Statement of Commissioner Barnier following agreement in ECOFIN on bank recovery and resolution
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Central Bank’s 17th Decree
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Eurogroup Statement on Cyprus
16 March 2013 Eurogroup Statement on Cyprus The Eurogroup welcomes the political agreement reached with the Cypriot authorities on the cornerstones of the policy conditionality underlying a future macroeconomic adjustment programme. The programme will be based on ambitious measures to ensure the stability of the financial sector, determined action to carry out the required fiscal…
E.U Council agrees position on bank resolution
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Cyprus, New Law Regulating Fiduciary Services
Cyprus, New Law Regulating Fiduciary Services For the purposes of regulating the professional activities provided in the framework of administrating private companies by other companies the law on the Regulation of Fiduciaries, Administration Businesses and Company Directors, which transposes the provisions of Directive 2005/60/EC into national law, has been enacted by the Cyprus Parliament on…
Supreme Court’s Judgment on Administrative Recourses regarding the Bank Resolution Decrees (“Bail in”)
By a majority of seven to two, the Supreme Court of Cyprus issued on 7th of June 2013 its judgment regarding the administrative recourses filed against the Banks’ Resolution Decrees dismissing the same on the ground of non-admissibility. A vast number of recourses filed against the so called “bail in” Decrees should be now considered…