Adverse conditions chance to rebuild regulatory framework, Pijls says

By Marie Kambas

The current “adverse” conditions in Cyprus’s banking system and economy are an opportunity for the island to correct structural distortions that brought it to this situation and create a “tighter regulatory framework” which will allow both Cypriots and foreigners develop trust and confidence in it, the Hellenic Bank chief executive officer Bert Pijls said.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.