Official Approval of the Cyprus – Troika Loan Agreement by the Cyprus Parliament

By MarEx 2013-04-30 14:06:00

Following the approval by the Eurogroup on 12 April 2013, in Dublin, the Cyprus Parliament today officially approved the Cyprus – Troika Loan Agreement.

This approval marks the end of the long negotiations between the Troika and the Republic of Cyprus and initiates the beginning of the re-financing of the banking system in Cyprus and as a result the stabilisation and subsequent recovery of the Cyprus Economy.

In addition, the temporary restrictions which apply to banking transactions are continuously being reduced by the day, and the measures taken for the implementation of the provisions of the Loan Agreement are continuing, taking always into account the resolution of any operational issues that have developed as a result of the recent problems in the banking system of Cyprus.

In this respect, the Cyprus Shipping Industry continues its high standard operation without any interruptions, remaining fully committed to Cyprus as its base of operation and the Cyprus flag.

The products and services herein described in this press release are not endorsed by The Maritime Executive.