. Marcuard's Market update by GaveKal Dragonomics Greece has reopened its banks, paid its dues to the European Central Bank and cleared its arrears with the International Monetary Fund. After five years of pan-European economic depression and the near-death experience in Greece this month, can we finally say that the euro crisis is over? The
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A Bloomberg survey of seven economists has indicated an improved GDP growth rate of 0.7% for the whole of the year, up from a contraction of 0.4% indicated in the previous forecast. For 2016, the survey sees a batter than expected 1.5% growth rate, compared to 1.1% in the previous survey, while GDP in 2017
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* Mogherini, Netanyahu, UAE ForMin to visit Cyprus * Cyprus Foreign Minister Ioannis Kasoulides has welcomed the agreement reached on Iran’s nuclear programme and noted the EU’s contribution towards the achievement of the agreement. During the EU Foreign Affairs Council (FAC), chaired by High Representative for Foreign and Security Policy, Federica Mogherini, Kasoulides said the agreement
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The defence budget of Cyprus was reduced by almost 8% between 2010 and 2015, according to the annual report of the Cyprus Centre for Strategic Studies. The report notes that for every Greek Cypriot National Guardsman there are 3.4 Turkish soldiers and adds that while the military situation in Cyprus remains basically unchanged since 2002,
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* Frappé €2 at Protaras, down from €4-5 last year * Prices have gone down at several coastal food and beverage establishments, the Cyprus Tourism Organisation said, adding that there has also been a sharp drop in cases where local businesses charged more than what their price list showed. CTO Quality Assurance Department Deputy Director
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The Chairman of the Cyprus Energy Regulatory Authority (CERA) George Shammas has resigned and already informed the President last month. His term in office was supposed to expire at the end of January 2016. Shammas told reporters that his resignation has been already accepted by President Anastasiades and he asked to remain in office until
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In its July 16 issue, the Immobilien Zeitung reported about the persistently high demand on the office markets of the leading German cities. Berlin’s office market, for instance, ended the first semester of 2015 with a record turnover of 337,000 sqm, an increase by well over 20%, as the paper reported on the basis of
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Out of every crisis there is opportunity and the phrase could not be more true in the case of Greece, where despite the economic situation, quality projects are still in great demand, mainly by foreign investors. “Many people want to be by the seaside especially in the Greek islands of Crete, Paros and Santorini,” said
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. By Oren Laurent President, Banc De Binary The Greek debt crisis may appear to have come to resolution on paper, but the reality is that nothing is further from the truth. The terms and conditions imposed upon Greece by Europe are near impossible to satisfy and a deeper, broader crisis is bound to ensue
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. Dr. Jim Leontiades Cyprus International Institute of Management “Terrorists”, “blackmail”, “lack of trust” are just some of the terms voiced during the recent negotiations between Greece and its Eurogroup partners. There were even suggestions that Greece should leave the common currency altogether. Such ill will is a far cry from the spirit which characterised
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