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Cyprus News Agency: News in English, 13-04-20
CONTENTS
[01] Cyprus continues to embrace the European ideal, House President says
[01] Cyprus continues to embrace the European ideal, House President says
Cyprus will continue to embrace the European ideas, despite "agonizing"
solutions and measures imposed as a result of a decision by Eurogroup
for the restructuring of the island`s banking sector in the context of
a €10 billion financial assistance to Cyprus, Cyprus House President
Yiannakis Omirou has said. The Euro area Finance Ministers decided on
March 25 to approve a €10 billion bailout to Cyprus, coupled with the
winding down of the island`s second largest lender, Cyprus Popular Bank,
and the restructuring of the largest bank, Bank of Cyprus, whose uninsured
depositors (above €100.000) may take losses up to 60%.
"Being at a critical juncture in Cyprus' contemporary history, we are
confronted with the dire consequences of policies that were in fact
imposed on us and undermine social cohesion. We are saddened by the
lack of solidarity towards the Republic of Cyprus, since solidarity is
one of the fundamental principles of the European Union," said Omirou
addressing the 2013 CIM Marketing Summit.
The House President rejected claims that Cyprus has been neither a
money-laundering hub nor a tax haven, noting that this is confirmed
by many reports, both pre and post-EU accession from internationally
recognized organizations. "The people of Cyprus aspire not only to
overcome their financial losses within the next few years, but also to
heal social wounds from such a disruption to their economic stability,"
he noted.
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