An approximated 16 billion euros has been lost by the Hellenic economy, due to the postponement of state payments and business transactions, amounting to almost 9% of its GDP in 2014.

Yesterday, the Bank of Cyprus stated that it will downsize its EBC funding dependency by €0.95 billion, as a result of a government bond repayment portion.

Cypriot President Nicos Anastasiades addressed the graduating class of the Cyprus University of Technology yesterday, and declared the importance of focusing on the island's future.