Posts tagged with "harris georgiades"

Urgent need to reform Cyprus tax policy Opinion

Urgent need to reform Cyprus tax policy

January 20th, 2019 By Les Manison A former finance ministry advisor writes an open letter to Finance Minister Harris Georgiades on the need to reform tax collection and payments so that public services can be improved Dear Minister of Finance, Harris Georgiades, The need to provide high quality public services, a characteristic of an advanced...
Reforms should be a national goal, FinMin tells parliament Cyprus

Reforms should be a national goal, FinMin tells parliament

December 7th, 2018 Finance Minister Harris Georgiades urged parties Friday to back structural reforms and consider them a national goal that will change the country and maintain economic growth. “Advancing reforms and changes in the structures and procedures of the state and the economy must be a national goal,” the minister told parliament during...
Georgiades asks how co-op was allowed to operate the way it did up to 2013   Cyprus

Georgiades asks how co-op was allowed to operate the way it did up to 2013  

November 22nd, 2018 By Elias Hazou and George Psyllides The government never expected to recuperate the money it invested in the ailing co-operative bank, Finance Minister Harris Georgiades bluntly told the panel investigating the lender’s demise. Testifying before the committee on Thursday, the minister was asked whether he personally believed...
State assistance averted deposit haircut at co-op, FinMin says Business

State assistance averted deposit haircut at co-op, FinMin says

November 22nd, 2018 State assistance was granted to the co-op bank in 2013 to avert a haircut on deposits, Finance Minister Harris Georgiades told an inquiry into the lender’s collapse on Thursday. The minister, who has been heavily criticised following the co-op bank’s demise earlier this year, started his testimony by reading a prepared statement...
Audit chief warns against misplaced euphoria that crisis is over Cyprus

Audit chief warns against misplaced euphoria that crisis is over

November 21st, 2018 Auditor-general Odysseas Michaelides voiced concern on Wednesday over the apparent climate of general financial euphoria that could mislead the country the economic crisis was over and Cyprus could return to the culture of wastefulness and unaccountability. Appearing before the House finance committee, Michaelides said that while the...
BoC chairman warns of risk of new financial crisis Business

BoC chairman warns of risk of new financial crisis

October 19th, 2018 By Annette Chrysostomou Although the European banking sector is safer now than it was 10 years ago, there is always the risk of another financial crisis, Bank of Cyprus (BoC) chairman Josef Ackermann said on Friday “Banks are better regulated now, they have come a long way, but they are not safe enough. The reform of the banking...
Finance minister lied about Co-op, says auditor-general (Update 1) Cyprus

Finance minister lied about Co-op, says auditor-general (Update 1)

August 27th, 2018 Auditor-general Odysseas Michaelides said on Monday that Finance Minister Harris Georgiades publicly lied and misled the both the council of ministers and the bank’s supervisor over the donation of Co-op stock to the its customers. The European Central Bank’s (ECB) Single Supervisory Mechanism (SSM), which together with the...
Our View: Finance Minister’s CCB role deals his reputation a blow Our View

Our View: Finance Minister’s CCB role deals his reputation a blow

August 8th, 2018 Finance minister Harris Georgiades has not exactly improved his standing with his handling of the Cyprus Cooperative Bank, which was under his authority for the whole of its existence as a state-owned entity. If anything, his reputation as a safe pair of hands for the economy has been dealt a blow by the goings-on, under his watch, at...
Government stuns by agreeing reversal of pay cuts with unions Cyprus

Government stuns by agreeing reversal of pay cuts with unions

June 1st, 2018 By Stelios Orphanides A day after the fiscal watchdog warned of serious risks threatening the economy, the government stunned business groups by agreeing in talks kept secret from the public with unions SEK and PEO the gradual reversal of pay cuts in the wider government introduced six years ago. “Pay cuts affect(ed) workers and...
Georgiades will open state coffers if Cyprus wins Eurovision Cyprus

Georgiades will open state coffers if Cyprus wins Eurovision

May 11th, 2018 By Evie Andreou Finance Minister, Harris Georgiades, gave reassurances on Friday that if Cyprus wins the Eurovision song contest Saturday night, he would “open” the state coffers. Speculations abounded the past few days - after bookmakers predicted Cyprus as the winner of this year’s Eurovision song contest - on whether the...
Outflows from co-ops have stopped, Georgiades says (updated) Cyprus

Outflows from co-ops have stopped, Georgiades says (updated)

April 5th, 2018 It appears that deposit outflows from co-op banks have stopped following the government’s action to deposit €2.5bn in the form of bonds, Finance Minister Harris Georgiades said on Thursday. Speaking after a meeting with the Green party, Georgiades said certain things and decisions were a result of Cyprus operating in a European...
Cyprus ready for scrutiny of Golden Visa scheme says Georgiades Cyprus

