Cyprus

Cyprus has formally eliminated all domestic restrictions on money transfers, a watershed for the bailed-out country’s recovering banking system.

The Finance Ministry said on Friday that opening new bank accounts, which had been the last domestic capital control, is now permitted.

[AP]

A study prepared by Turkish and Greek Cypriot economists predicts that a peace deal would generate 20 billion euros for the divided island, by expanding the size of their economies Cyprus reunification deal would generate a 20-billion-euro ($27.2 billion) peace dividend for the recession-hit island, according to a study released.

The separate meetings with Turkish and Greek Cypriot negotiators held by French Foreign Ministry executives in Paris created some nerve on the Greek Cypriot side. In the very near future, negotiators Kudret Özersay and Andreas Mavroyannis will travel to London, for talks at the foreign office there…

A Cyprus reunification deal would generate a 20-billion-euro peace dividend for the recession-hit island, according to a study released on Thursday.

Turkish Cypriot chief negotiator played down the prospect of a quick solution in peace talks with his Greek rivals, warning that the discovery of natural gas in the region was possibly more of an obstacle than of help.

The negotiations to find a fair and equitable solution to the Cyprus problem was resumed on February 11 after a two-year hiatus with a Joint Declaration of the Greek and Turkish Cypriot leaders that provided an outline and main principles of the forthcoming negotiations. The US involvement was a well know secret at that point; but it is in the open now. Visit of U.S.

Bank deposits in Cyprus rose last month for the first time since December 2012, the central bank said on Wednesday, but that was only possible due to money from outside the European Union.

Net deposits increased by 266.3 million euros in April after declining 247.2 million euros in March.

Private-sector deposits in Cypriot banks fell slightly in April and deposits in other southern European countries hit by the eurozone debt crisis remained relatively stable, European Central Bank data showed on Wednesday.

Croatia's Brodosplit wins Venice contract

A European Commission report on the quality of bathing waters in the bloc in 2013 published on Tuesday showed that 93 percent of Greek beaches have excellent water quality, ranking the Mediterranean destination fifth behind Cyprus and Luxembourg (100 percent), Malta (99 percent excellent) and Croatia (95 percent).