Send to Kindle
The Central European Bank said in a statement Thursday it would continue to provide emergency financing to Cypriot banks until Monday. Photo by EPA/BGNES
The establishment of a state "investment solidarity fund" is expected to be a key component in the bills MPs in Cyprus will vote on Friday in a bid to raise the funds for an international bailout.
The fund would issue bonds on state assets to raise the EUR 5.8 B required by the country to secure an international bailout.
Other elements could include restructuring other Cypriot banks, use of pension fund, and accepting an offer of help from Cyprus' wealthy Orthodox Church.
A revised levy on deposits also remains a possibility.
Big Russian investors are believed to hold about a third of all Cypriot deposits - and reacted with fury when the initial plan to tax deposits by up to 9.9%.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
The debate surrounding the inclusion of Bulgarians in North Macedonia's constitution, a crucial precondition for the country's European Union accession talks, has taken center stage in the ongoing presidential campaign
Opposition parties critical of President Maia Sandu's pro-European stance have joined forces in Moscow, forming a pre-election bloc with ambitions to contest upcoming presidential elections and a pivotal referendum on EU membership
EU Commissioner for Home Affairs Ylva Johansson conducted an inspection of border control measures at Sofia Airport, marking a significant step in Bulgaria's accession to the Schengen Area by air
In a recent meeting of the European Council, Acting Prime Minister Dimitar Glavchev underscored Bulgaria's unwavering support for Ukraine amidst discussions surrounding the fight against disinformation and foreign manipulation of information
European leaders have reaffirmed their unwavering commitment to Ukraine, pledging urgent assistance to bolster the nation's defense capabilities
The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
In recent years, Moldova has been faced with the challenge of reducing its dependency on Russian gas imports.
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
In a statement underscoring growing concerns over national security, FBI Director Christopher Wray has declared that the popular social media app TikTok poses a significant risk to the United States
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
A damning report from the US State Department has unveiled a troubling reality of systematic racial and ethnic violence and discrimination against Bulgarians in the Republic of North Macedonia
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
