Press: The future of Cyprus economy and the peace plan
21/11/2002 9:07
Major issue of today’s financial press is the development of Cyprus economy after the possible solution of the partition problem based on the UN peace plan submitted by the Secretary-General, Kofi Annan.
The “Economic” inset of newspaper “Alithia” under the title “The regaining of resources and the international funds’ assistance to boost Cyprus economy after solution” deals with the international funds’ assistance for the counterbalance of the two communities. The newspaper mentions that the Minister of Finance, Takis Klerides, appeared to be particularly optimistic with reference to the development of Cyprus economy after the imminent solution. According to the report, Mr. Klerides’ optimism stems from the return of territories and the regaining of economic resources, as well as the economic assistance of the international funds to equalize the quality of life between the Greek and the Turkish Cypriots.
The Minister said that the provisions of the Annan plan concerning compensations appear to be “vague”.
Elsewhere, the newspaper quotes that according to “Standard and Poor’s” report, Cyprus per capita has reached $15 thousand.
The “Economy” inset of newspaper “Simerini” under the title “They study Annan plan” highlights that the Minister’s study over the consequences of Cyprus economy is to be an answer to a number of questions that have been raised so far. The report will also refer to the dangers that the economy will face before the EU accession and the new state regime and whether this is affected.
Elsewhere, the newspaper mentions that according to latest statistical data, tourism prospects seem to be auspicious.
The “Economy” inset of newspaper “Phileleftheros” under the title “Plastic money tendencies” points out that credit cards have become increasingly popular as a means of payments for purchases within Cyprus and abroad. Despite the fact that households have considerably reduced loan borrowing – according to CB’s latest data – the use of credit cards has surged. Specifically, within the first eight months of 2002 the value of transactions climbed 61.7% to CYP 9.7 million, against CYP 6.0 million within the correspondent period of 2001.
Elsewhere the inset refers to CSE’s instability and uncertainty.
The “Economic” inset of newspaper “Alithia” under the title “The regaining of resources and the international funds’ assistance to boost Cyprus economy after solution” deals with the international funds’ assistance for the counterbalance of the two communities. The newspaper mentions that the Minister of Finance, Takis Klerides, appeared to be particularly optimistic with reference to the development of Cyprus economy after the imminent solution. According to the report, Mr. Klerides’ optimism stems from the return of territories and the regaining of economic resources, as well as the economic assistance of the international funds to equalize the quality of life between the Greek and the Turkish Cypriots.
The Minister said that the provisions of the Annan plan concerning compensations appear to be “vague”.
Elsewhere, the newspaper quotes that according to “Standard and Poor’s” report, Cyprus per capita has reached $15 thousand.
The “Economy” inset of newspaper “Simerini” under the title “They study Annan plan” highlights that the Minister’s study over the consequences of Cyprus economy is to be an answer to a number of questions that have been raised so far. The report will also refer to the dangers that the economy will face before the EU accession and the new state regime and whether this is affected.
Elsewhere, the newspaper mentions that according to latest statistical data, tourism prospects seem to be auspicious.
The “Economy” inset of newspaper “Phileleftheros” under the title “Plastic money tendencies” points out that credit cards have become increasingly popular as a means of payments for purchases within Cyprus and abroad. Despite the fact that households have considerably reduced loan borrowing – according to CB’s latest data – the use of credit cards has surged. Specifically, within the first eight months of 2002 the value of transactions climbed 61.7% to CYP 9.7 million, against CYP 6.0 million within the correspondent period of 2001.
Elsewhere the inset refers to CSE’s instability and uncertainty.
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1275.09
