Mediterranean crossroads

Six months ahead of Cyprus’s accession to the European Union, the European Commission has concluded that Cyprus’s legal framework for money laundering is comprehensive and that the second money laundering directive has been largely transposed. Katerina Joannou reports.

Highs and lows

The clean billing in the European Commission’s Comprehensive Monitoring Report on Cyprus’s Preparation for Membership is good news for a financial centre whose reputation has been through a series of highs and lows in the last decade.