Insider Business CCB board resigns

CCB board resigns

The board of the state-owned Cyprus Co-operative Bank resigned on Tuesday as crucial consultations continued over the future of the island’s second largest bank.

The resignation was accepted by the government as the Council of Ministers met urgently to finalise the Estia scheme for vulnerable borrowers and to take on board proposals submitted by DIKO to new measures to tighten the framework on NPLs.

Government spokesman said the current members will remain in their posts until the establishment of an asset management agency for NPLs.

Reports said that the resignation of the CCB leadership had been one of the conditions  set by DIKO president Nicolas Papadopoulos  when he met President Nicos Anastasiades yesterday.

Speaking on Radio Active on Tuesday morning, Papadopoulos said his party expected the government to accept political responsibility for the plight of the co-op. He said the resignation of the CCB’s leadership was the minimum before DIKO’s executive bureau meets to decide on the party’s stand at Friday’s crucial plenary of the House of Representatives.

 

Read more

https://in-cyprus.com/news/business/crucial-hours-for-ccb-deal/

Top Stories

Commissioner Kyriakidou calls for urgent action to relieve pressure on public hospitals

  Health Commissioner Stella Kyriakidou called for urgent immediate action to protect lives following the rise in the percentages of covid-19 new cases throughout Europe. 'We...

Five students and two teachers tested positive to COVID-10 in occupied areas

Five students and two teachers have tested positive to COVID-19 in the occupied areas. This was announced by “education minister” Nazim Cavusoglu who added that...

New website of the Foreign Ministry in operation as of 27 October

As of yesterday, the new website of the Foreign Ministry is accessible at www.mfa.gov.cy. The new page aims to upgrade and make the public’s communication...

Professor Kostrikkis: Masks are like safety helmets

“I share the people’s discomfort from the use of the protective masks everywhere,” Leondios Kostrikis, Professor of Biological Sciences at the University of Cyprus...

Parties want to deprive corrupted officials from benefits

  DISY, EDEK and the Greens are looking to deprive benefits that state officials receive if they are found guilty of corruption charges. The parties have...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...