April 2, 2013 |
ATHENS -- The finance minister of Cyprus, Michalis Sarris, resigned Tuesday after brokering the final details of a complex and controversial bailout cobbled together to keep the island's faltering financial system from crumbling. Sarris' decision to quit the government was accepted by President Nicos Anastasiades, who issued a terse statement thanking him for his service. It was not immediately clear who would replace Sarris, the target of fierce criticism for his handling of a $20-billion rescue deal that forces many depositors at Cyprus' two biggest banks to chip in with emergency levies up of to 37.5% on their savings.
February 6, 2013 |
Germany's education minister defied calls for her resignation Wednesday after a university stripped her of her doctorate upon concluding she had plagiarized parts of her thesis. Allegations that Annette Schavan had lifted parts of her 1980 thesis have dogged her for months. The University of Dusseldorf announced Tuesday night that an internal probe had determined the minister had “systematically and deliberately” used uncredited work that was not her own. A faculty council voted to invalidate the doctorate.
January 22, 2013 |
Stock and bond markets in the U.S. were closed Monday for the Martin Luther King Jr. holiday, but trading took place in the rest of the world. European stocks rose while German bonds declined as European finance ministers met for the first time this year to discuss the debt crisis. The Stoxx Europe 600 Index added 0.3%, with the volume of shares changing hands 34% less than the 30-day average. In Japan, the yen rose from a two-year low, strengthening 0.5% to 89.64 yen per dollar.
January 17, 2013 |
ATHENS -- Greek lawmakers are to decide Thursday whether two former prime ministers and two ex-finance ministers should be investigated and potentially prosecuted on allegations of covering up suspected tax cheats in the nation's biggest tax-evasion scandal in decades. The explosive controversy puts former Finance Minister George Papaconstantinou at the center of a murky tale of intrigue and alleged cover-ups that has gripped Greeks for months. Near-daily disclosures have undermined the government's bid to revive public confidence and to crack down on widespread tax evasion.
January 17, 2013 |
ATHENS - Greek lawmakers voted Friday to launch a congressional investigation of allegations that former Finance Minister George Papaconstantinou tinkered with a list of suspected tax cheats, erasing the names of three of his relatives in the biggest tax-evasion scandal in decades. The 265-6 vote, with three abstentions and some invalid ballots, capped an explosive 14-hour parliamentary debate that kicked off Thursday and put the former political strongman and architect of the country's first austerity program at the center of a murky tale of coverups, intrigue and corruption.
December 14, 2012 |
The kidnapped mother of the Nigerian finance minister has been freed, Nigerian officials said Friday, ending the search five days after the elderly retiree was seized outside her home in Delta state. “The Okonjo family is full of thanks to the Almighty for this happy development,” Paul Nwabuikwu, an adviser to Finance Minister Ngozi Okonjo-Iweala, said in a Friday statement. Few details were available about how Kamene Okonjo was returned. Nigerian police could not be reached by phone and did not immediately respond to an email from The Times seeking comment.