European Commissioner Warns of Looming Labor Shortage, Calls for Increased Migration
European Commissioner for Internal Affairs, Ylva Johansson, has highlighted the pressing need for increased labor migration in the European Union
Banks in Cyprus will reopen Thursday noon for six hours, amid tight security measures, after being closed for 12 days to prevent a bank run during the negotiations on a bailout deal.
The banks will reopen amid stringent restrictions on transactions, with a maximum cash withdrawal limit of EUR 300 euros per day and a ban on cashing cheques.
Travelers leaving Cyprus can take only up to EUR 1000, or the equivalent in foreign currency, with them in cash.
Cyprus's central bank will review all commercial transactions between EUR 5000 - EUR 200 000.
Local correspondents of the BBC News said there were fears of stampedes at the reopening of banks.
Bank branches will be guarded by armed police and hundreds of security guards of G4S.
Cyprus is the first eurozone member country to bring in capital controls, the BBC News reports, adding that restrictions on the free movement of capital represent a profound breach of an EU principle.
Cyprus has to come up with EUR 5.8 B to qualify for a EUR 10 B bailout from the European Union, European Central Bank and the International Monetary Fund, the so-called troika.
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The International Criminal Court (ICC), based in The Hague, has made a significant move by issuing an arrest warrant for two prominent Israeli figures, Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant
Dmytro Penteleychuk, head of the Joint Coordination Press Center for Southern Ukraine's Defense Forces, suggested that the Russian occupiers might have lost their last cruise missile carrier in Crimea
Iran's Supreme Leader Ayatollah Ali Khamenei announced that First Vice President Mohammad Mohbar will temporarily assume the country's executive leadership, as stipulated by the constitution
Condolences and an offer of assistance from the EU to locate the helicopter carrying Iranian President Ebrahim Raisi have stirred widespread anger
Authorities in Tehran have officially confirmed the tragic passing of Iran's president, Ebrahim Raisi, following a helicopter crash last night
The US Defence Department and the Nigerien Ministry of National Defence have reportedly reached an agreement for the withdrawal of US military forces from Niger by September 15
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU