The European Commission and the ECB believe that despite the considerable (but uneven) progress made, the quantity of non-performing loans in Cypriot banks is still very high.
“Strengthening confidence has allowed banks to broaden their deposit base and to improve liquidity and capital buffers”, the two European institutions write in a declaration following the post-economic adjustment programme monitoring mission that concluded on Friday 31 March. In January, additionally, the Cypriot...