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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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More world leaders arrive in Doha to honour Qatar’s former emir

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8 minutes ago

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July 19, 2026

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More world leaders arrive in Doha to honour Qatar’s former emir

European delegations continued to arrive in Qatar on the third day of national mourning, with France, Germany and Britain among those sending senior representatives, as Iran’s foreign minister, the UAE president, Jordan’s king and Palestinian president also paid their respects.

READ MORE : http://www.euronews.com/2026/07/15/more-world-leaders-arrive-in-doha-to-honour-qatars-former-emir

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Australia’s new $69 million library becomes home to a copy of Shakespeare’s First Folio

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1 hour ago

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July 19, 2026

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Australia’s new $69 million library becomes home to a copy of Shakespeare’s First Folio

Australia’s Museum of Old and New Art (MONA) has opened its highly anticipated new library, featuring 30,000 items, including Shakespeare’s First Folio. The collection ranges from children’s books and artworks to rare books and historic maps.

READ MORE : http://www.euronews.com/2026/07/18/australias-new-69-million-library-becomes-home-to-a-copy-of-shakespeares-first-folio

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Latest news bulletin | July 16th, 2026 – Morning

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2 hours ago

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July 19, 2026

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Latest news bulletin | July 16th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this July 16th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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Latest news bulletin | June 25th, 2026 – Morning

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3 hours ago

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July 19, 2026

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Latest news bulletin | June 25th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this June 25th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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Queen Elizabeth’s coffin travels from Buckingham Palace to Westminster

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4 hours ago

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July 19, 2026

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The coffin with late Queen Elizabeth II’s body travels from Buckingham Palace to Westminster through central London on a gun carriage, with the king and other royals walking behind.

It will be placed in Parliament’s medieval Westminster Hall, where the Archbishop of Canterbury will conduct a short service. The queen will then lie-in-state for four days, until the morning of her funeral. Members of the public will be able to pay their respects and troops will keep a round-the-clock vigil.

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