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All reports tagged with: "cypriot economy"

Property for passports?

Speaking to Euronews Cypriot lawyer Dimitris Dimitriades defends the controversial Cyprus Citizenship Scheme, which has brought more than €4 billion into the Cypriot economy.

Cyprus to remain in recession until 2017

Against a backdrop of shattered consumer and investor confidence, soaring unemployment, and a credit crunch, the Cypriot economy will remain in recession until 2017.

EU funds to help restart the economy

Speaking at a finance ministry event yesterday, Harris Georgiades announced that the European union will provide €847 million from its structural funds to help restart the island’s ailing economy.

Price falls loom in wake of bailout

In the wake of the island’s financial bailout, property prices in Cyprus are anticipated to fall according to the chairman of the Property Valuers Association which has temporarily suspended work.

Two notch downgrade from Fitch

Credit ratings agency Fitch has cut the island’s credit rating by two notches with the possibility of a further downgrade citing a fiscal budget that has significantly underperformed expectations.

Island under the Troika microscope

The Island will be put under the microscope by members of the Troika delegation who arrived in Cyprus yesterday for a fact-finding mission that is expected to play a crucial role in Cyprus’ EU bailout application.

Greece exit from Eurozone would hit Cyprus hard

Experts agree that Greece leaving the Eurozone would hit Cyprus hard; the Island will be plunged into a deeper recession, the entire population will have to make sacrifices and we will end up in an EU bailout.

Storm clouds darkening over Cyprus

An economist report has highlighted a number of significant problems in the Cyprus property market and warns that prices have still to fall from their already depressed levels before they bottom out.

Cypriot economy still in recession

Although the Cyprus economy is still in recession it may have started to climb out in the fourth quarter of 2009 according to the latest flash estimates from the Cyprus Statistical Service (CYSTAT).

Property taxes to raise 80 – 100 million Euros next year

Charilaos Stavrakis, the Cyprus Finance Minister has presented a package of measures which include raising 80 to 100 million Euros from taxes on property next year as part of the Government’s overall plans to get the Cyprus economy back on track.

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