1. Panteio University of Political and Social
Sciences
Department of Communication, Media and Culture
Advertising and Public Relations Lab
Crisis Management Workshop
Instructor: Mania Xenou, CEO Reliant
Communications
Head of Advertising & PR Lab, Assistant Professor
Betty Tsakarestou (@tsakarestou)

2. The Cypriot «No» to the EU tax
bill as seen in russian &
romanian media

3. Government and Parliament of Cyprus looking for
where to get the money to avoid bankruptcy
Cyprus parliament rejected
Europe’s stringent conditions
to gather from all depositors in
banks almost 6 milliard euros as
the only way to earn the
European credit for 10 billion
euros.
In this case, German
Chancellor Angela Merkel
toughly warned Cyprus from
trying to get help from
someone else, including
Russia. As we can see, it
produced the opposite
reaction.
Cypriot authorities searched
today a political solution to the
crisis in the capital of Russia.

4. This morning, after yesterday's call of Cyprus President to Vladimir Putin
,came to Moscow Michalis Sarris ,headed straight to the Ministry of
Finances, but in such a hurry, these kind of negotiations on such huge sums
is unlikely to give any results.
Coming out of the doors
of the Ministry of
Finance Michalis Sarris
looked
perplexed, whether
from the fact that his
car was gone
somewhere, whether
from the conversation
with the Minister Anton
Siluanov.
Irony, Arrogance

5. There is a Poker game, and the two
sides are fighting, the Eurogroup, and the
crucial role is Germany’s, and the
government of Cyprus, well I think that
somehow Russia got dragged in this
game. Of course, in this situation the EU
is not behaving correctly , when it
brusquely «advises» Cyrus not to
conduct discussions or negotiations with
Russia,and tells to focus on the EU, I think
this is, as they say, too much.
Allegory on an european game, diassaproval on EU methods, claim
that Russia was not a part of it, accuses EU of unfair, unproper
behavior regarding Cyprus issue.

6. The citizens met with glee the Parliament's
decision, because the Cypriot society’s attitude
toward the European position is in fact a consensus :
it is robbery.

7. Today in Moscow the whole
day, they are trying to solve the
most acute global economic
problems of the last days - the
financial crisis in Cyprus. In
fact, the "bad luck island " is
also desperately looking for a way
out of the impasse.
Last night the Cypriot Parliament did
not accept the scandalous
decision on the actual seizure of
bank deposits, and many
investors, including
Russian, breathed a sigh of relief.
But the problem has not been
solved.
Headline: Cyprus, the bad luck island

8. Cypriot parliament rejected the tax on
deposits. Moreover, none of the members did
not support the authorities and the
Eurogroup’s project, which offers to the
plunged in the the financial problems island
an escape through the forces of bank
depositors.
Cyprus refused to save the economy with
the forces of bank depositors.
From the deposits of Cypriot residents
was required a simultaneously cut of a
few percent for the state,in exchange for
10 billion euros of financial assistance
from EU. The same goes for large foreign
investors. Russian companies and private
individuals for example, could lose on
this hundreds of millions of euros. That
has caused, to put it mildly, Moscow’s
perplexity.

9. Great expectations Nicosia links with Russia, where
came to negotiate the Cypriot Minister of
Finance, Michalis Sarris. Today he met with First
Deputy Prime Minister Igor Shuvalov and head of the
Russian Ministry of Finance Anton Siluanov.
This visit was about a lot of great
expectations
Michalis Sarris even
canceled a press
conference, as
probably, he simply
had nothing to say.
For Cyprus, this
meeting is almost of
fateful importance.
Meanwhile, there is an uprising pressure on Cyprus from our European
neighbors. German Chancellor Angela Merkel in a telephone
conversation with the President of the island nation Nikos
Anastasiadis, said the country should negotiate about the rescue only
with the triple creditors: the EU, the IMF and the European Central Bank.

10. Cyprus proceeds to state of emergency

11. "The scheme is absolutely absurd"
• Cypriot parliament banned the tax bill to write off
money from bank deposits. There were no votes
"for". The rejection of the proposal to write off
deposits threats with default, but officials
promise a "plan B", without specifying its
content. Finance Minister Michalis Sarris can
return from Moscow without portfolio. The post
is proposed to Head of Finance Committee of
Parliament, Nicholas Papadopoulos. It is a
guarantee that the tax bill will not pass on, and a
sign of reconciliation with Moscow, who criticized
the decision to write off deposits.

12. • Russian Prime Minister Dmitry Medvedev and
European Commission President Jose Manuel
Barroso exchanged reproaches on the "Cyprus
issue". Position of Europe - the tough decisions
are unavoidable because bloated financial sector
in the economy. Russia believes that the
European Commission's proposals are absurd and
undermines the global financial system. The
failure of the Moscow consultations may lead to a
default of Cyprus. Local parliament is preparing
anti-crisis laws - to limit the movement of capital
and the bank bankruptcy.

