Government stresses need to solve problem of Non Performing loans in Cyprus
Government Spokesman Prodromos Prodromou stressed the need for a solution to the problem of Non-Performing Loans in Cyprus.
He was replying to questions on Sunday about the opposition’s criticism for the way the government handled the sale of state-owned Cyprus Cooperative Bank (CCB) to Hellenic Bank.
The state was forced to buy the CCB in 2012 by injecting 1.8 billion euros and further intervened when in 2013 the CCB had 300 million euros negative working capital. “The CCB’s losses were large”, said Prodromou, according to a Presidency of the...
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