Saturday December 20, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus jobless increase faster than anticipated, commission says

Cyprus’s unemployment increased at a faster pace than anticipated under its bailout program and constitutes a serious challenge for the future, the European Commission said in a report on Wednesday.

The jobless rate will increase to 19.5 percent in 2014 from 17 percent this year, the European Union’s Brussels-based executive arm said in its assessment of Cyprus’s compliance with the terms of its aid plan. That compares with an April forecast for unemployment to rise to 16.9 percent next year from 15.5 percent in 2013.

Cyprus, the third-smallest economy in the 17-nation euro area, got approval for a 1.5 billion-euro payout by euro-region finance ministers on Sept. 13. It was the second disbursement under a 10 billion-euro rescue program following the country’s financial meltdown mainly as a result of banking losses on Greek government bonds.

Cyprus’s President Nicos Anastasiades said in an interview in Nicosia on Tuesday that his government’s goal is to “tackle the serious problem of unemployment” and create conditions for growth.

The commission said in its report on Wednesday that Cyprus’s economic adjustment program remains on track, while there are substantial risks as the country’s economic outlook remains uncertain. Gross domestic product is forecast to contract 8.7 percent this year and 3.9 percent in 2014, before growth returns in 2015.

[Bloomberg]

ekathimerini.com , Wednesday September 18, 2013 (16:07)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Environment Ministry to reconsider controversial bill
The government over the weekend appeared to backpedal on proposed amendments widely seen as compromising legislation protecting Greek forests as well as Plaka, Athens’s old quarter. The bill...
Corfu to host country’s first hydroplane strip
Merchant Marine Minister Miltiades Varvitsiotis and Deputy Infrastructure and Transport Minister Michalis Papadopoulos have signed a decision paving the way for the country’s first hydroplan...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
The big picture
In his second term, US President Barack Obama is taking steps to enshrine his legacy and solidify America’s standing in the 21st century. His recent decision to normalize relations between t...
EDITORIAL
Get your facts straight
The danger that political discourse in Greece will sink to the basest levels of vulgarity is already more than apparent from the allegations we have heard bandied about over recent days. The...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Environment Ministry to reconsider controversial bill
2. Corfu to host country’s first hydroplane strip
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Police gets new communications system
5. Most Greeks say they recycle daily
6. Probe into revenues of 2 mln euros in Halkidiki municipality
more news
Today
This Week
1. The big picture
2. Get your facts straight
3. Probe into revenues of 2 mln euros in Halkidiki municipality
4. Corinth-Patra highway traffic to be diverted
5. Changes on E9 property declarations possible until end-year
6. Search under way for ‘mastermind’ of bank-scamming gang
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.