Cyprus Mail www.cyprus-mail.com
Wednesday, March 6, 2013
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Bailout aims met says government Spokesman reiterates there is no question of a deposits haircut By George Psyllides
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HE government said yesterday its objectives were achieved regarding the bailout, after EU finance ministers agreed to bail out Cyprus while a controversial money laundering audit will be carried out with the participation of a European committee and the Central Bank of Cyprus. Eurozone finance ministers pledged on Monday to agree a bailout for Cyprus by the end of March, but details of how the rescue will be financed were yet to be sorted out. Officials however did not remove the deposit haircut option from the table, prompting Nicosia to once more reject such an intention and censure its EU partners. “There is no question of a haircut on deposits, full stop,” government spokesman Christos Stylianides said, suggesting that the lingering vagueness helped serve other expediencies. Cyprus managed however to convince its partners for a money-laundering audit to be carried out jointly by a private firm and the Council of Europe experts MONEYVAL, under the supervision of the Central Bank. In February, the Eurogroup said a private-sector firm should be appointed to assess the Cypriot banking system’s compliance with anti-money laundering regulations – a proposal rejected by Cyprus.
Stylianides described Monday’s decision as a big achievement by Sarris, who had been under intense pressure throughout the meeting. The spokesman said Cyprus was now entering the final phase and there was a very serious probability of having a final agreement by the end of this month. “This is very important because it finally gives a clear timeframe and the Cypriot economy stops being in insecurity and uncertainty,” Stylianides said. European Commission Vice-President Olli Rehn said the agreement on money laundering was an important step forward. “In our view, this review is the most convincing means of effectively addressing persistent concerns about the rigorous implementation of this framework,” he told a news conference on Monday night. Senior troika officials were expected on the island today for talks with President Nicos Anastasiades and the Central Bank Governor. Meanwhile, other troika officials are on the island to gather information about semi-government organisations (SGOs) which could be privatised if the public debt is deemed unsustainable. “It was a given… that the troika would complete a review of all SGOs,” Stylianides said of a preliminary agreement between lenders and the previous ad
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Finance Minister Michael Sarris (centre) with Greece’s Finance Minister Yannis Stournaras (left) and Dutch Finance Minister, Eurogroup President Jeroen Dijsselbloem during the ecofin Finance Ministers meeting in Brussels yesterday
Life on the run ends for fugitive jailed after 20 years A SECURITY guard who spent almost 20 years as a fugitive in the US was today jailed for five years after admitting one of Britain’s most audacious thefts. Eddie Maher, known as Fast Eddie, stole £1.2 million from the Securicor van he was driving and fled. The 57year-old from Essex was arrested in Missouri in February last year after living under various aliases, including Stephen King. He was deported to Britain last May. He had been wanted by Suffolk police since the Securicor van disappeared outside Lloyds Bank in Felixstowe on January 22, 1993. While his colleagues entered the bank, Maher drove off with 50 bags of notes and coins.
By the time police tracked his van, he had vanished. A reward of up to £100,000 was put on his head. Investigations were carried out in Cyprus and the West Indies after reported sightings but the trail soon went cold. In fact, he built a new life with partner Deborah Brett and their son Lee, who was three at the time of the theft. Yesterday Maher, grey-haired, balding and dressed in a suit, appeared at Southwark crown court, where he entered a last-minute guilty plea after being expected to fight the case. Police revealed details of property investments they say he funded from the proceeds of the crime, including a
$120,000 Colorado home bought with cash six months after the theft. Later Maher built an 80-acre ranch in Colorado before moving around the states of Florida, Wisconsin, Texas, Pennsylvania and Minnesota. He grew a beard and wore over-sized spectacles to change his appearance. Maher’s life unravelled when his son, Lee King’s, disgruntled ex-wife Jessica King contacted US authorities to tell them he was a wanted man, the court heard. Brett, 47, Maher’s sister Margaret Francis, 64, and a 54-year-old man from Woodford Green are on bail after being arrested on suspicion of conspiracy to commit theft.