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Cyprus News Agency: News in English, 13-10-31

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] ICFCBS issues recommendations on Cyprus` financial recovery
  • [02] Euro area annual inflation down to 0.7%

  • [01] ICFCBS issues recommendations on Cyprus` financial recovery

    The Independent Commission on the Future of the Cyprus Banking Sector, which published Thursday its Final Report, saying that though the list of its recommendations looks daunting, it is in Cyprus' power to address all of them.

    The Commission, which laid out some 35 recommendations on the recovery of the Cyprus banking industry, stressed that the current lack of depositor confidence in banks due to the bail-in is the major issue facing the banking industry.

    It also said that weaknesses in the supervision of Cyprus' banks at both the macro- and micro- levels have contributed to the crisis. .

    [02] Euro area annual inflation down to 0.7%

    Euro area annual inflation is expected to be 0.7% in October 2013, down from 1.1% in September, according to a flash estimate from Eurostat.

    It said that by looking at the main components of euro area inflation, food, alcohol and tobacco is expected to have the highest annual rate in October, followed by services, 1.2% and non-energy industrial goods.

    Energy prices showed a decline of 1.7%.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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