Daily Archives: July 19, 2009

Archives July 19, 2009 posted by

Consumes have a choice to vote with their feet

THE COST of living has again topped the headlines this week, with the publication of Eurostat figures showing Cyprus has food prices six per cent above the EU average; hotel and restaurant costs were three per cent above average, but – more worryingly – were between 12 and 23 per cent more expensive than those in competitor destinations.

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Regulations and the shake-up of the Cyprus banking system

IN MARKET economies, identified as capitalistic, the role of government is, in principle, as minimal and unobtrusive as possible, whereas in communist countries, economic activity is guided by complicated networks of government regulations.

Even when deviations from idealised forms of these two economic systems are allowed (i.e. when the competitive mechanism in the former does not function satisfactorily) the government hand remains light, while in the latter, even when some concessions are made to private initiative, the hand of the government remains inordinately heavy, and the strongly adverse effects of regulations increasingly stifle economic activity.

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China: trouble in the colonies

“THE INCIDENTS in China are, simply put, a genocide. There’s no point in interpreting this otherwise,” said Turkey’s Prime Minister Recep Tayyib Erdogan last Friday.

He was talking about the deaths of at least 184 people in the recent street violence in Xinjiang, the huge province that occupies the north-western corner of China.

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What is the point of conscription?

SINCE THE end of the Cold War, the trend in Europe has been a move away from conscription for military service, in favour of volunteer forces and professional armies. Of the 27 EU member states, only a third still has conscript armies and in most of those countries the period of conscription is between four to 12 months, with the option of alternative service instead.

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Barefoot diva

A classic tale of rags to riches, Cesaria Evora from Cape Verde will take your breath away in a concert in Larnaca next week says ZOE CHRISTODOULIDES

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