Europe: Cyprus threat to EU-Turkey deal over migrant crisis

Cyprus has threatened to bloc EU-Turkey deal over migrant crisis if Turkish government don’t recognises it as a country. Cypriot President Nicos Anastasiades has rejected the terms of an EU offer to Turkey to resume membership talks, jeopardising a deal to send back migrants landing on the Greek islands.

Turkey agreed last week to take back the new arrivals in return for EU concessions.

But Cyprus has said that Turkey will have to agree concessions of its own.

Speaking after talks in Nicosia with European Council President Donald Tusk, Anastasiades explained that Turkey first had to “fulfil its obligations”, such as recognition of the Cypriot government and opening up Turkish ports and airports to passengers and trade.

The island of Cyprus has been divided since the Turkish military invaded the north in 1974 in response to an Athens-inspired coup.

Conclusion: More troubles for EU.


Europe: Cyprus peace talks resume amid ‘climate of optimism’ – UN

After 40 years of strain relations. Turkish cypriots and Greeks cypriots are resume to talks for reunification of the island. President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci met in Nicosia’s neutral buffer zone. UN envoy Espen Barth Eide said they “shared their vision for a united Cyprus”. Conclusion: Cyprus solve its problems peacefully.

Cyprus: MPs reject key terms of EU/IMF bailout

Cypriots MPs has reject two key bills demanded by international creditors, European Union (EU) and International Monetary Fund (IMF). Cyprus parliament votes 23 to 21 against two bills. It brings co-operative banks under the central bank’s direct supervision. If this bill was approved, Cyprus receives a 10 billion euros in return of EU/IMF bailout deal. The country receives a 3 billion euros in March on part of agreement with EU/IMF.What’s it means: Cypriot nationals are very happy with this decision less the government

Cyprus parliament approves bailout deal

Cyprus parliament passes international bailout for 29 votes a 27. Now, country secures 10 billion Euros in international loan package. It should be raised 13 billion Euros to receive a loan package. Also, Cypriot parliament approves a new banking reform. President Nicos Anastasiades had appealed to lawmakers to act with the national interest in mind. “What we’re called upon today to do is to adopt a loan agreement that will allow our country to breathe and to give us the chance to overcome whichever problems we’re facing amid this crisis,” he told reporters. Really, MPs acting in national interest despite Cypriots despair.

Cyprus Finance minister resigns after bailout talks

Cyprus Finance minister, Michalis Sarris has resigned today after completing talks over a controversial bailout deal. He will replace by labour minister Haris Georgiades. reports form local media said. On Tuesday, Cypriot government said that President Nicos Anastasiades had accepted the resignation of Sarris, who had been under fire for his handling of the bailout deal. Well good lucky for minister Haris Georgiades.

Cyprus capital controls to be lifted next month, says Foreign Minister

Cyprus are open their banks for six hours today. It’s first time in two weeks since the banks are close to avoid a total withdrew of savings from it. Also, capital controls are imposed today. It also includes:

  • Daily withdrawals limited to 300 euros
  • Cashing of cheques banned
  • Those travelling abroad can take no more than 1,000 euros out of the country
  • Payments and/or transfers outside Cyprus via debit and or credit cards permitted up to 5,000 euros per month
  • Businesses able to carry out transactions up to 5,000 euros per day
  • Special committee to review commercial transactions between 5,000 and 200,000 euros and approve all those over 200,000 euros on a case-by-case basis
  • No termination of fixed-term deposit accounts before maturity

Cyprus Foreign minister, Ioannis Kasoulides said capital controls would be lifted gradually. However, president Nicos Anastiasiades hailed the country’s “maturity and responsibility” on a day that saw many wait to access their cash. He cuts 25% pay off while cabinet ministers accepting 20% pay off. It’s Cypriots way to tackle the crisis.

Cyprus banks reopen Thursday to European concern

Cyprus banks are reopen tomorrow at 18:00 in local time (10:00-16:00 GMT). The banks are closed amid concerns if Cypriots goes to the banks to fleeing their savings. Tomorrow, costumers withdrew 300 euros a day, to prevent it. It’s a part of series of measures to impose a capital control in local bank system seeks 5.8 billion euros to qualify to bailout deal of 10 billion euros. It’s a hard times for ordinaries Cypriots.