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Cyprus News Agency: News in English, 13-01-16Cyprus News Agency: News in English Directory - Previous Article - Next ArticleFrom: The Cyprus News Agency at <http://www.cyna.org.cy>CONTENTS
the EP [01] Moody's downgrades three major Cypriot BanksMoody`s Investors Service has downgraded the senior unsecured debt and deposit ratings of three Cypriot banks to Caa2 and lowered the standalone credit assessments of two of those banks, Hellenic Bank Public Company Ltd to caa3 from caa2 and Cyprus Popular Bank Public Co Ltd to ca from caa3. The outlook on the banks` senior debt and deposit ratings is negative.According to Moody's, the rating action is triggered by the downgrade of Cyprus`s government bond rating to Caa3 on 10 January 2013, and reflects the uncertainty regarding the timing and conditions of a finalised Memorandum of Understanding (MoU) between the Cypriot government and the International Monetary Fund, the European Union and the European Central Bank to finance bank recapitalizations. Moreover, the rating agency says that it reflects heightened risk of sovereign default, which could jeopardise the effectiveness of bank recapitalisations once the external support programme is in place, as well as the associated impact of increased sovereign credit risk on banks` standalone credit profiles, given the banks` sizable portfolios of government securities. [02] President presents results of first Cyprus EU Presidency before the EPPresident of the Republic of Cyprus Demetris Christofias has stressed that the first Cyprus EU Presidency achieved significant results and targets for the Union and shared his thoughts for the future of Europe, asking for more solidarity and social cohesion.Presenting on Tuesday before the European Parliament, in Strasbourg, the results of the first Cyprus EU Presidency. he said that "our main aim during our six-month Presidency was to contribute constructively to furthering European integration. I honestly believe that the main results of our Presidency, are undeniable proof of our positive contribution". In addition, he said that the EU was awarded the Nobel Peace Prize but at the same time, Cyprus, a full EU member state, is partly occupied by an other state (Turkey) which aspires to join the EU. [03] Barroso pays tribute to Cyprus EU Presidency on ÔwitterEuropean Commission President Jozé Manuel Barroso paid tribute on Tuesday, via his twitter account, to the achievements of the Cyprus EU Council Presidency which run at the 2nd half of 2012."I pay tribute to Cyprus Presidency and to its achievements", Barroso says in a short comment on twitter. "Small country with big European commitment!" he adds. [04] Trade deficit shrinks in first 10 months of 2012Cyprus` trade deficit decreased during the first ten months of 2012, according to data released on Tuesday by Eurostat.The deficit was reduced by 400 million euros, compared to the corresponding period of 2011. According to the same data, Cyprus` total value of exports for January-October 2012 stood at 1.2 billion euros, recording an increase of 6% compared to the corresponding period of the previous year. [05] Omirou: Parliament contributes to successful Cyprus PresidencyThe House of Representatives has contributed to the success of the Cyprus Presidency of the Council of the EU, House President Yiannakis Omirou has said.Speaking on Tuesday at a dinner he hosted for all the House employees who worked for the Cyprus Presidency, Omirou noted that despite all the difficulties, the restrictions and the particularities, the Cyprus House has delivered the goods with enthusiasm and zeal and has worked really hard, contributing to the reliability and credibility of the country. Omirou said that Cyprus proved that it was an honest broker and worked for the promotion of the interests of the EU. He underlined that Cyprus, without taking advantage of its role as the country presiding over the Council of the EU and without exploiting the Cyprus problem, has managed to bring out Turkey's arrogance and its stance towards the Cyprus Presidency and the EU as a whole. [06] Economy the focus of the first debate between Presidential candidatesThe economic troubles Cyprus is faced with and the way forward were the focus of the first televised debate between the three main Presidential candidates on Monday evening.The debate which took part at the Cyprus Broadcasting Corporation (CYBC) was broadcasted live by the four biggest television stations in Cyprus. DISY leader backed by DISY and DIKO Nicos Anastasiades, ruling AKEL backed Stavros Malas and socialist EDEK backed Giorgos Lillikas replied to journalists' questions on the economy and on the responsibilities the next government will be called on to shoulder. Cyprus News Agency: News in English Directory - Previous Article - Next Article |
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