Case Studies

Generating discussion for ICFCBS around the future of the Cyprus banking sector

Following the economic crisis in Cyprus, the Independent Commission on the Future of the Cyprus Banking Sector (ICFCBS) contracted Action to raise awareness of the report put together by an independent commission of banking experts, making recommendations and suggesting solutions for the long term recovery of the Cypriot banking sector.

 

In order to communicate the findings, as well as lobby support for the recommendations made in the report, the Action team organised a series of media events and press releases directed at the specific target audiences.

 

Global press releases for international markets highlighting the main findings of the reports were issued, along with local press releases prepared specifically for the Cyprus market with more in-depth information on the local issues identified and addressed. Action also arranged a press conference to announce the findings of the final report, which was followed by a lively Q&A session with local media and international news wires. Additional one-to-one phone and broadcast interviews, as well as written Q&As were arranged with top financial media across Europe.

 

Despite the challenge of achieving unbiased coverage on the topic at a time when the Cypriot banking sector was under intense scrutiny both locally and internationally, the report received a strong response from both the public and the media in Cyprus and internationally.

 

The Commission’s findings received more than 100 clippings in Cyprus alone, and were covered in all major local newspapers in both print and online, while significant TV and radio coverage was generated with the story reported across all news bulletins. Key stakeholders and the general public also showed a strong level of interaction.

 

On an international level, Action managed to secure over 750 clippings across major newswires including Associated Press, Reuters and Bloomberg. One-to-one interviews with key financial journalists were arranged as well as appearances on the panels of dedicated financial programmes, ensuring that the report’s findings and the experts behind it were top of the news agenda for several days.