Posts tagged with "harris georgiades"

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...
Sewerage boards not happy as Georgiades ready to discuss reduction of fees Cyprus

Sewerage boards not happy as Georgiades ready to discuss reduction of fees

September 12th, 2017 Finance Minister Harris Georgiades said that his ministry and the ministry of interior are prepared to engage in a dialogue with the parliament on redrafting the law on sewerage fees enacted this year which meant a sudden increase in the burden for certain property owners. Georgiades who was commenting on state-radio CyBC on Tuesday...
Economy going through third year of recovery, FinMin says Cyprus

Economy going through third year of recovery, FinMin says

September 3rd, 2017 Finance Minister Harris Georgiades has said that he is satisfied with the state of the economy, noting that the growth rate in 2017 would reach 3.5%. “The Cypriot economy has been through dramatically difficult conditions” said Georgiades in an interview with the Greek newspaper Kathimerini, adding that “ominous” projections...
Etyk bashes Georgiades on pension funds, wants a word with President Business

Etyk bashes Georgiades on pension funds, wants a word with President

August 30th, 2017 Bank workers’ union Etyk said on Wednesday that the rejection by the finance minister of its demands for complete compensation of provident funds for losses suffered in the banking crisis, confirms that it is being unfairly treated. The cabinet’s decision in July to compensate funds for 75 per cent of their losses with a cap of up...
Georgiades says considering cap on beneficiaries of naturalised investors Business

Georgiades says considering cap on beneficiaries of naturalised investors

August 28th, 2017 Finance minister Harris Georgiades said that while the government plans to keep its citizenship by investment scheme in place, it may consider a cap on the number of beneficiaries, already exceeding 1,000 since 2013, Kathimerini reported in its Sunday edition. “The government has already gone ahead with a substantial revision of the...
With Q2 growth at 3.6%, ‘efforts paying off,’ Georgiades says (Update 2) Cyprus

With Q2 growth at 3.6%, ‘efforts paying off,’ Georgiades says (Update 2)

August 14th, 2017 By Stelios Orphanides Finance minister Harris Georgiades said on Monday that the latest preliminary figure of a 3.6 per cent economic growth in the second quarter showed that Cyprus’s recovery is “strong”. “The ninth consecutive growth quarter and the acceleration to over 3.5 per cent confirms that economic growth is...
Georgiades defends reimbursement of provident funds Cyprus

Georgiades defends reimbursement of provident funds

July 21st, 2017 The government’s decision to reimburse 75 per cent of provident funds seized during the 2013 meltdown and cap reimbursements at €100,000 was known all along and is fully justified, Finance Minister Harris Georgiades said on Friday. Speaking to state radio, Georgiades addressed complaints voiced by various trade unions, including...
Yield drops to 2.75% as Cyprus issues 7-year bond, Georgiades says Cyprus

Yield drops to 2.75% as Cyprus issues 7-year bond, Georgiades says

June 20th, 2017 Finance minister Harris Georgiades said that the government borrowed €850m on Tuesday with the issue of a 7-year bond at an average yield of 2.75 per cent. The issue was more than four times oversubscribed with total subscription reaching €3.7m, the finance minister commented on Twitter. The receipts will serve pay back...
Auditor-general asks finance minister to explain co-op stock donation Cyprus

Auditor-general asks finance minister to explain co-op stock donation

June 9th, 2017 Auditor-general Odysseas Michaelides has asked the finance minister to explain the cabinet’s decision to handover Cooperative Central Bank stock to individual depositors and borrowers, the Cyprus News Agency (CNA) reported on Friday. Michaelides, known for his no-nonsense attitude and his frequent clashes with government officials,...
Co-op stock donation to have a fiscal impact, treasury says (updated) Cyprus

Co-op stock donation to have a fiscal impact, treasury says (updated)

June 2nd, 2017   The handover of 25 per cent of Cooperative Central Bank stock to its depositors and borrowers, which the government decided on May 31, may be reflected on the budget, according to the Treasury, something Finance Minister Harris Georgiades denied. There will be “absolutely no fiscal impact,” Georgiades texted in response...
Scrutiny for all civil servants holding party posts Cyprus

Scrutiny for all civil servants holding party posts

May 19th, 2017 THE cabinet has decided that all ministers are to initiate a disciplinary probe of those civil servants simultaneously holding political party posts to determine which of them are in violation of the law. The announcement of the cabinet decision was made by finance minister Harris Georgiades during a session of the House watchdog...
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