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Cypriot ‘no’ inspires Greeks to rail against austerity

By Harry Papachristou 21/03/13
GREEKS and opposition parties inspired by the Cypriot rejection of an unpopular bailout deal urged Athens yesterday to stand up to foreign lenders whose demands have resulted in repeated rounds of austerity that have made Greek life a misery."See what Cyprus did? We are proud of them," said Fey Papadopoulou, 22, a university student. "They should be an example for our politicians, who have succumbed to every demand.""The Cypriots set an example to follow," left-leaning Eleftherotypia said in its leading editorial. "How can the Cypriots say 'no' and we can't even reject a single property tax?", ran a headline on Greek television channel Antenna... 3 comments

Signs of climb down on corporate tax rate

By George Psyllides 12/03/13
 THE GOVERNMENT appears prepared to agree to a small increase in Cyprus’ corporate tax rate to stave off IMF pressure for investors to take losses on bank deposits as part of a bailout, a source close to the talks with international lenders said yesterday.A source with direct knowledge of the government’s consultations with the lenders told Reuters that a "small" corporate tax increase could be considered by Cyprus, along with a temporary levy on capital gains."It looks like consultations are starting to yield results, and the proper compromises are being found," the source said... 12 comments

Greece and Cyprus will turn crisis into opportunity

By George Psyllides 12/03/13
CYPRUS will rise again, President Nicos Anastasiades said yesterday, stressing his determination to take all necessary measures to beat the island’s economic woes that brought it to the brink of bankruptcy.“We have been through tougher times and we managed to rise again,” Anastasiades said following talks with Greek Prime Minister Antonis Samaras in Athens. Referring to the Turkish invasion in 1974, Anastasiades said “the biggest catastrophe was transformed into an economic miracle because we have stubbornness and determination.”Anastasiades said the two sides had a productive and fruitful discussion, which confirmed “our willingness for closer cooperation”, to the benefit of both countries... 12 comments

Greece and Cyprus stand together on foreign policy and economy

By Peter Stevenson 07/03/13
FOREIGN Minister Ioannis Kasoulides met his Greek counterpart Demetris Avramopoulos yesterday in Athens, with the Cyprus problem, the economy and Cyprus’ application for membership to NATO’s Partnership for Peace (PfP) the main talking points. Kasoulides was also in the Greek capital yesterday to prepare the ground for President Nicos Anastasiades’ visit on Monday.Avramopoulos thanked Kasoulides for his first trip to Athens since being named foreign minister, labelling the visit a symbolic gesture. The Greek minister stressed that the Cyprus problem is the foundation of Greek foreign policy and that Greece fully supports Cyprus’ application for membership to the PfP. ... 11 comments
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