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page break for the banking system in Cyprus

Cyprus Banking System Changing...

The issue of reductions in interest rates was discussed by President Nicos Anastasiades and Central Bank Governor Chrystalla Georghadji in a meeting on Tuesday, the Cypriot Government requires rate cut as facilities to consumers.

Speaking to reporters after the meeting, Papadopoulos said that “the President met with Mrs Georghadji today, as part of his regular contacts on economic matters”, in the presence of Finance Minister Harris Georgiades. Hopefully soon be heard by banks... The recent developments in the Cyprus economy were reviewed, and opinions were exchanged on various issues raised by Anastasiades.

There is no question debate but demand from the government to advance the interest rate reduction processes. Asked whether the issue of reductions in interest rates was discussed, Papadopoulos acknowledged that “this was discussed among other matters, as well as the simplification of procedures for new bank loans, loan restructurings, and other issues of concern to banks and borrowers during this period”.

Meanwhile, the issue of Georghadji’s contract, which she altered unilaterally, causing a political thunderstorm some weeks ago, will be the object of a draft report by the House Ethics Committee, which discussed the matter following the revelations.

Ms. Charalambidou said that the committee has agreed with the preparation of a draft report that will be handed to parties next week “for comments and remarks”.

The president , however , is optimistic that Cyprus page turns and any unsafe banking issue or non confidence, will be restored soon.

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