Posts by tag: government

Archives April 17, 2013 posted by

Cyprus Today


Turkish Cypriot side wants ‘its share’ of the gold 

THE TURKISH Cypriot leadership is claiming rights to the state gold locked away in the Cyprus Central Bank and earmarked for sale to meet the country’s financing needs. 

According to Turkish Cypriot reports, the office of Turkish Cypriot leader Dervis Eroglu issued a statement in response to recent considerations to sell most of the gold bought by the Cyprus Republic in the 1960s. The government confirms that a gold sale is one of the options being contemplated to raise €400 million as part of the Cyprus rescue package, though the final word rests with the Cyprus Central Bank. 

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Archives April 4, 2013 posted by

Blame game in full swing


THE CLINCHING of a final deal with the troika of international lenders on Tuesday sparked a fully-fledged blame game between ruling DISY, and opposition AKEL yesterday, even prompting President Nicos Anastasiades to join in.

Each side blamed the other for the memorandum of understanding (MoU) and each said the other had brought the country to ruin. AKEL, when it was in government had agreed an initial MoU with the troika last November. The deal reached on Tuesday was with the new government led by Anastasiades. Each said the other’s deal was worse.

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Archives March 30, 2013 posted by

Our View: Giving haircut exemptions to various groups will only make things worse

A GREECE-BASED organisation known as the Association of Industries of Northern Greece has written to Greek finance minister Yiannis Stournaras urging him to contact Eurogroup members and demand that Greek businesses with accounts in Cyprus banks should be exempted from the haircut on deposits, reported Cyprus News Agency yesterday.
The Association said that the bail-in was “absolutely unfair for Greek businesses” and asked Stournaras to secure “exemptions” along the lines that these were secured for the accounts of the Cyprus state sector, municipalities and universities.

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Archives December 4, 2012 posted by

Prices to rise as more people living under poverty line


FOOD PRODUCERS yesterday warned that the prices of staple items like milk, bread and meat will rise, adding to the woes of Cypriot households already contemplating shrinking incomes as a result of austerity measures and tax hikes on the way. 

According to the state broadcaster yesterday, food producers warned that the ever-rising price of grain has left them with no choice but to increase the retail price of their products in January. 

Cattle farmer representatives told CyBC that producers have absorbed the increasing grain prices for long enough, and can do so no longer. 

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Archives November 29, 2012 posted by

CyTA weighs up whether to give the government another €100m loan

TELECOMMUNICATIONS giant CyTA has found itself stuck between a rock and a hard place in weighing up whether to give the government another €100m loan or see the state unable to pay public servants’ 13th salaries. 

CyTA chairman Stathis Kittis yesterday confirmed the semi-government telecoms organisation had to decide between feeding a cash-strapped state with another sizeable loan or watching as it fails to pay public servants’ 13th salaries.  

Speaking to the state broadcaster CyBC, Kittis said the government request for a second €100m loan was submitted some days ago, noting that “CyTA is examining whether we have the resources available, whether we can lend to the government”.

He added: “No decision has been reached yet.”

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Archives October 31, 2012 posted by

Malas releases personal finances information

AKEL-backed presidential hopeful Stavros Malas yesterday released information on his personal finances and assets.

According to the information made public by his election staff, Malas has €15,471 in bank accounts, while the loans he has taken out amount to €449,561.

He owns immovable property in Anthoupolis/Archangelos, Kambos, Pigenia and Kato Panayia, of a total value of €46,130 (in 1980 prices).

Malas promised also that if and when he takes office in March, and before the Cabinet is sworn in, he would disclose the personal finances of the ministers in his government.

The 45-year-old stepped down as Health Minister earlier this month shortly after announcing that he would be running for president.

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Archives October 31, 2012 posted by

Probe against ‘placebo paediatrician’ dropped

THE Cyprus Medical Association (CMA) has decided to end its probe against a paediatrician accused three years ago of administering placebo vaccines to teenagers.

“The decision was mainly based on the fact that unfortunately, the unexpected death of the disciplinary council’s member doctor, Dr Simos Ellinas, resulted in the medical council’s composition being altered, which based on current legislation, makes it obligatory for the case’s trial to start from the beginning again,” the CMA said.

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Archives September 21, 2012 posted by

Suspect in Isaac murder released

THE TURKISH man suspected of being involved in the beating to death of a Greek Cypriot in 1996 has been released by authorities in Kyrgyzstan, after being arrested earlier in the week.

Erhan Arikli, who had been on INTERPOL’s wanted list, was taken to a Kyrgyzstan court on Wednesday, According to Attorney-general (AG) Petros Clerides the court was not satisfied with Cyprus’ justification for an extradition request, and released Arikli.

The police are seeking a meeting with all interested parties to discuss the next move.

Deputy police spokeswoman Lefki Solomondos yesterday said the force had informed the AG, defence ministry and all relevant authorities on the Kyrgyzstan court’s ruling.

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Archives September 21, 2012 posted by

'We'll raise our fees if you lower yours'

THE ISLAND’S health system cannot be fixed in one fell swoop but if the state raises its fees, and the private sector lowers theirs, it will be a step in the right direction, the ministry’s permanent secretary said yesterday.

Dionysis Mavronicolas was discussing in parliament a proposed bill introducing among other things, changes in the state’s healthcare charges including a 30 per cent hike in hospital fees.

Mavronicolas said the changes would bring in some €13 million a year.

With changes next year in cross-border healthcare and with an increasing number of people using state service due to the crisis, the health ministry must discourage abuse of the system and needs to increase fees, parliament heard.

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Archives September 19, 2012 posted by

AKEL: still room to negotiate good deal with troika

THE leader of ruling AKEL yesterday suggested there was room for negotiation with the island’s lenders in a bid to avoid unwanted measures like scrapping 13th salaries.

Andros Kyprianou said the government has asked for financial assistance from the EU and the IMF but it did not mean Cyprus must accept anything they proposed without objection.

Especially when the measures proposed have been enforced in other countries and have not yielded any positive results, Kyprianou said.

“Why not negotiate with the troika, voice our arguments, submit our views and try to put together a package that will again lead to economic recovery but will have different contents,” Kyprianou said.

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