Cyprus president asks people to accept need for sacrifices
In his last New Year’s message as president of the Republic of Cyprus, outgoing Dimitris Christofias told the public that they will have to make sacrifices in order to avoid the worst, while expressing confidence that the Cypriot economy can be saved by creating the conditions that will set it back on a path to growth in a short period of time.
Christofias said the consequences of the global economic crisis and particularly the exposure of Cypriot banks to Greek state bonds and the Greek economy in general have created a serious fiscal gap that has forced the government in Nicosia to resort to the European Stability Mechanism.
He reiterated that the government has managed to safeguard a number of privileges for its citizens in the context of the tough negotiations with its prospective creditors, and went on to place most of the blame for the crisis in the local credit system on the Central Bank of Cyprus and its former governor.
European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes.
European officials say tax fraud co...
IMF chief Christine Lagarde will be questioned by a French magistrate on Thursday over her role in a 285-million-euro (242 million pounds) arbitration payment made to a supporter of former p...
Germany's Bjoern Otto recorded the world's leading performance in the men's pole vault at the Athens Street Pole Vault event that took place at Zappio, in central Athens, on Saturday afterno...
PAS Giannina upset PAOK at Thessaloniki on Sunday to take the lead at the Super League play-offs, while Asteras Tripolis rebounded from its loss at Ioannina in midweek to defeat Atromitos at...
One of the biggest problems dragging the Greek economy down is the pressure placed on entrepreneurs aspiring to do business in sectors dominated by the “pirates” and “pimps” of the business ...
Greek taxpayers have had to pay dozens of millions of euros for the restoration and conservation of the capital’s landmark buildings, including Athens Polytechnic and the so-called neoclassi...
