Shiarly: haircut was never on the table (Cyprus Mail, May 3rd 2013)
Streit um Finanzhilfen: Zypern drängelt, Merkel bremst (Der Spiegel, Mar 15th 2013)
Rehn warns against Cyprus' eurozone exit (Euractiv, Mar 4th 2013)
Schäuble gibt bei Zypern-Hilfe nach (Sueddeutsche, Feb 25th 2013)
Schäuble verunsichert mit gewagter Taktik (Sueddeutsche, Feb 25th 2013)
GELDWÄSCHE-VORWÜRFE: Zypern muss Kontolleure ins Land lassen
(Manager Magazin, Feb 12th 2013)
Eurogroup ministers raise the stakes for Cyprus (DW, Feb 10th 2013)
The most obvious warning, yet .. including the knowledge of those who later imposed this option on Cyprus ...of the enormous risks:
(Thanks, @euronomist_blog, link added May 4th)
Radical rescue proposed for Cyprus
(Peter Spiegel & Quentin Peel, FT (paywall!), Feb 10th 2013)
Mario Draghi confronts Berlin over contagion from Cyprus default (Telegraph, Jan 29th 2013)
ECB's Draghi, German FinMin at odds over Cyprus-Spiegel (Reuters, Jan 27th 2013)
German Finance Minister Schaeuble says the Troika worry about drastic developments in Cyprus
(Jan 22nd 2013)
>>Cypriot banking sector is ‘noticeably oversized’<<German FinMin Schaeuble: Not Ready To Decide Over Aid For Cyprus (Jan 21st 2013)
Schäuble setzt Zypern die Pistole auf die Brust (Focus, Jan 21st 2013)
Russia-Cyprus Money Flows Imply Laundering, Schaeuble Says (Bloomberg, Jan 21st 2013)
Russia Must Be Part of Cyprus Bailout, Schaeuble Tells Lawmakers (Bloomberg, Jan 15th 2013)
WOLFGANG SCHÄUBLE ÜBER DIE EUROKRISE: „Wir haben das Schlimmste hinter uns“ (Bild, Dec 27th 2012)
Schaeuble’s Comments on Cyprus Were Misinterpreted, Shiarly Says (Bloomberg, Nov 1st 2012)
German minister drops Cyprus bombshell (Cyprus Mail, Nov 1st 2012)
Schaeuble says "considerable progress" on Greece (Reuters, Oct 31st 2012)
Germany’s Schaeuble Cautions Spain Against Aid Bid (Bloomberg, Sep 13th 2012)
June 27th 2012:
>>The Eurogroup welcomes the request of the Cypriot authorities for financial assistancefrom euro area Member States in view of the challenges that Cyprus is facing, inparticular due to distress in the banking sector and the presence of macroeconomicimbalances. The Eurogroup acknowledges that an adjustment programme seemswarranted at this stage and considers responding favorably to it. The Eurogroup alsowelcomes the request of Cyprus for financial assistance from the IMF, which in turnwould be considered in line with its internal procedures. Ministers invite theCommission, in liaison with the ECB, and the Cypriot authorities and the IMF to agreeon a programme, including the financing needs, and take appropriate action tosafeguard financial stability, in light of the current very challenging externalenvironment and spill-over effects from sovereign market turbulence.Based on a needs assessment, the euro area financial support would be provided in theframework of a comprehensive adjustment programme, building on the measuresalready taken by the Cypriot authorities and the recommendations put forward by theEuropean Commission on 30 May under the European Semester. The programme willbe negotiated by the Commission, in liaison with the ECB, with the Cypriot authoritiesand the IMF. After an agreement has been reached with the Cypriot authorities, theprogramme would be endorsed by the Eurogroup, in line with national procedures, onthe basis of an assessment by the Commission, in liaison with the ECB, and the IMF,of the financing needs and the conditionality that shall accompany the assistance.The Eurogroup is confident that the implementation of this programme would addressthe financial, fiscal and structural challenges of the economy in a decisive manner andshould allow Cyprus to return to a sustainable growth path.The programme will be based on:- Ambitious measures to ensure the stability of the financial sector by addressingexpected capital shortfalls and preserving the soundness of financial institutions,including restructuring and downsizing where needed.- Determined action to carry out the fiscal adjustment to support the ongoing processof fiscal consolidation.- Structural reforms to support competitiveness and sustainable and balanced growth,allowing for the unwinding of macroeconomic imbalances.The financial assistance package shall be provided by the EFSF or the ESM on thebasis of its financing instruments. The Eurogroup looks forward to a swift responsefrom the IMF to the Cypriot request after having completed its required internalprocedures. <<
(pdf, 1 page, europa.eu, Jun 27th 2012 )(via @ALeipold)
Well I hope that the help that will be given in Cyprus will be the answer to their economic crisis.
ReplyDeletebank bailouts