Posts tagged with "harris georgiades"

Cyprus has made ‘enormous progress’ on money-laundering clampdown Cyprus

Cyprus has made ‘enormous progress’ on money-laundering clampdown

April 19th, 20191701 US Department of Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea on Friday praised Cyprus’ “enormous progress” on issues relating to anti-money laundering (AML). Billingslea who is visiting Cyprus, met with Finance Minister Harris Georgiades, a visit described as part of the US’ scrutiny over the...
Economy improving but difficult decisions remain says minister Business

Economy improving but difficult decisions remain says minister

April 18th, 20191590 The government aims to bring public debt below 90 per cent by the end of 2020 and reduce non-performing loans (NPLs) to single digits, Finance Minister Harris Georgiades said on Thursday, as he reiterated that taking difficult decisions was the only way forward. “The public debt is high but its cost (servicing) is reduced...
Cyprus mulls early repayment of Russian loan Cyprus

Cyprus mulls early repayment of Russian loan

April 16th, 20193170 Cyprus is considering an early repayment of part of a €2.5bn loan it obtained from Russia during the financial crisis, as its funding costs decline, Finance Minister Harris Georgiades said on Tuesday. He was commenting on media reports that Cyprus was considering tapping the markets for a new bond issuance exploiting favourable...
We’ll resign if government resigns over Co-op, MPs tell Neophytou Cyprus

We’ll resign if government resigns over Co-op, MPs tell Neophytou

April 15th, 20191411 Opposition parties said on Monday they would agree to dissolve parliament if the government also resigned, responding to ruling Disy leader Averof Neophytou’s challenge during Friday’s discussion in the plenum on the damning findings of a probe into the collapse of the Co-op bank. Opposition parties have insisted on the finance...
Finance minister to leave office at the end of the year (Updated) Cyprus

Finance minister to leave office at the end of the year (Updated)

March 15th, 20192965 Finance Minister Harris Georgiades said Friday he would be stepping down at the end of the year but denied it was because of the demining findings of a probe into the collapse of the co-op bank, which he said were flawed. “I have discussed with the president that I will continue at the finance ministry until the end of the year,”...
Akel: government turning ‘black into white’ over Co-op collapse Cyprus

Akel: government turning ‘black into white’ over Co-op collapse

March 13th, 20191523 The opposition kept up the pressure on Finance Minister Harris Georgiades on Wednesday with the leader of Akel demanding his resignation or dismissal over the collapse of the Co-op bank. Speaking during a visit to Paphos, Andros Kyprianou accused the government of immeasurable audacity in ignoring a damning report, which mainly blamed...
Opposition parties call for Georgiades’ resignation over Co-op Business

Opposition parties call for Georgiades’ resignation over Co-op

March 6th, 20191968 Despite themselves being partially blamed in the Co-op inquiry for the bank’s collapse, political parties were quick to call on Wednesday for Finance Minister Harris Georgiades to resign or be dismissed. The sole exception was ruling Disy which said it backed the minister, who was largely blamed in the report for the demise of the...
Co-op inquiry: Georgiades should have sacked ‘incompetent CEO’ Cyprus

Co-op inquiry: Georgiades should have sacked ‘incompetent CEO’

March 6th, 20194019 Finance Minister Harris Georgiades was named as the main wrongdoer in the collapse of the Co-op bank, though the president, his cabinet and political parties were also assigned responsibility, in the findings of an inquiry that were published on Wednesday. Former Co-op executives, including CEO Nicolas Hadjiyiannis, should be...
Georgiades hits back at being blamed for Co-op collapse Business

Georgiades hits back at being blamed for Co-op collapse

March 6th, 20192134 Hours after the release of the report which largely blamed him for the Co-op’s demise, Finance Minister Harris Georgiades hit back on Wednesday, saying political responsibility was one thing and acting responsibly another. Georgiades said he could not comment directly on a report that he had not yet seen, but he defended the...
State mulling appeal to civil servants’ returned bonuses Cyprus

State mulling appeal to civil servants’ returned bonuses

February 20th, 20191496 The state has not decided yet whether it would appeal a court judgement in favour of civil servants who challenged a decision to dock their one-off bonus for which they were eligible on retirement, Finance Minister Harris Georgiades said on Wednesday. The minister reiterated however, that civil servant court claims relating to the...
Cabinet approves changes to golden visa scheme (Updated) Cyprus

Cabinet approves changes to golden visa scheme (Updated)

February 13th, 20196235 The citizenship-by-investment scheme’s contribution to economic growth in the past three years was just 1.2 per cent of 13 percentage points, Finance Minister Harris Georgiades said Wednesday, as the cabinet tightened procedures for applicants to the programme, which has been criticised by the EU as lacking transparency. Speaking...
AI will have ‘massive impact’ in coming years, Georgiades says   Cyprus

AI will have ‘massive impact’ in coming years, Georgiades says  

January 31st, 20192195 WITH 90 per cent of all jobs after 2020 requiring basic digital skills, and with the advent of artificial intelligence (AI), which is estimated to cause a net loss of millions of jobs in the coming years, Finance Minister Harris Georgiades said on that politically and institutionally the world was still not fully prepared to handle this...
Urgent need to reform Cyprus tax policy Opinion

Urgent need to reform Cyprus tax policy

January 20th, 20194070 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, 20181836 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, 20182983 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, 20183184 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, 20182010 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, 20186879 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, 20184887 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, 20182788 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, 2018393 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, 201810727 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, 20183307 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...
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