Finance Minister's Negative Stance on Bank Tax Proposals
February 1, 2026
The Minister of Finance, Makis Keravnos, opposes proposals from parties like AKEL and ELAM for taxing banks. He mentioned the risk to the banking system due to excessive liquidity and the need for additional capital. Cyprus is still repaying a €6.5 billion loan from the European Stability Mechanism. He emphasized that tax reform affects most citizens. Cyprus's recent exit to the markets has positive implications for the citizens.