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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Troika could be back in Cyprus next week ]

Troika could be back in Cyprus next week

REPRESENTATIVES from the European Commission, the European Central Bank and the International Monetary Fund could return to Cyprus to work on a bailout deal next week, a senior eurozone official was quoted as saying yesterday.
Briefing the press ahead of a meeting of eurozone finance ministers in Brussels next Monday, the official said a bailout deal for Cyprus could be reached in late March.
 “I do strongly believe that we will be in a position to come to a conclusion by the end of March,” the official said.
Talks have dragged on for seven months since the island requested financial assistance in June of last year. Referring to the delay in reaching an agreement, the official said that an agreement had not been reached due to the previous government’s lack of will.
The same official said Cyprus and its prospective creditors were still “far apart” on concerns that the island facilitates money laundering and needs to beef up its legal and regulatory framework before receiving foreign assistance.
There were no immediate or medium-term concerns about the country running out of cash, he said. But Cyprus needs to repay a €1.42 billion bond maturing on June 3 and might not be able to afford it without foreign assistance.
Euroarea finance ministers aren't expected to reach any decisions Monday, although the Cypriot request would be on the agenda. “It is still too early for any decisions, given that no matter how experienced the new Finance Minister is, he will not be ready,” the official said.
But discussions at Monday’s Eurogroup meeting would yield a clearer picture on the next stage in bailout negotiations, he added.
He went on to say the EU appreciated the fact that Cyprus was already implementing the measures agreed in a draft agreement with lenders through cutbacks in the 2013 budget.

(Source: Cyprus Mail)
Copyright © Cyprus Mail 2008 Please contact Cyprus Mail for the copyright terms of this article.

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