13. • Premier believes that further steps to resolve
the Cyprus problem must take all interested
parties, including Russia
• Also Prime Minister said that Europe’s
suggested scheme to resolve the situation in
Cyprus is "absolutely absurd» , taking into
account the international community's efforts
to build mutual confidence in the financial
sector.

15. • According to the prime minister, while attempting to resolve the
debt problem on the island, there were made all the possible
mistakes.
• On Wednesday, March 20, Russian Prime Minister Dmitry
Medvedev described the joint action by the EU, the European
Commission and the Government of Cyprus to resolve debt
problems that the island encountered.
• - «The actions of the European Union, the European
Commission, together with the Government Cypriot to resolve the
debt problem, unfortunately, remind of those of the elephant in a
china shop». Whether they got bored and miss the crisis, or they
just forgot what happened a few years ago - said the prime minister.
• In this case, Medvedev said, he does not exclude the fact that this
kind of problems may destroy the entire banking system in Cyprus.
In this case, according to Medvedev, "Cyprus and the persons who
are responsible for the beginning of this very difficult period " must
expect for a large number of lawsuits from private and government
institutions.

16. The Cypriot Parliament rejected Tuesday
night, the controversial taxation of deposits.
• The measure sparked popular anger and
nervous movements of financial markets.
About a third of deposits belong to Russian
citizens in Cyprus, so Cypriot Minister of
Finance Michalis Sarris, traveled to Moscow
on Tuesday to calm spirits. Sarris denied that
he would resign.

17. Crisis in Cyprus: What could gain
Romania and how see the Romanians
there the taxing of bank deposits
• Taxation deposits in Cyprus has caused a real hysteria among the
population, and the financial markets. Consequently, the Parliament in
Nicosia rejected the measure, sending the Mediterranean country into a
higher level of the crisis.
• Under these circumstances, we can attract these depositors in our
country, which has a more stable banking system than Cyprus. In
addition, the yields paid by banks operating in Romania are better.
• Instead, Cristian Parvan, general secretary of the Association of
Businessmen (AOAR), believes that money will not migrate from Cyprus to
Romania, but to other fiscal paradises.
• "Cyprus is a serious and negative signal for all depositors of all EU
countries that are in a bad financial situation (Italy, Spain, Greece). I don’t
think that Romania will become a target for depositing money. There are
other destinations like Luxembourg, San Marino
, Lichteistein, Monaco, Netherlands, Switzerland, which provide greater
safety and favorable legislation, " he said, for Ziare.com.

18. Russia refused to help their partners in Cyprus, so now the
brunt rests on the shoulders of parliamentarians, who must
decide on a new plan proposed by the government.

19. «Even if it will be found a solution to save Cyprus overnight, however this
country will lose a lot, because investors will not just stand there and they will
withdraw their money as soon as they will be available or when Cypriot banks
will give it to them. From our perspective, what is happening in Cyprus and
does not help us at all and probably until things settle down there we will see
pressure on the exchange rate, »said Cristian Hostiuc, editorial director of Ziarul
Financiar.

20. • «Want it or not, you must
save the country.» Huge
Tax for deposits of over
100,000 from Bank of
Cyprus
• After a week of
negotiations and plans, it
seems increasingly clear
that who has over $
100,000 in an account
will help Cyprus, willy-
nilly, to save the country
from bankruptcy.

21. Sources:
• http://www.1tv.ru/newsvideoarchive/pd=20.03.2013
• http://www.ntv.ru/novosti/526064/
• http://www.ntv.ru/novosti/525376/
• http://russia.tv/video/show/video_id/305698/brand_i
d/5402
• http://russia.tv/video/show/video_id/307233/brand_i
d/5402
• http://www.gazeta.ru/business/2013/03/21/5111057.s
html
• http://www.gazeta.ru/subjects/krizis_na_kipre.shtml

22. • http://www.kp.ru/online/news/1395416/
• http://www.kp.ru/online/news/1394985/
• http://www.ziare.com/bani/depozite-banci/criza-din-
cipru-ce-ar-putea-castiga-romania-si-cum-vad-romanii-
de-acolo-taxarea-depozitelor-bancare-1225318
• http://www.ziare.com/europa/tari-
europa/parlamentul-din-cipru-a-respins-taxarea-
depozitelor-bancare-1225228
• http://stirileprotv.ro/stiri/financiar/vrei-nu-vrei-salvezi-
tara-taxa-uriasa-pentru-depozitele-de-peste-100-000-
de-la-bank-of-cyprus.html