Wednesday October 1, 2014 Search
Weather | Athens
28o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus on the road to ‘new economic miracle’

Cyprus is on the road to a “new economic miracle” following a near meltdown last year that was prevented by a 10-billion-euro international bailout, President Nicos Anastasiades said on Wednesday.

“It seems that Cyprus is on the road to a new economic miracle, and this has not escaped the attention and appreciation of international creditors or the international press,” the president said during an exports award ceremony.

Even a harshly critical German financial press has changed its tune over Cyprus, he said, after some claimed the Mediterranean island’s banks had been laundering dirty Russian money.

“After many negative reports in recent months, the German press is now obliged to praise Cyprus’s effort to advance the necessary reforms. They report that Cyprus has now fully achieved its objectives from the beginning of the program,” said Anastasiades.

He said the latest evaluation of the economy by the troika foresees a primary deficit this year of 277 million euros, or 1.8 percent of GDP, a figure significantly lower than the 483 million euros previously forecast.

At the same time, they said the recession-hit economy contracted 5.3 percent in 2013, a lot less than the 8.7 percent projected at the time of the bailout.

The last Cypriot economic “miracle” was during the boom years of the 1980s, when the country overcame the devastating effects of the 1974 Turkish invasion.

[AFP]

ekathimerini.com , Wednesday February 19, 2014 (20:53)  
Troika, ministry close to deal on corporate debts
Greek bonds rise on speculation ECB to allow bank-loan purchases
Greek factory activity returns to contraction in September - PMI
Mario Draghi to push ECB to buy Greek, Cypriot ´junk´ loans: FT
Thessaloniki NGOs appeal for help to deal with influx of Syrian refugees
Two non-governmental organizations appealed to the public on Wednesday to donate clothing and food to help dozens of refugees from war-torn Syria who have flooded into Thessaloniki over the ...
Incoming EC President Jean-Claude Juncker to visit Athens
Incoming European Commission President Jean-Claude Juncker is expected to visit Athens on Friday, the Commission's press office confirmed on Wednesday. The former prime minister of Luxembour...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakos’s first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Truth before the battle
The coalition has lost its sense of direction in the last few months. Exactly where things went off track is not the question at this stage. What is certain is that if it continues competing...
EDITORIAL
Bending the rules
The flexibility with which laws are implemented has been a fundamental cause for concern in Greece during the post-dictatorship era. Everything becomes a subject for negotiation, even in cas...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Thessaloniki NGOs appeal for help to deal with influx of Syrian refugees
2. Troika, ministry close to deal on corporate debts
3. Incoming EC President Jean-Claude Juncker to visit Athens
4. Greek bonds rise on speculation ECB to allow bank-loan purchases
5. Seven arrested in Greece in migrant smuggling ring
6. Velvento banks robbers not terrorists, court rules
more news
Today
This Week
1. Air-raid sirens to go off all over Greece at 11 a.m. in drill
2. Truth before the battle
3. Mario Draghi to push ECB to buy Greek, Cypriot 'junk' loans: FT
4. Smallpox decimates sheep stocks in northern Greece
5. Thessaloniki transport gets more expensive
6. Bending the rules
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.