Cyprus banks must shrink further and lay off staff, says Finance Minister

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Cyprus banks must shrink further and lay off...
 © In-Cyprus 2020
Finance Minister Harris Georgiades has made clear that the rebirth of the collapsed Cyprus Co-operative Bank is out of the question.

Because, he explained to MPs yesterday, the government cannot and will not proceed with any such action or invest in any bank due to supervisory restrictions.

He also told House Committee on Development Plans and Public Expenditure Control members who raised the issue again exactly a year after the peoples’ lender went down that they could take the initiative to set up a new Co-op bank.

Yesterday’s meeting was also attended by...


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Cyprus banks must shrink further and lay off staff, says Finance Minister


The contents of this article including any associated images are © In-Cyprus 2020
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