. Perhaps trade union officials have not yet realised that Cyprus now has its back to the wall and there is no way forward apart from severe austerity measures. Going on strike
. ANALYSIS The grand plan outlined by France and Germany on Monday for European treaty change breaks no new ground in terms of ideas — all the proposals already exist in various
The euro faces a decisive week as European Union leaders, urged on anxiously by the United States, seek agreement on a convincing rescue plan that has eluded them for two years. Despite
Asian shares and the euro gained on Wednesday on hopes that the threat of mass credit rating downgrades will pressure European leaders to come up with a convincing framework for resolving the
U.S. Treasury Secretary Timothy Geithner meets French President Nicolas Sarkozy in Paris on Wednesday to press for decisive steps towards resolving Europe's deepening debt crisis as the region's leaders prepare for a
Greece's coalition government on Wednesday passed an austerity 2012 budget aimed at shrinking its debt mountain with tax hikes and spending cuts, hours after protesters clashed with police outside parliament. Three major
Cyprus Finance Ministry has stressed the need for immediate adoption of financial consolidation measures in order to ease the consequences from a potential credit rating lowering by Standard & Poor’s due to
Cyprus Archbishop Chrysostomos II and Chief Rabbi of Israel, Rabbi Yona Metzger, have affirmed their commitment to advancing the excellent relations between Cyprus and Israel and pledged to work together to promote
The Cyprus Shipping Chamber participated, as part of the Cypriot delegation, in the recent meeting of the European Community Shipowners’ Association (ECSA), in Brussels, discussing issues of concern to the European Shipping
Tighter oversight of euro zone fiscal policy can be achieved through minor, rapid adjustments to the EU treaty, European Council President Herman Van Rompuy told EU leaders in an interim report to
