Cyprus Mail

The running of companies should be left to the private citizen

Image by Tumisu from Pixabay

The one priority of governments is to govern and nothing else. The running of companies should be left to the private citizen. Encourage tax breaks and other incentives by all means but that’s all. But no. Like the Soviet command economy model, the Cypriot government not only has a bloated public sector unlike any other but also monopolistic utility companies such as EAC and CyTA under its belt. It’s already had its fingers burnt with Cyprus Airways and Co-op Bank, the latter entity which many called the human face of banking. I ask you.

And the Co-op Bank didn’t merely ‘burn’ but positively fried billions of euros akin to a metaphorical H-Bomb detonation. And who picked up the bill? the taxpayer. Naturally. And in turn the losses will be added to the National Debt which will never be repaid. And the government now wants to project another ‘human face’ and tip another €20 million down the drain.

Let’s be frank, here. Since Independence in 1960, with one or two exceptions, the individuals charged to steer the ship of state have been a bunch of incompetent individuals, most of whom should have remained in the law courts to practise their semantics. Instead, we’re saddled with them in the various seats of government. And it doesn’t look as if anything is going to change anytime soon. Official state bankruptcy beckons – and the sooner the better to allow the Old Guard to be swept away and a new generation to take their place. Inshallah!


Our View: State funding for start-ups a risky business

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