Co-op decision difficult, but positive for economy, EU official says

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Co-op decision difficult, but positive for...
 © CyprusMail 2018
The decisions concerning the Cyprus Cooperative Bank (CCB) were difficult for Cyprus but enabled positive developments for the island’s economy, EU Commissioner Competition Margrethe Vestager said on Friday.

Vestager, who is visiting Cyprus, met Finance Minister Harris Georgiades with whom she discussed the developments after the Commission approved the state-aid to facilitate the CCB’s market exit and the transfer of its performing operations to Hellenic Bank.

Last July the state issued bonds amounting to €3.19 billion to support the transfer of the CCB’s performing...


This article was automatically added to our system 14-9-2018

Co-op decision difficult, but positive for economy, EU official says


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