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The collapse of Cyprus's two largest banks forced the tiny country to seek an international bailout and impose an unprecedented lockdown on its financial system, bringing it to the edge of leaving the euro. An examination of regulatory documents, conference-call transcripts and financial filings shows that both banks gorged on Greece while nearly everyone else was purging.
In late , even after German and French leaders had openly agreed that creditors of fiscally weak governments should take losses on future bailouts, the two Cypriot banks appeared nonchalant about their exposure to Greek government bonds. Skip to Main Content Skip to Search.
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It was designed for purposes that are similar to monasteries, and now functions as an ethnographic museum as well, reflecting the rites of the sect. The Lapidary Museum was originally built as a guesthouse for the pilgrims visiting the St. Sophia Cathedral now the Selimiye Mosque. It hosts a collection of architectural artifacts and antiquities that have been excavated. Theatre is very popular in Northern Cyprus, and as such, long queues form for the ticket sales of the festival, with the number of theatre-goers increasing every year.
Since then, the orchestra has grown and developed several branches, including the Children's Choir, Folk Music Choir, Pop Orchestra, Latin Orchestra and the Chamber Music Orchestra, with about 90 participants, most of whom are volunteers. The orchestra frequently delivers concerts and participates in big musical festivals held in the country.
At times, the orchestra delivers concerts at open spaces, such as parks and squares. It also holds composing contests. The city hosts several folk dance groups, which organize annual festivals to perform Cypriot folk dances. Several modern dance activities also take place in the city, where several dance schools are established.
As of the — educational year, North Nicosia was home to a student population of over 34,; Near East University is the largest university in Northern Cyprus with 25, students; Cyprus International University has students and the University of Mediterranean Karpasia has The Near East University was founded in and its campus is a few kilometers away from Nicosia proper. The Near East University owns a supercomputer that ranks the 13th in the world and the first in the region in terms of computation speed and capacity, used to help universities from Turkey in their research along with the university itself, and has participated in the Large Hadron Collider experiment at CERN , as well as Ebola virus disease treatment research.
Examples of research conducted include excavations that have uncovered the earliest human bones that have ever been found in Cyprus and possible devices that could be implanted on the human body to facilitate communication. The Grand Library of the Near East University is home to over 1 million printed and million electronic resources and is visited by more than people daily, and agreements have been signed to share these resources with Turkish institutions.
In the North Nicosia urban area there are 21 state-owned institutions that offer primary education, along with three special institutions for children with disabilities. North Nicosia is a major transport hub in Northern Cyprus, where the highways from the other major cities of Northern Cyprus, Famagusta , Kyrenia and Morphou intersect. It is connected to the other cities with modern, four-lane highways: the D highway from Morphou to Famagusta passes through Nicosia, D to Kyrenia.
There is no train or metro system nor plans to develop one. In , plans to build a tram system were put forward but rejected, yet the popular opinion is strongly in favor of establishing one. North Nicosia has seen the construction of new highways and roads recently to solve its traffic problem, including the construction of two ringroads in the s.
Whilst the construction stalled for a time due to land disputes, the work on the project recommenced in A bicycle-sharing system called Velespeed was introduced by the municipality in The system consists of bicycles and stations for rental or drop-off placed across the city, within 15 minutes of cycling distance of one another. There is also a large following of Turkish football teams in the city, with celebrations in the Dereboyu area for their victories.
The city annually hosts the Nicosia Marathon, to which over a thousand people participated in , including leading political figures. North Nicosia is home to several sports venues. The complex also hosts an athlete training facility, and is accessible to disabled athletes. North Nicosia has hosted international sports organizations.
Its prospects of hosting and participating in many international tournaments are hindered by an international sports embargo. The universities contribute significantly to the sports life of North Nicosia. The Near East University has the only Olympic pool in the island with an area of square meters, and over people have attended swimming courses in the pool.
It hosts an indoor sports hall, an indoor swimming pool, tennis courts and other facilities from a beach handball arena to a climbing wall. North Nicosia is twinned with:. Arabahmet Mosque. From Wikipedia, the free encyclopedia. See also: Culture of Northern Cyprus. This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
May Learn how and when to remove this template message. See also: List of twin towns and sister cities in Northern Cyprus. Ledra Street. Cyprus portal. Retrieved 4 January Archived from the original PDF on 6 March Retrieved 26 March Promoting peace with information: transparency as a tool of security regimes Princeton University Press, p.
Archived from the original on 17 April Retrieved 10 March US Library of Congress. Retrieved 18 June Oxford University Press. Nicosia Turkish Municipality. Archived from the original on 3 January Retrieved 7 January Archived from the original on 7 January Retrieved 6 January Archived from the original PDF on 24 September Retrieved 12 August Archived from the original PDF on 7 March Archived from the original on 4 March Retrieved 3 January Archived from the original on 4 January Archived from the original on 25 July Eastern Geography Review.
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Retrieved 9 June Near East University. Cyprus International University. Archived from the original on 21 December Crimea News Agency. Archived from the original on 29 January Archived from the original on 25 February Archived from the original on 8 November Haber KKTC. Archived from the original on 19 September Retrieved 21 September Retrieved 28 April Archived from the original PDF on 5 March Archived from the original on 12 June Turkish Cypriot Football Federation.
Akdeniz News Agency. Retrieved 29 August Archived from the original on 17 July World Stadiums. Archived from the original on 2 October The decision of the Romanian High Court of Justice is final. A decision was imposed by EU finance ministers to force depositors in Cyprus to take a loss bail in , in order to help fund an International Monetary Fund and euro zone bailout bail-in in the case of Bank of Cyprus: with From Wikipedia, the free encyclopedia.
This article may lend undue weight to certain ideas, incidents, or controversies. Please help improve it by rewriting it in a balanced fashion that contextualizes different points of view. December Learn how and when to remove this template message. Traded as. Operating income. Net income. Main article: — Cypriot financial crisis. Bank of Cyprus. Retrieved 31 August Retrieved 15 November Archived from the original on 12 June Retrieved The Business Report.
Retrieved 27 September Archived from the original on The Economic Times. Retrieved 17 December Retrieved 4 March International Business Times UK. Financial Mirror. Retrieved 13 December Romanian Business Insider.