One more year to meet budget targets. This is what the troika has granted to Cyprus to reach a budget surplus of 4%, bringing the limit to 2017. This is what was reported by the spokesman of the government of Nicosia Christos Stylianides, who specified that the government is trying to grant the companies access to 40% of their deposits with banks over 100 euros.
In the meantime, investigations continue on the small Mediterranean island to understand what really triggered the crisis and what the real relationship between politics and finance is. The Parliament of Cyprus will open an investigation into suspicious amnesties that the island's lenders allegedly granted to politicians and entrepreneurs, worth several million euros.
According to the Greek newspaper Kathimerini, Bank of Cyprus, Hellenic and Laiki Bank have forgiven the loans granted in the last five years to politicians, public officials and private companies. To verify the real responsibilities, a commission led by three judges of the Supreme Court will be set up, who will try to ascertain even if large sums of money have been transferred abroad before and after Parliament's refusal to make a forced withdrawal on bank deposits.
