Posts by tag: bomb

Archives April 16, 2013 posted by

In olden days at least highway men wore masks

IN THE past, highwaymen used to rob the rich but made sure that their faces were covered.  In the case of Cyprus, Germany and the troika, presided over a robbery of billions of euros from private savers in order to save the euro for the umpteenth time.  

The deal offered to Cyprus is in fact a nasty and immoral political act, and the only thing it has achieved, besides bankrupting Cyprus, was to strike fear into the rest of the European countries because it established a precedent.  

After all if European Common Market Nations are willing to save their currency by committing such acts, why not repeat it next time, and for the same reason, in Spain, Italy and Greece? 

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Archives January 23, 2013 posted by

Mayor’s funeral

THE funeral of the late mayor of Ayia Napa, Antonis Tsokkos, is due to take place today at 2pm at the Church of Panagia in Ayia Napa. There was widespread shock and sadness at the news of  Tsokkos’ unexpected death on Monday. According to police, the 59-year-old complained of breathing difficulties in the morning, but died before paramedics arrived at his home. An autopsy by state pathologist Nicholas Charalambous carried out at Larnaca General Hospital yesterday revealed the cause of death was a heart attack.

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Archives January 18, 2013 posted by

Questions remain in gas furore

QUESTIONS remained yesterday over precisely what deal the government had struck with international lenders – the troika – on the management of future proceeds from natural gas.

Around 11 days ago, the finance ministry sent to the troika the commerce ministry’s draft law for a national hydrocarbons fund that would manage gas revenues.

But according to daily Alithia, the troika was not happy with the contents of the bill. The paper said the troika informed the finance ministry that the proposed legislation violated the terms of the memorandum of understanding (MoU) with the government.

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Archives January 17, 2013 posted by

Banks will need €10b at the most, CB boss says

CENTRAL Bank Governor Panicos Demetriades yesterday said that Cypriot banks will need at most, less than €10 billion in rescue money, as he dismissed money laundering allegations as “greatly exaggerated.”

In an interview with the Associated Press, Demetriades said Cypriot banks would need at worst “less than €10 billion” in rescue money, but did not provide a specific figure.

Citing a reliable source, the Cyprus News Agency said the amount was close to €9.0 billion but negotiations were still ongoing.

Cyprus is currently engaged in discussions with its lenders and the company that undertook a due diligence on banks in a bid to adjust downwards the figure attached to the worst-case scenario.

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Archives November 15, 2012 posted by

Financial woes led to spate of fake notes

A 39-YEAR-OLD kiosk owner from Aradippou in Larnaca was arrested on Tuesday and taken to Larnaca District court yesterday on charges of counterfeiting euro notes. Sufficient reason was given to hold the man for six days, police said.
“A search warrant was obtained to search the man’s residence and place of work after the owner of a petrol station reported that he had received a 20 euro note that appeared to be fake,” Larnaca police spokesman Christos Andreou said.

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Archives August 23, 2012 posted by

AEL take slender lead over Anderlecht

BELGIAN side Anderlecht got a precious away goal, but still have some work to do in the second leg of the Champions League playoff after falling to a 2-1 defeat to Cyprus champions AEL on Wednesday night at the GSP Stadium in Nicosia. It was a physical match, with seven yellow cards and one red card that set things up nicely for the return leg next Tuesday.

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Archives May 27, 2012 posted by

Narrow escape

A 21-year-old man from Paphos narrowly escaped serious injury and possible death after his car broke out in flames when he had an accident.

According to the police, the youth had been driving along Eleftherias Street in Mandria when under as yet unknown circumstances, he lost control and swerved onto the pavement, before slamming into a traffic sign.

His car caught fire and the 21-year-old just about managed to make it out. He was taken to Paphos General Hospital where he was treated for minor injuries and kept in as a precaution. The car was completely destroyed.

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Archives May 17, 2012 posted by

Gas bids assessed

Commerce Minister Neoclis Sylikiotis yesterday launched proceedings to open the 15 bids submitted by 29 companies from around the world in Cyprus’ second licensing round for offshore hydrocarbon reserves.

Sylikiotis sent a letter to the ministry’s permanent secretary as well as the chairman of the advisory committee in charge of examining the applications, informing them about it.

The aim, said the minister, was to start assessing the bids as soon as possible.

Speaking after he met with party representatives to inform them on energy matters, Sylikiotis also announced that he would be visiting Israel on June 11 to discuss the possibility of collaboration in the energy sector with his Israeli counterpart.

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Archives May 12, 2012 posted by

Bleak forecast for economy

THE EUROPEAN Commission’s (EC) Spring forecast for Cyprus yesterday painted a bleak picture of this year’s finances with real improvements expected only in 2013.

The EC noted a near 1.0 per cent diversion from the government’s commitment to the EU to keep the deficit at 2.5 per cent of GDP by the end of 2012, forecasting a 3.4 per cent deficit compared to last year’s 6.3 per cent.

“Driven by the recent consolidation efforts, the government deficit is set to narrow to 3.4 per cent of GDP in 2012 and 2.5 per cent of the GDP in 2013,” said the Commission. 

The EC also expects the GDP to shrink by 0.8 per cent by the end of this year, while public debt will increase from 71.6 per cent in 2011 to 76.5 per cent this year and 78.1 per cent in 2013.

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