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Kazamias Says EU Bailout Can Be Avoided With New Package

Sat, 03/12/2011 - 13:23 — Sarah Fenwick

austerity measures cyprusIn the wake of a broad party consenus on new austerity measures, Finance Minister Kikis Kazamias said he was optimistic that Cyprus' entry into the European Financial Stability Fund (EFSF) can be avoided.

Opposition Meets With President For Austerity Talks

Mon, 28/11/2011 - 09:43 — Adrienne Morley

Opposition leader Nikos Anastassiades met with President Demetris Christofias this morning in an attempt to gain consensus on urgently-needed austerity measures to prevent Cyprus from entering the European Financial Stabilility Facility (EFSF).

Greece Must Stick To Agreed IMF/EU Package - Barroso

Fri, 04/11/2011 - 12:37 — Adrienne Morley

The Euro area is ready to support Greece but the country needs to stick to the agreed package of 26-27 October and continue to implement the IMF/EU programme, said European Commission President Jose Manuel Barroso speaking at the G20 summit in Cannes.

Cyprus Banks Recapitalisation Estimate at 3.6 Bln

Fri, 28/10/2011 - 09:06 — Sarah Fenwick

cyprus banks recapitalisationCyprus banks' recapitalisation needs are estimated at 3.6 billion euros, said a statement from the Central Bank following yesterday's high-level agreement to recapitalise banks through the European Financial Stability Fund (EFSF), now set to be boosted by 106 billion euros.

Fresh Uncertainty Over Greek Debt Devaluation Deal

Thu, 27/10/2011 - 08:41 — Sarah Fenwick

50% greek haircutEurozone finance ministers, the ECB and IMF have reached an agreement to devalue Greek sovereign debt by 50 percent and to recapitalise banks via the European Financial Stability Fund (EFSF), as expected by financial markets.

EU Bail-out Fund Leverage Up To 1 Trillion - Reports

Tue, 25/10/2011 - 09:28 — Sarah Fenwick

EFSFGerman Chancellor Angela Merkel is set to impose a Greek sovereign debt devaluation of 60 percent and to allow leverage of up to one trillion euros on the European Financial Stability Facility (EFSF), says a report on FXStreet.com citing leaked information.

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Poll

Do you think Cyprus should leave the euro and return to the pound?
Yes, we're too exposed to the eurozone's woes
62%
No, we can get through the crisis and benefit from the euro
24%
Undecided, there are pros and cons on both sides
13%
Total votes: 413


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