Cyprus-Forum.com

[supporttheunderdog]

Cyprus faces 'material' risk of default, warns S&P - Telegraph
http://www.telegraph.co.uk/finance/financialcrisis/9882866/Cyprus-faces-material-risk-of-default-warns-SandP.html

Cyprus faces a "material and rising risk" of defaulting on its sovereign debt, especially if international lenders do not approve a vital bail-out package for the country, rating agency Standard & Poor's has warned.

[supporttheunderdog]

ekathimerini.com | Cypriot banks need up to 9 bln in aid
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_23/02/2013_484321

The Greek-exposed banking system of Cyprus needs up to 9 billion euros as part of an EU bailout to save the island from bankruptcy, a report said on Friday.

The official CNA news agency said a due diligence review by US consultancy Pimco put the amount for bank recapitalisation at 8.86 billion euros, based on an adverse scenario.

The government argues international lenders should adopt Pimco's baseline scenario -- reported to be 5.98 billion euros -- as it would ease the terms of the loan. But a Pimco document leaked in the Cypriot media this week showed the US firm expects the island's economy to worsen as it slides deeper into recession

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Cyprus Bailout Has June 3 Cut Off to Avoid Default - Real Time Brussels - WSJ
http://blogs.wsj.com/brussels/2013/02/23/cyprus-bailout-has-june-3-cut-off/?mod=brussels

When bailout talks leave negotiators without any good choices, decisions are often put off as long as possible. In the case of Cyprus, this has been going on since the end of June, when Nicosia first requested help from the rest of the euro zone and the International Monetary Fund. (For more about the full Cyprus conundrum, click here.)

But as with others before it, for Cyprus there will also come a time when it actually needs the money if it wants to avoid default. Greece has already had two of these do-or-die moments. In 2010, euro zone leaders had to cobble together a€110 billion bailout package so Athens could pay back some €8.5 billion on May 19. A similar deadline loomed on March 20th last year, when a €14.5 billion bond redemption forced the euro zone and the International Monetary fund to agree on a second international rescue and a restructuring of the country’s privately held debt.

For Cyprus, the cut-off date for negotiators from the euro zone, the ECB, the IMF and the government in Nicosia is June 3, when €1.42 billion in four-year government bonds fall due. That may seem like small change in a crisis that has already approved some €350 billion in bailout money, but for Cyprus €1.42 billion is a whopping 8% of gross domestic product.

[supporttheunderdog]

Cyprus's Debt Conundrum
Island's Woes May Ripple Far Beyond the Shore - WSJ.com
http://online.wsj.com/article/SB10001424127887323549204578318273916354996.html

The debt troubles of Cyprus, a small Mediterranean island economy accounting for 0.2% of the economic output of the euro zone, are creating headaches for the entire 17-nation currency bloc.

[CBBB]

We know!

[supporttheunderdog]

We know!

But may be some who do not live here do not!

[CBBB]

We know!

But may be some who do not live here do not!

I am sure that anyone with an interest in Cyprus, which I expect is the majority of people that visit this forum, know.

[supporttheunderdog]

We know!

But may be some who do not live here do not!

I am sure that anyone with an interest in Cyprus, which I expect is the majority of people that visit this forum, know.

yes just as I keep track on what happens in the UK,,,,,

[cyprusgrump]

We know!

But may be some who do not live here do not!

I am sure that anyone with an interest in Cyprus, which I expect is the majority of people that visit this forum, know.

Some know it yet still deny it....

How long before somebody posts on this thread that : -

a) The UK has had its credit rating downgraded
b) The Cyprus €uro problem is a conspiracy between the UK and the US

[supporttheunderdog]

How long before somebody posts on this thread that : -

a) The UK has had its credit rating downgraded

they can start their own thread like " The news from the UK for the home sick Brits" but then this is Cyprus Forum and no doubt those who will be interested in such matters will be posting/looking on English fora or news sites...