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EU finance ministers are meeting today in Dublin for two days of meetings where the main topic to discuss will be the Cyprus bailout.  Unfortunately, while numerous changes have been made and continue to be made to the terms of the bailout, the Cypriots remain in the dark about exactly what is being…


The time has come for Cyprus to pay for the past mistakes as the Finance Minister explained yesterday. He highlighted that Cyprus could have delays in the ratification of the bailout and this might have consequences. The government needed an additional €80 million on top of an €85 million reserve- before…


Economic experts agree that the activity in tax havens jurisdictions have increased during the last year even though international organizations have tried to finish with them. With only 200 euros you can incorporate a company in Delaware, the second smallest state in the USA. Yearly you will need to…


A three-man committee of will investigate the near-bankruptcy of the Cyprus economy to determine political, civil or criminal involvement. The committee will be formed by Giorgos Pikis, a former Supreme Court judge and a former member of the International Court of Justice in The Hague, and former Supreme…


After the haircut on deposits over 100,000 EUR and the restrictions on ATMs withdrawals and bank transactions, the Finance Minister of Cyprus has explained the new financial measures to be taken by the executive. The Central Bank published yesterday two government decrees on Laiki Bank and Bank of Cyprus…


The chaos that was expected yesterday as banks reopened after two weeks of forced holidays was just a fear as the reality translates in relatively calm and patient. Long queues formed from early in the morning although banks were not to open until noon but at early afternoon the queues disappear without…


As it is stated on the Department of Registrar of companies of Cyprus website in view of the developments of the last few days and especially the non-operation of Credit Institutions, the annual fee of three hundred fifty Euros (€350) may be paid until the 26th April 2013 instead of 29th March 2013. Therefore,…


The complete plan to control capital in Cyprus and avoid a run on the banks by depositors is expected to be ready on Wednesday. Thousands of Cypriots have protested at the bailout deal this week in the streets of Nicosia and all the other cities. They believe these measures will cost many of them their…


The executive achieved an agreement yesterday on setting up an Investment Solidarity Fund in order to collect the 5.9 billion euros required to unlock the EU/IMF's financial aid for the island. After the parliament's rejection the creation of the fund is seen as a backup plan in order to avoid a levy…