Posts by tag: Mari explosion

Archives June 24, 2012 posted by

Governing Greece: consensus should now be the priority


GREECE gave democracy as a gift to the world but now the country has to look elsewhere for inspiration to sustain its first coalition government in decades.

Pro-European Union parties have met their first challenge to form a majority government in the parliament. The second more formidable task will be to make this coalition as inclusive and credible as possible for broader social forces to endorse the much-needed institutional reforms. 

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Archives April 27, 2012 posted by

More students dropping out due to crisis

STUDENTS’ union POFEN yesterday said it was concerned that many students were having to drop out of higher education as the economic crisis has made it impossible for them to carry on.

POFEN met with the president of the University of Nicosia’s Council, Nicos Peristianis, to discuss the university’s commitment to the Cabinet last January that it would continue with the same fees as last year, until the end of April.

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Archives November 27, 2011 posted by

UNDP spending €28m on projects

THE UN Development Programme – UNDP – is spending just under €28 million on current projects in Cyprus, the organisation said this week.

The funds are used for the promotion of reconciliation between the two communities and the protection of the island’s cultural heritage.

Around €9 million is being used for the building of urban infrastructure in the Turkish Cypriot community, €4 million on the waste-water treatment plant at Mia Milia, €2 million for works at the Limnitis crossing point, €1.9 million for the exhumation of missing persons and €1.5 million for projects involved in the protection of cultural heritage.

The remainder of the funds are for 17 projects aimed at reconciling the two communities.

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Archives November 2, 2011 posted by

The Greek haircut and the Cyprus real estate market

With the share price of one of the banks in Cyprus having fallen to a 12 year low, the repercussions of the 50 percent haircut on Greek bonds and now the possibility of Greece defaulting are devastating – and the Cypriot real estate sector is part of the problem.


BANKS lend approximately €0.90 of every €1.00 they take in deposits. The remaining €0.10 they hold as ‘liquidity’. Liquidity is a financial term that means the amount of capital that is available as cash at the request of the financial institution. Today, most of this capital is tied up in investments such as equities and bonds, which (theoretically) can be sold and converted into cash at the discretion of the bank.

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Archives October 9, 2011 posted by

Like a terminally sick patient, Cyprus is in denial

AS COUNSELLOR to the terminally ill, I have come to know the most common reactions to seriously bad news from the doctor. The similarity between the mental state and symptoms of the government of Cyprus and those of my patients has struck me forcibly.  

Recently diagnosed terminal patients often react by trying to flee from the situation. This symptom is known as denial that anything is amiss. Reality is too horrible to face.

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