of employees increased in contrast to the declining number of retirements, the
The Cyprus bail-in & policy lessons, a book by Orphanides & Michaelides
The auditorium at Journalist House in which “The Cyprus Bail-in: Policy Lessons from the Cyprus Economic Crisis,” on how Cyprus was led to the banking crisis
Deutsche Bank economist proposal to ditch bail-ins not a bad idea, Cypriot economist says
By Stelios Orphanides The risk of a bank run in Italy as the capital situation of its lenders deteriorates by the day following the British
Legal opinion does not bode well for Cypriot depositors case (Updated)
EU courts have no jurisdiction to hear actions for annulment against the Eurogroup statement of March 2013 or the Memorandum of Understanding (MoU) as neither
Government ready to discuss compensating those who lost funds in bail in
The government said on Tuesday it is ready to discuss a proposal where a fraction of the government’s primary surplus would go toward compensating depositors
Most provident funds and charities to be exempt from bail-ins
The House finance committee on Tuesday said that 99 per cent of provident funds would be shielded from a ‘bail-in’ or haircut on deposits, under
The 2013 bail-in and the rule of law
By Alper Ali Riza The rule of law was the fundamental principle relied on by the three Cypriot depositors deprived of their savings in the
Private sector unlikely to recap Greek banks in 2015, bondholder bail-in likely, Moody’s says
By Stelios Orphanides Moody’s Investors Service said that the time remaining for the private sector to participate in the recapitalisation of Greece’s banks is limited
Amid fears of Greek controls, Cyprus shows restrictions are bearable
By Michele Kambas As Cyprus’s financial system imploded in the spring of 2013, the island’s leaders were given an ultimatum: sign up to a bailout
Deposit levels down €21bn compared to pre-bail-in levels
By Stelios Orphanides The 2013 banking crisis continues to haunt deposits in Cyprus’s banking system, two years after depositors at Bank of Cyprus and Cyprus
Laiki and BoC were sacrificed to save Russian deposits
Demetris Papadopoulos IT IS EXACTLY two years since the first Eurogroup decision for the recapitalisation of Cypriot banks by a bail-in of all bank deposits.
Parties bicker over seizure of deposits in March 2013
By George Psyllides PARTY bickering over the seizure of bank deposits two years ago continued yesterday with the opposition suggesting the government had alternative choices,