Tag: Cyprus casino resort
Cyprus to license for first casino resort
July 22, 2013
From Fox News – Cyprus’ government says the Cabinet has decided to issue a license to build the bailed-out country’s first casino resort. Spokesman Christos Stylianides said Thursday that the license will be granted to the successful bidder within 12 months in order to provide a quick boost to public finances and help the battered economy with jobs and revenue. To prevent the collapse of its wobbly banking sector and avoid bankruptcy, Cyprus signed in March a 23 billion euro ($30 billion) financial rescue deal with it euro partners and the International Monetary Fund. Under the deal’s terms, Cyprus forced…