close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
January 24, 2013

Cyprus has nothing to hide from closer bank scrutiny

Lahore

January 24, 2013

NICOSIA: Cyprus has nothing to hide from closer EU scrutiny of its financial sector, an official said Tuesday, with Germany reportedly baulking at a bailout deal for the Eurozone member due to money laundering claims.
“Cypriot authorities, with transparency, will continue to focus on this issue and we have no objection in cooperating with organisations or committees that deal with this issue,” government spokesman Stefanos Stefanou told state radio.
“We have nothing to hide regarding the allegations (money laundering) against Cyprus,” he added.
Eurogroup finance ministers made no decision on a rescue package for Cyprus at a meeting in Brussels on Monday because negotiations on bank recapitalisation are continuing.
They said a decision would most probably be taken in March.
After Monday’s Eurogroup meeting, German Finance Minister Wolfgang Schaeuble was quoted in media reports as suggesting that worries still persisted over Cyprus because of a perceived lack of transparency.
He said Eurogroup ministers were demanding “stronger surveillance” of money laundering and stronger transparency on bank fraud.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus