THE DRAFT memorandum outlining the bailout terms agreed with international lenders is “the best we could get under the circumstances”, said Finance Minister Vassos Shiarly yesterday.
Speaking to the Sunday Mail, Shiarly said the “bold” structural changes the country will be forced to implement under the bailout agreement will bring much-needed reform, acting as a “positive” force for change which will bring “benefit” to Cyprus.
The government released on Friday the full text of the bailout terms, which provide for spending cuts of over €1.2 billion between 2012 and 2016 and widespread reform of the banking and public sectors.Read More
HOPES that things would calm down after the memorandum of understanding was agreed with the troika have proved wishful thinking. While the political parties appeared have toned down their rhetoric, by a notch or two, Friday’s publication of the memorandum seems to have re-kindled the defiant populism that we had been served for months now.Read More
YOU HAVE to give credit to our commie rulers for the artful way in which they set the political trends. Months of relentless campaigning have finally paid off and bashing the banks has finally become terribly fashionable for the political class which is always looking for a safe target, preferably one that cannot fight back, to take shots at.
On Tuesday the first meeting of the House Institutions committee, called to investigate the causes of the banking collapse and those responsible, was held. As expected it evolved into the familiar circus with all deputies joining in the bank-bashing, in the hope their sound-bites would earn them a mention on the TV news.Read More
AN ELDERLY woman from Limassol has been conned out of €30,000 by another woman claiming to be her granddaughter. Police warned the public to be extra vigilant during these times of economic crisis, predicting more scams of this nature to come.
According to Limassol CID chief Ioannis Soteriades, a 72-year-old woman living in Episkopi in the Limassol District was contacted by a younger woman last Monday pretending to be her granddaughter who lives in Larnaca.
The woman told the pensioner that she has a serious health problem and needs €20,000 to travel abroad urgently for surgery.Read More
A PUBLIC prosecutor in Glasgow has issued an arrest warrant for a 45-year-old British Cypriot, Michael Voudouri, in connection with charges of money laundering, the Cyprus News Agency reported yesterday.
Voudouri was due to show up in the Scottish capital’s Supreme Court on Friday to hear what his sentence will be after pleading guilty to two cases of money laundering.
A month ago, the 45-year-old had confessed to hiding over £10 million (€12.3m) in accounts in Cyprus, Greece and Switzerland which had come from the collection of VAT on intra-European virtual transactions.
The British Cypriot originally faced charges of money laundering involving £45m (€55.5m) though this figure was reduced after his confession.Read More
A WOMAN was remanded in custody for eight days yesterday by the Limassol district court in connection with the murder of her 34-year-old husband.
The 39-year-old Greek Cypriot woman was arrested on Friday night in Kapsalos after police found her Romanian husband Adrian Andritoiu lying dead in a pool of blood in their kitchen.
According to police, the 34-year-old was fatally stabbed on Friday evening after an argument broke out between him and his wife after she pleaded with him to stop drinking alcohol. The two were preparing to host guests to celebrate the husband’s name day when the argument over his drinking turned violent.Read More
THE ELECTRICITY Authority of Cyprus (EAC) has been ordered to pay out €1.2m in compensation for placing high-voltage electricity pylons on privately-owned land.
The Appeals Court on Friday overturned a first court decision not to award compensation to the owners of the land in question, instead ordering the EAC to pay €825,000 in compensation plus interest since 2004, taking the total owed above the €1.2m mark.
According to yesterday’s Phileleftheros, the case centred on land owned by companies that initially refused to allow the EAC to install five electricity pylons on their property.Read More
SCORES of top secret files relating to the administration of the United Kingdom’s colonies may have been destroyed, British MPs were told this week.
The Foreign and Commonwealth Office is unable to confirm whether 170 boxes of classified documents which were returned to the UK at the end of the colonial era have been destroyed.
The admission, by Foreign Office Minister David Lidington, came as files relating to controversial British activities in Kenya and Cyprus were opened to the public.
Attempts by British colonial authorities to cover-up the killings of 11 prisoners during the Mau Mau uprising in Kenya were disclosed in the documents.Read More
A NEW hospice in Mesa Chorio in Paphos will be completed by the end of December and is on course to open its doors early next year.
Currently, the only functioning hospice in the coastal town is the Paphos Friends Hospice, which is situated in a dedicated wing of the Evangelismos hospital.
Archangel Michael Hospice – previously known as the Saint Michael’s hospice – has been an ongoing for close to a decade. Once open, the hospice will offer free palliative care to people with any form of life-limiting illness such as cancer, motor neuron disease, heart failure, end stage respiratory disease and kidney disease.
So far, supporters have raised €2.1 million. Initially, only the top floor of the facility consisting of nine double bedrooms will be in use.Read More