Some places are waking up to the crunch

Sir,

I draw your attention to an article in our UK national newspaper:

“Spanish hotel prices are being slashed by up to 30% to attract British holidaymakers. Hotel chains are making the cuts to counter the impact of the weak pound and the credit crunch.

Spanish tourism chiefs fear British holidaymakers will choose resorts outside the eurozone, such as Turkey, over their traditional holidays on the Costas this summer.”

What plans, if any, has Cyprus to counteract the impact of the euro/credit crunch?
Janet, UK

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.