‘Hidden agenda’ behind downgrade

2012-01-15

THE GOVERNMENT yesterday lambasted Standard and Poor’s decision to downgrade Cyprus’ credit rating by two notches, to a BB+ rating.

Following Friday’s downgrade, Cyprus’ sovereign rating is now at junk level.

Along with Cyprus, 15 other Eurozone nations were included in the downgrade, including France and Austria who lost their AAA rating.

Finance Minister Kikis Kazamias accused the rating agency of having a hidden agenda and indicated that “behind the S&P downgrade lies a monetary war between the euro and the US dollar, and Cyprus is essentially paying for this dispute.” 

“This decision can justifiably be considered arbitrary and unsubstantiated,” Kazamias told reporters yesterday morning.

Our View: Focus on development projects is right. But where’s the money?

2012-01-15

EVERYONE welcomed the news that the European Commission had given its approval to the measures taken to reign in the budget deficit and would not take any further steps in the excessive deficit procedure for Cyprus. Good news regarding the economy is very rare indeed nowadays (on Friday Standard and Poor’s downgraded our sovereign rating another two notches to junk status) and this may explain the optimism the Commission’s announcement and Olli Rehn’s comments sparked. 

Tales from the Coffeeshop: Farewell to the Denktator

2012-01-15

SO FAREWELL Rauf Denktash, former lawyer, politician, community leader, pseudo president, terrorist, ultra-nationalist fanatic, committed Greek-hater, amateur photographer, big eater, English School old boy and Paphite.   

Described as smart and witty by those who met him, he was also a ruthless, hard, arrogant and belligerent personality with dictatorial tendencies (which is why our establishment used to refer to him as the Denktator, when was in his prime) and the belief that he always knew best.

Near silence greets Denktash’s death

2012-01-15

THE DEATH of one of the key players in the long-running Cyprus problem who played a critical role in maintaining the country’s division was met with barely a sound from the Greek Cypriot press and politicians yesterday. 

Rauf Raif Denktash, 88, died late on Friday of multiple organ failure after enduring a year of deteriorating health. 

While Turkey and Turkish Cypriots in the north yesterday marked his death with words and actions befitting a ‘national hero’, the prominent and influential role played by the Paphos-born former Turkish Cypriot leader was barely visible in the Greek Cypriot community. 

Turkish Cypriots ‘have lost a hero’

2012-01-15

TRIBUTES were paid in northern Cyprus yesterday to former Turkish Cypriot leader Rauf Denktash who died on Friday night, aged 88. 

One of the first to react to the news of his death was Turkish President Abdullah Gul who said he and Turkey were “deeply saddened” and that Denktash’s death was “a loss, not only for Turkish Cypriots but for all Turks”. 

“Our people have lost a hero,” he said.

Gul’s words were echoed by his Prime Minister Recep Tayyip Erdogan who said Dentash had “devoted his life so that the Turkish Cypriots could live on their land in peace and prosperity”. 

“He has an exceptional place in the heart of the Turkish nation,” he added. 

Captain of stranded ship still on board

2012-01-15

ONE MONTH on, the large commercial ship which ran aground in Paphos during bad weather on December 8 is still stranded on the rocks, and the captain is still on board.

According to Peyia police the vessel – which was on its way to Rhodes from Limassol when it was grounded – is still stuck on the rocks, and they have no idea if or when it will be removed.

A Peyia police spokesman told the Sunday Mail: ”As far as we are aware it hasn’t yet been decided if the ship will be moved or not, the owners of the vessel are currently discussing the matter with the navy’s commercial department.”

The ship is stranded 15 metres from shore in Paphos’ Sea Caves area, and concern over the precarious position of the vessel is mounting.

Former minister investigated for paying no tax on golden handshake

2012-01-15

FORMER FINANCE Minister Charilos Stavrakis has landed in tepid water with the Inland Revenue Department (IRD) over a significant sum of money he received from the Bank of Cyprus before becoming minister in February 2008. 

Stavrakis who as minister was also the boss of the IRD, stepped down from the ministry during a cabinet reshuffle last August, and is now being called to pay taxes on undeclared income, believed to be close to two million euros. The sum in question relates to the ‘golden handshake’ or ‘efapax’ received from the Bank of Cyprus on Stavrakis’ retirement from the bank back in 2008 after he was appointed minister by the new Demetris Christofias government.  

Greek Cypriots won’t offer ‘earth and water’ at Greentree

2012-01-15

THE GREEK Cypriot negotiating team will not be going to peace talks in Greentree in New York next week to offer “earth and water”, warned President Demetris Christofias yesterday. 

Speaking at an event organised by the Association of Craftsmen, Christofias said he cannot refuse the UN Secretary-General’s invite to go to New York, “despite the fact I have sent many messages to the SG with the basic question: what is the point of our presence in Greentree if none of the conditions that he put down in our previous meeting at the same place have been met?”

The president said the situation was “difficult”, expressing certainty that the Greek Cypriot team will come under pressure during the next phase of talks. 

Dismay over Open University entrance ‘lottery’

2012-01-15

THE DECISION of the Open University to introduce a new system by which applicants for three of its courses will be chosen by lot has been met with dismay and disapproval by some of those interested in applying.

The new system will see applicants being chosen at random after they have fulfilled certain basic criteria for the university’s only undergraduate course and two post-graduate courses.

The previous system in place was based on a calculation of credits, with each application securing more weight according to the criteria it fulfilled.

The credit-based system is widely used in all public universities in Cyprus and Greece, the civil service and the National Guard.

‘A new era for state services’

2012-01-15

THE INTERIOR ministry has presented new automation systems that will be installed at the town planning and land registry departments to upgrade the services they offer the public.

Presenting the systems on Friday, Interior Minister Neoclis Sylikiotis expressed his conviction that they will “usher in a new era in the services provided by the state to the public.”

The first concerns a comprehensive information system worth over €12 million for the town planning department that will cover all its activities and services as well as those of district administrations regarding construction permits.

The system will be rolled out gradually within 36 months from the day of introduction, the minister said.

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.