Daily Archives: December 22, 2012

Archives December 22, 2012 posted by

Mixed messages on Cyprus haircut

DESPITE GOVERNMENT efforts to quash concerns of a Cyprus debt haircut, yesterday’s  mixed messages coming from international players who now hold the fate of the island’s economy in their hands made any predictions on Cyprus’ future as valuable as a Chinese fortune cookie.
Yesterday’s comments on a potential haircut from representatives of the European Central Bank (ECB), International Monetary Fund (IMF), Eurogroup, Germany and Russia would have left most analysts scratching their heads as to what exactly is the troika’s plan for Cyprus.

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Archives December 22, 2012 posted by

Our View: AKEL propaganda machine goes into overdrive

WHEN IT comes to distorting the facts, nobody can beat the government and AKEL. The latest misinformation campaign initiated by the party is related to the semi-government   organisation (SGOs), which according to official lore, the government succeeded in resisting troika attempts to have privatised as part of the bailout. This so-called achievement was presented as a big triumph, proof of the government team’s negotiating skills.

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Archives December 22, 2012 posted by

‘New downgrade is meaningless’ spokesman says

THE LATEST downgrade of Cyprus’ sovereign credit rating by two notches means little since Cyprus has been shut out of the international markets since April 2010, said government spokesman Stefanos Stefanou.
Credit rating agency Standard & Poor’s (S&P) downgraded late Thursday Cyprus’ long and short-term sovereign credit rating to `CCC+/C` from `B/B`, citing intensified financing pressures and delay in the agreement on a financial assistance package with international lenders.
This is the third downgrade by S&P since last August.

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Archives December 22, 2012 posted by

Fined hundreds for stealing €30 worth of tuna and halloumi

TWO people who stole a few items of food for their families were recently fined hundreds of euros for their action, prompting the attorney-general to request their case files to evaluate the courts’ actions.
“I received two case files today and I will examine the cases to see if the decision is justified,” attorney-general Petros Clerides said yesterday.
One man in Larnaca was reportedly fined €250 for stealing canned tuna worth around €8 and a Limassol-based man was asked to pay €700 after he got caught stealing cheese worth €19.
The stores notified the police that compiled the charges and forwarded the case to court.
The press published the cases, saying that the Greek Cypriot men, both aged 52, resorted to stealing to feed their families.

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Archives December 22, 2012 posted by

It’s a time for giving… and a time for taking, police warn

CHRISTMAS is generally considered a time for giving, but for others it’s a time of taking, so police are warning the public to keep their belongings close and make sure their homes are safe from burglars.
The men in blue will be enforcing special measures in the run-up to the festive period according to police spokesman Andreas Angelides. “The police force would like to wish the public a safe year end, hoping it will be without any bloodshed, fatal car crashes and reduced crime,” he said.  “The police will make every effort to make sure the holidays are safe for everyone.”
The police will be increasing their patrols in public places and in areas with shops and shopping malls as part of their campaign to prevent burglaries and thefts.

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Archives December 22, 2012 posted by

‘MPs are contributing enough’ says House president

HOUSE PRESIDENT Yiannakis Omirou yesterday defended parliament’s decision to vote against a proposal for slashing MPs’ own representation allowance by 15 per cent during Wednesday’s vote on the 2013 budget.
Explaining the decision of the majority of parliament to vote down the cost-cutting measure, Omirou said: “MPs earnings have been reduced as have all employees in the wider public sector based on legislation which regulates the reduction of salaries and pensions of all public employees in a scaled manner.”
He also highlighted that MPs have seen a freeze on wage increases and the cost of living allowance, while they have also made a one-off contribution to the state, as well as accept the taxation of their representation allowance.

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Archives December 22, 2012 posted by

‘Disastrous year’ for migratory birds as trapping hits 11-year high

AUTUMN 2012 trapping levels have hit a new 11-year high since the start of the BirdLife Cyprus field surveillance programme in 2002, exceeding even the record levels recorded in 2010, the organisation said yesterday.
“This picture is disappointing as it reveals an ecological disaster that took place during the Cyprus Presidency, and despite all the continuous calls from BirdLife Cyprus for effective measures to be taken to tackle this chronic problem. The ‘zero tolerance’ approach promised last year at the Bern Convention Conference in Larnaca by the Cyprus and UK competent authorities has clearly not been translated into more effective deterrent action on the ground,” BirdLife said in an announcement yesterday.

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Archives December 22, 2012 posted by

Illegal abattoir discovered

LARNACA District Court yesterday ordered three suspects to be held for five days in connection with the operation of an illegal abattoir in the farming district of Aradippou.
The three suspects are the 52-year-old Cypriot owner of the premises, a 59-year-old from Kivisili who acted as the company secretary, and a 50-year-old Bulgarian worker.
Police were patrolling the area on Thursday when they saw three people handling illegally slaughtered sheep and goats. Two of the three suspects, believed to be Egyptian workers,  fled the scene but the Bulgarian remained behind.
Police found 40 slaughtered sheep and goats and 202 animal skins on the premises, as well as two Veterinary Services stamps for animal tagging.

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Archives December 22, 2012 posted by

Power cuts

CONTINUED rains caused power cuts in 15 communities in the Paphos district on Thursday night.
The power went out at around 11pm, when an aerial line was swept away by flood waters flowing from the river of Xeropotamos, affecting the communities of Anarita, Nata, Axylou, Amargeti, Choletria, Kelokedara, Stavrokonou, Asprogia, Pentalia, Statos, Panagia, Kanavi, Yiolou, Pelathousa and Lysos, said Electricity Authority of Cyprus (EAC) spokesman, Costas Gavrielides.

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Archives December 22, 2012 posted by

House prices slump even more

PROPERTY prices and rents have been falling island-wide in the third quarter (Q3) of the year with Nicosia and Limassol faring the worst, the Royal Institute of Chartered Surveyors (RICS) Cyprus index has shown.
“The worsening state of the Cyprus’ economy and the growing political and economic uncertainty across the eurozone led to a pronounced slowdown in mortgage and corporate lending and a further rise in the rate of unemployment,” the report said.
With the exception of selling “prime homes in the Limassol area,” there were no notable transactions with property being “increasingly viewed as a risky asset and one with negative prospects in the near to medium term,” RICS said.

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