Cyprus ready for scrutiny of Golden Visa scheme says Georgiades

March 12th, 2018 Finance Minister Harris Georgiades said the government is ready to provide information related to its controversial citizenship-by-investment scheme and have it scrutinised together with that of other member European Union member states, Politis reported on Tuesday. The finance minister, commenting to the daily newspaper, also...
Georgiades wants to remain part of government Cyprus

Georgiades wants to remain part of government

February 10th, 2018 Harris Georgiades will remain a part of the new government scheme, according to statements he made to Politis newspaper. He said that he would not necessarily be the finance minister, which is the position he holds currently, but that he would continue on as part of President Nicos Anastasiades government. Speculation has continued...
‘Pilot greed’ a reminder of why Cyprus Airways collapsed, Georgiades says Cyprus

‘Pilot greed’ a reminder of why Cyprus Airways collapsed, Georgiades says

January 11th, 2018 Criticisms surrounding the liquidation process of now defunct Cyprus Airways are a staunch reminder of the mismanagement that ruled the company for years and eventually led to its demise, Finance Minister Harris Georgiades said on Thursday. He was commenting on accusations by former Cyprus Airways employees a day after the liquidation...
Angry Papadopoulos slams Harris, denies he proposed payment stoppage Cyprus

Angry Papadopoulos slams Harris, denies he proposed payment stoppage

January 11th, 2018 By Stelios Orphanides A war of words has broken out between Finance Minister Harris Georgiades and Diko leader and presidential candidate Nicolas Papadopoulos after the latter proposed to delay debt repayments and so help social groups struck by the crisis. Georgiades, a member of ruling Disy, the party of incumbent president Nicos...
Hellenic, Co-op sign state-guaranteed loan agreements with EIB Cyprus

Hellenic, Co-op sign state-guaranteed loan agreements with EIB

January 10th, 2018 By Stelios Orphanides Hellenic Bank and Cyprus Cooperative Bank signed a €40m and €25m loan deal with the European Investment Bank (EIB) respectively which will allow them to extend credit to small and medium-size enterprises (SME), the two lenders said. Hellenic Bank, third largest Cypriot lender, said that the deal, the...
Cabinet earmarks €20m to compensate Etyk members in major U-turn Cyprus

Cabinet earmarks €20m to compensate Etyk members in major U-turn

December 7th, 2017 Finance Minister Harris Georgiades said that taxpayers will have to pay additional €20m to compensate members of provident funds for their losses in the 2013 banking crisis, which constitutes a major U-turn from his previous position. The new decision more than doubles a previous €100,000 cap in the compensation for retired...
Finance minister says economy in ‘virtuous circle,’ to grow 4% this year Cyprus

Finance minister says economy in ‘virtuous circle,’ to grow 4% this year

December 1st, 2017 Finance Minister Harris Georgiades said the Cypriot economy will expand 4 per cent this year, up from a previous forecast of 3.5 per cent, and will continue growing an average 3 per cent over the next three-year period. The finance minister, who was addressing lawmakers in his annual budget speech, said that the government, whose term...
State seeks to regulate bingo games Cyprus

State seeks to regulate bingo games

November 23rd, 2017 The government is seeking to regulate the game of bingo, which has an estimated annual turnover of over €100m, Finance Minister Harris Georgiades said on Thursday. Speaking at the first annual meeting of the betting authority, the minister said the legislation being prepared will enable continuation of the activity but in a way that...
Finance minister says cabinet approved new Cyta privatisation bill Cyprus

Finance minister says cabinet approved new Cyta privatisation bill

November 10th, 2017 Finance minister Harris Georgiades said that the council of ministers has approved a draft bill for the partial privatisation of state-owned telecoms company Cyta, which will allow the government to remain the majority shareholder. “It has been approved by the Council of Ministers and must have already been submitted to the...
Georgiades expects public debt to drop below 100% of GDP within weeks (Updated) Cyprus

Georgiades expects public debt to drop below 100% of GDP within weeks (Updated)

October 16th, 2017 Finance minister Harris Georgiades said that Cyprus’s public debt which stood at 107.8 per cent of economic output last year will fall below the 100 per cent mark within weeks, proving wrong a recent forecast of the International Monetary Fund (IMF), the Cyprus News Agency (CNA) reported on Monday. “That’s a goal that we will...
Our View: Nothing sinister about citizenship for investors programme Our View

Our View: Nothing sinister about citizenship for investors programme

September 20th, 2017 THE GUARDIAN report about the citizenship by investment programme, introduced by the Cyprus government in 2013 to attract foreign funds, understandably caused an uproar on the island. The UK newspaper claimed that Russian oligarchs and Ukrainian elites accused of corruption were among the hundreds of people who acquired EU passports...
Limassol summit woos foreign investors Investment Watch

Limassol summit woos foreign investors

September 12th, 2017 Finance Minister Harris Georgiades told an investors summit on Tuesday that Cyprus had not become complacent about the economy despite strong growth, and that much was still to be done. The second such summit in Limassol, attracting more than 150 investors from across the globe, was organised by the Cyprus Investment Promotion Agency...
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