Peter II of Cyprus than trustworthy in this regard. Peter and Eleanor the Dowager Queen were held captive by the Genoese, who also attacked Limassol and Paphos, and entered the kingdom's capital, Nicosia. Peter's uncles John and James resisted successfully against the Genoese from the St. Hilarion Castle and from the town of Kyrenia. The following year (1374), Peter was forced to come to a humiliating agreement with the Genoese declaring that Kyrenia and what remained of Famagusta under would fall under Genoese sovereignty, that he would pay huge compensations to the Genoese, and that James would leave Cyprus. James obeyed and departed from
Economy of Cyprus Shiarly, stated that the European Central Bank, European commission and IMF officials are to carry out an in-depth investigation into Cyprus' economy and banking sector to assess the level of funding it requires. The Ministry of Finance rejected the possibility that Cyprus would be forced to undergo the sweeping austerity measures that have caused turbulence in Greece, but admitted that there would be "some negative repercussion". In November 2012 international lenders negotiating a bailout with the Cypriot government have agreed on a key capital ratio for banks and a system for the sector's supervision. Both commercial banks and cooperatives will