Silent occupation steps from Israel in Southern Cyprus...

As a matter of fact, news sites based in Israel and Southern Cyprus announced that the Tel Aviv Stock Exchange (TASE) is preparing to purchase the Cyprus Stock Exchange (CSE).

According to the news in question, the Tel Aviv Stock Exchange, chaired by Itay Ben Zeev, plans to participate in the tender to be held by the Greek Cypriot government for the privatization of the stock exchange. While Greek Ministry of Finance sources state that the tender preparations have come to an end and that the legal approval of the Greek Chief Public Prosecutor George Savvides is awaited for the process to become official, they also emphasize that Israel is not the only bidder for the stock exchange.

Giants are also involved

It is stated that when the tender is opened, other global finance giants such as "Euronext", Europe's largest stock exchange operator, "Euronext" (which acquired the Athens Stock Exchange a year ago) and the National Stock Exchange of India (NSE) are expected to participate in the tender, as well as Israel, while the value of the Nicosia-based Cyprus Stock Exchange is stated to be around 20 to 40 million Euros.

While it was noted that the stock exchange was relatively small-scale, the Israeli press stated that the model that envisaged a stock exchange operating other stock exchanges in different parts of the world was interesting. Experts state that the Tel Aviv Stock Exchange aims to provide broader and direct access to the Euro Zone financial markets with this move. As a matter of fact, experts state that some legal prospectuses that enable Israel to sell bonds in European Union countries have expired and have not been renewed, so the Israeli financial system has started to look for alternative ways.

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