THE PARLIAMENT IN CYPRUS HAS REJECTED FOR THE SECOND TIME THE GOVERNMENT'S REQUEST TO COMPLY WITH THE EUROPEAN UNION DEMANDS FOR BANK FEES INCREASE IN ORDER FOR CYPRUS TO QUALIFY FOR THE EUROPEAN UNION FINANCE RESCUE PACKAGES.

THE PARLIAMENT IN CYPRUS HAS REJECTED FOR THE SECOND TIME THE GOVERNMENT'S REQUEST TO COMPLY WITH THE EUROPEAN UNION DEMANDS FOR BANK FEES INCREASE IN ORDER FOR CYPRUS TO QUALIFY FOR THE EUROPEAN UNION FINANCE RESCUE PACKAGES.

       The Parliament in Cyprus has once again and for the second time rejected the government's request to comply with the European Union demands for bank fees increase in order for Cyprus to qualify for the European Union Finance Rescue Packages. This has obliged the government to change direction towards Russia for the solution of the finance crisis being sought, particularly in the bank sector in Cyprus of which Russia Federation may find it difficult to resolve, due to the current hard currency crisis being faced by the bank sector and the government in Russia. However, the European Union government with various groups within the Eurozone that includes the Private Sectors and Private Believers have remained committed to the resolution of the finance crisis being sought, if both the government with the Parliament accept their offer for the finance assistance being sought, particularly in the bank sector in Cyprus.

                                                  Written by Professor Godfrey Ohia.