Cyprus may have to pump up to 2.5 billion euros into Greek-exposed Popular Bank to cover losses on a Greek writedown if the bank’s own recapitalisation attempts fail, a newspaper reported on Friday. State intervention in the bank – Cyprus’s second largest – could be triggered by concerns that auditors Pricewaterhouse Coopers (PWC) could express [...]
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Cyprus Government Describes Oil Drilling in Famagusta as Illegal
The Cyprus Government has described the drilling for hydrocarbons in the Turkish occupied area of Famagusta “illegal,” noting that this action demonstrates Ankara’s and Turkish Cypriot leadership’s lack of will for a solution to the Cyprus problem. Government Spokesman Stephanos Stephanou said that “Turkey and the T/C leadership are acting illegally by conducting a drilling [...]
Warrant Issued for Former Greek Cyprus Army Chief
A European arrest warrant was issued yesterday against former Greek Cyprus army Chief Petros Tsalikides, charged in connection with a deadly munitions blast, after he failed to appear in court, officials said. According to hurriyetdaily, Tsalikides’ seven co-defendants were in court yesterday but did not have the charges read out to them, nor were they [...]
Cypriot Unicef Ambassador Ktorides Conquers North Pole
Cypriot businessman Nasos Ktorides completed the world’s most northerly marathon, parking the flags of Cyprus and Greece at the Geographic North Pole, a Cypriot newspaper reports. 44-year-old Ktorides battled temperatures of -26 degrees Celsius and a sprained ankle to come 16th in the grueling race, recognized by the Guinness Book of World Records as the [...]
Athens Court Finds Defendants Guilty in Helios Air Crash
A Greek court sentenced four employees of Helios Airways, a defunct Cyprus budget carrier, on Friday for their part in a 2005 plane crash in which 121 people died after being deprived of oxygen. The Athens court verdict came despite an earlier ruling by a Cyprus court which dismissed the negligence case brought against the [...]
Sultan of Oman Spends Vacation in Cyprus
Sultan of Oman Qaboos bin Sa’id arrived in Cyprus with his private jet, this time not to cut business deals but to spend some vacation time. The Sultan booked two floors of hotel “Le Meridien” in Limassol until the end of April, and the presidential suite in which he is staying has been entirely renovated. [...]
Cyprus Fully Respects Places of Worship of Turkish Cypriots
The Government of Cyprus rejects and denounces the Turkish Cypriot side’s attempt to politicize a fire that was set to the Haji Ibrahim Aga mosque in Limassol, Government Spokesman Stephanos Stephanou underlined on Tuesday. Stephanou said that the fire was set intentionally in the early hours of Great Saturday, destroying the mosque’s wooden roof and [...]
Cyprus: Turkish ‘Plan B’ Violates UN Resolutions, Spokesman Stresses
Cypriot government spokesman Stephanos Stephanou said that Plan B for a solution to the Cyprus issue that Ankara is advertising is against international law and violates UN resolutions. Stephanou made the remark after being invited to comment on a report in the Turkish Milliyet newspaper, saying that Turkey plans to implement a Plan B on [...]
Cyprus Connection and the Tsochatzopoulos Scandal
A few days ago, Akis Tsochatzopoulos, a former Greek minister, was arrested due to charges on money laundering against him. Three more men have also been arrested on account that they seem to be partners. One of them, his cousin, is the owner and founder of an offshore company based in Cyprus. He is accused [...]
Cypriot Bank Losses From Greek Bond Swap “Manageable”
Losses incurred by Cypriot banks from a Greek debt restructuring are “manageable” and Cyprus is ready to support its lenders, if needed, European Central Bank governing council member Athanassios Orphanides said Thursday. Orphanides, who is also the governor of the Central Bank of Cyprus, said plans prepared by local lenders to boost their capital have [...]
Papademos: Partition is no Option for Cyprus
The Greek Prime Minister Loukas Papademos has made it clear that partition is no option as far as a political settlement in Cyprus is concerned, reiterating that a solution must be in line with UN decisions and provide for a bizonal bicommunal federation with a single international personality, one sovereignty and one citizenship. Addressing the [...]
Greek Priest Nabbed at the Airport with Three Kilos of Cannabis
A Greek priest has been remanded for eight days after being caught with three kilos of cannabis in his bags while arriving at Larnaca Airport. The 37-year-old was arrested at the airport on Wednesday night after arriving from Athens. Drugs Squad, YKAN deputy commander Panicos Stavrou said the priest was caught with three kilos of [...]
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05 / 24 EU Leaders Tell Greek Voters to Make “The Right Choice”
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05 / 23 A Crisis of Democracy: Greece
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05 / 23 Fearing Eurozone Exit, More Greeks Stop Paying Taxes
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05 / 23 Market Watch: ‘If Greece Exits Eurozone, Replace It With Turkey’
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05 / 23 Pilot Program Allows Immediate Visa for Turkish Tourists on Arrival to Greek Islands
Calendar – Exhibits, Concerts, Fun
- Thessaloniki: 50 Year Anniversary Commemorated of Seferis Literature Nobel Prize May 23, 2012
- ‘Doctors of the World’ International Conference to be Held in Greece May 22, 2012
- Crete is a Mediterranean ‘Treasure’ of Aromatic Plants and Herbs May 22, 2012
- Crete to Export Products to Australia May 21, 2012
Salonica
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