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Similarly to Cyprus, about 50% credits are acknowledged as defaulted in Italy, even though the index is higher in Cyprus. How can an island as small as Cyprus be compared to the fourth-ranked European economy of Italy? Will the ECB give a hand to the Italian banking system in the event of its collapse?…

This time, Kuwait Bank has been imposed with a €1.2m fine. Having carried out an audit, the Central Bank of Cyprus detected multiple violations of anti-money laundering regulations. In case you weren’t aware, Hellenic Bank was among those who were subject to previous fines, while FBME was shutdown entirely.

The EU Parliament has come up with a proposal for British citizens to retain EU citizenship, but may be required to make a relevant payment to the Treasury. Brexit turned out to be more complicated than predicted. It’s not that easy to break liaisons that took decades to establish. As a reminder, the…

Bank of Cyprus: return from the dead

Bank of Cyprus has been surprisingly fast to recover from the crisis in 2013. The whole ordeal will be remembered as a successful bank rescue deal completed within the shortest possible period. As the 2013 crisis came about in Cyprus, an unprecedented decision on deposit clipping was taken with the…

As anticipated, the European Parliament has voted to suspend the process of Turkey entering the EU. Although the ballot is not binding, it nevertheless plays a role of gaging the current status of international relations. The Prime Minister of Turkey has reacted to this, declaring that joining EU is…

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