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Sarris insists “disaster avoided” for Cyprus

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2 years ago

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http://www.euronews.com/ Disaster avoided for the many maybe, pain for the few for sure, and a palpable sense of relief on the podium as Cyprus’s Finance Minister promised the banks would reopen soon after the last-ditch deal on the EU bailout was clinched.

Laiki bank will go under along with thousands of jobs, but the alternative was truly horrendous for Cyprus.

“Essentially it’s not that we won a battle, but we really have avoided a disastrous exit from the eurozone,” explained Michael Sarris.

Europe’s sacrosanct 100,000 euro deposit guarantee has been maintained, but Cyprus is not yet off the hook.

“I don’t think that there is any denying that the Cypriot people will have to go through some tough times and will suffer the consequences of a protracted period where wrong decisions were made,” added Sarris.

Some people were out on the streets to protest following the announcement, but although small investors have been protected, a coach and horses has been driven through the rules for big investors. The EU may have said all along Cyprus was an exceptional case, but where will the big money go now? Equally, citizens in EU member states groaning under austerity might wonder when their governments will do more to protect them.

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EU will never be a neutral mediator between Ukraine and Russia, says Kallas

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24 minutes ago

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June 1, 2026

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EU will never be a neutral mediator between Ukraine and Russia, says Kallas

The High Representative has dismissed the buzz over a special envoy for talks with Russia, arguing the EU will “never” be a neutral mediator between Moscow and Kyiv. “We have been clearly on Ukraine’s side,” she said.

READ MORE : http://www.euronews.com/2026/05/28/eu-will-never-be-a-neutral-mediator-between-ukraine-and-russia-says-kallas

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Hungary must reform for its people not for EU, Commissioner McGrath tells Euronews

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2 hours ago

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June 1, 2026

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Hungary must reform for its people not for EU, Commissioner McGrath tells Euronews

In a wide-ranging interview with Euronews, the EU Justice Commissioner dampened hopes that the frozen Hungarian EU funds could be disbursed any time soon.

READ MORE : http://www.euronews.com/2026/05/29/hungary-must-reform-for-its-people-not-for-eu-commissioner-mcgrath-tells-euronews

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Young American sentenced to six-years hard labour in North Korea

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3 hours ago

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June 1, 2026

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A North Korean court has sentenced an American national to six-years hard labour for “hostile acts” against Pyongyang.

Matthew Miller, was arrested in April after arriving as a tourist.

Authorities claim he ripped up his visa and sought asylum in the country.

During the trial the court saw notes written that claim the 24-year-old became a fugitive because of his involvement with Wikileaks.

It is unclear how these notes came to be written or why.

The US government says securing the release …
READ MORE : http://www.euronews.com/2014/09/14/young-american-sentenced-to-six-years-hard-labour-in-north-korea

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Can the EU make cross-border train travel as simple as booking a flight?

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4 hours ago

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June 1, 2026

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One ticket. One contract. One set of rights. 🚆
The EU wants to make cross-border rail travel seamless — no more juggling bookings across operators.

How can Europe simplify rail travel?

Watch #EUXL

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Latest news bulletin | May 28th, 2026 – Morning

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7 hours ago

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June 1, 2026

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Latest news bulletin | May 28th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this May 28th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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