Second Greek bailout in reach despite funding gaps

2012-02-20

Eurozone finance ministers inched towards approving a second bailout for debt-laden Greece on Monday that will resolve Athens’ immediate repayment needs but seems unlikely to remedy the dire state of the nation’s shattered economy.

Agreement on a 130-billion-euro rescue package on draconian conditions would draw a line under months of uncertainty that has shaken the currency bloc, averting imminent bankrupcty, although work remained to make the numbers add up.

But diplomats and economists say it may only delay a deeper default by a few months. A turnaround could take a decade or more, a bleak prospect that brought thousands of Greeks onto the streets to protest against austerity measures on Sunday.

German presidency row shakes Merkel's coalition

2012-02-20

Angela Merkel’s centre-right coalition seemed dangerously close to rupture when her Free Democrat (FDP) partners defied the chancellor and backed an opposition candidate for the German presidency, coalition sources said on Monday.

Conservative leaders warned the FDP on Sunday there would be “serious consequences” – language party officials understood to mean the end of the coalition – if they refused to drop support for former East German rights activist Joachim Gauck, the sources told Reuters. But the FDP did not blink and it was Merkel who ended up backing down and agreeing to support Gauck, whose candidacy she had publicly opposed in 2010.

“It was indeed quite serious,” said one senior conservative source close to Merkel.

3 Bedroom Apartment for sale in Limassol

2012-02-20

3 Bedroom Apartment for sale, 2 Bathrooms, 2 Balconies, 120 sq mtrs, Own Car Parking,1st Floor, Fully Furnished & Equipped, Modern Air Conditioning, Solar Heating, Satellite TV, Sea View, Amathus/Four Seasons Area, €188.000 – negotiable, Tele 25 323513

 

 

 

Samaras: Cyprus problem a top priority for the Greek government

2012-02-20

The Cyprus problem remains a top priority for the Greek government – despite its financial woes – Greek New Democracy party leader Antonis Samaras said today.

Speaking after a meeting with President Demetris Christofias, Samaras said: “Cyprus and Greece are two independent states, however the two countries belong to the same nation.”

He underlined the need for a solution to the Cyprus problem that will be viable and just and will end the island’s Turkish occupation.

Samaras also said that during the meeting with President Christofias, they discussed the latest developments regarding hydrocarbon exploration in Cyprus’ Exclusive Economic Zone (EEZ) and that the natural wealth in both Cyprus and Greece can lead to a joint strategy in economic matters.

IAEA inspectors arrive in Tehran to resolve Iranian nuclear program dispute

2012-02-20

An International Atomic Energy Agency (IAEA) inspection team has arrived in Tehran today for the second time in a month as part of its ongoing efforts to find a diplomatic solution to a dispute over Iran’s nuclear program. 

The team, led by IAEA Chief Inspector Herman Nackaerts will hold talks with officials of the Iranian Atomic Energy Agency and responsible officials. 

Before his departure from Vienna, Nackaerts said he hoped results would be achieved during the second mission, during which inspectors will discuss the possible military dimensions of Iran’s nuclear program and other outstanding issues with the Iranian side.

APOEL slump to Anorthosis defeat

2012-02-20

ANORTHOSIS manager Ronny Levy was delighted with his side’s 2-0 victory over defending champions APOEL at the Antonis Papadopoulos Stadium in Larnaca on Sunday afternoon.

“First of all I want to wish APOEL all the best in the second leg of their Champions League match with Lyon,” he said.

“With regards to the game, we were not at our best both physically and psychologically, after losing our last two league encounters to both Aris and AEL,” said Levy.

“But the players approached the game very seriously and I was sure we would win, despite the fact that we played against one of the best teams in the country, led by an excellent manager. Our team has been depleted lately, but now we have shown that our squad is deep enough with many players who can step up.

Iranian ships reach Syria, China warns of civil war

2012-02-20

China’s main newspaper accused Western countries of stirring civil war in Syria and two Iranian warships docked at a Syrian naval base, underscoring rising international tensions over the near year-long crisis.

Despite pursuing a sustained military crackdown on the opposition in cities across the country, President Bashar al-Assad forged ahead with plans to hold a referendum at the end of the week.

Activists in the western city of Hama said troops, police and militias had set up dozens of roadblocks, isolating neighbourhoods from each other.

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.