Heavy price to ‘making America great’
By Loukis Skaliotis
Some time ago, I wrote in the Sunday Mail that US President Donald Trump’s policies instead of making America great again, would rather usher in the ...
Which way will Brics go in changing world order?
Indonesia’s recent accession to the Brics coalition highlights the ongoing and ambitious efforts of its member countries to create a rival to the G7, the alliance of the world’...
Financial crisis showed why banks must be well regulated
Banks play a key role and are inextricably linked to the outlook of the economy, mainly through supporting growth by providing financing to businesses and individuals.
However, as demonstrated during ...
UK’s Starmer asks regulators to prioritise economic growth, Sky reports
British Prime Minister Keir Starmer has asked the country’s regulators, including the financial and competition watchdogs, to remove barriers to growth in an effort to revive a sluggish economy, ...
What does Cyprus’ Moody’s upgrade mean?
Cyprus’ credit rating was recently upgraded from Baa2 to A3 by Moody’s. The double upgrade reflects, firstly, the improvement in the country’s fiscal indicators. Public debt has fallen ...
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S&P upgrades Cyprus to A-, reports stable outlook
President Nikos Christodoulides on Saturday hailed Cyprus’ upgrade to an ‘A-’ long-term credit rating by Standard & Poor’s Global Ratings, marking a significant milestone for the country’s economy.
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President announces digital citizen app and country’s rebranding
The final version of a digital citizen app is set to be presented on Wednesday in the framework of the second Cyprus-Greece summit, President Nikos Christodoulides said on Monday.
He ...
Cyprus government and banks selfishly hoard wealth
In the immediate years after the Cyprus financial crisis of 2012/2013 there was a compelling need to stabilise government finances with austerity and banks with credit restraint, however, such policies have ...
Israel-Hezbollah conflict cost Lebanon $8.5 billion, World Bank says
The World Bank said on Thursday the ongoing conflict between Israel and Hezbollah has caused $8.5 billion in damage and losses to Lebanon, with final figures expected to be significantly higher ...
‘2025 will be much more difficult’ for Turkish Cypriots, ‘economy minister’ says
The year 2025 will be “much more difficult” economically than previous years for Turkish Cypriots, the north’s ‘economy minister’ Olgun Amcaoglu said on Thursday.
Speaking to the north’s public ...
Cyprus’ institutions are in desperate need of modernisation
By Loukis Skaliotis
In a previous article I commented on the need for the world community to restructure the UN if it is to play a more effective role in ...
Is Germany the sick man of the EU?
In a previous article, we referred to the economic challenges faced by the EU. Some analysts and reputable media express the view that Germany is currently the “sick man of ...
Self-serving Cyprus budgets yet again
The Cyprus government’s budgets for 2025 to 2027 presented to the House of Representatives in October 2024 constitute business as usual with just a mechanical updating of the government finance estimates for 2024.
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Our View: Government’s economic policy driven by public pressure, not prudence
The way the government is carrying out economic policy should worry everyone. Although it claims that fiscal discipline and prudent spending are its priorities its erratic decisions do not really ...
Management of Cyprus economy impoverishing many households
In managing the Cyprus economy, decision-makers focus on real GDP growth and whether the government is generating surpluses. Indeed, government officials backed by the European Commission, the IMF and numerous ...
The EU’s latest proposal to save its economy aims to avoid a ‘slow agony’ – but it lacks bold ideas
In Brussels, the talk of the town is a report on the future of European competitiveness, calling for fundamental economic reforms to avoid a “slow agony” for the European economy. ...
A brief history of economic theory
Economic theory has its roots in antiquity. As early as the 18th century BC, the Babylonian King Hammurabi’s Code includes references to property rights, contracts, credit and economic justice.
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Our View: Government risks fiscal stability amid public payroll surge
The Cyprus economy recorded a rate of growth of 3.7 per cent in the second quarter of this year in comparison to the corresponding period of 2023, according to Eurostat. It was ...
Expanded role of central banks necessitates reforms
By Andreas Charalambous and Omiros Pissarides
Over the last 15 years, particularly after the financial crisis of 2008, the role of central banks (CBs) in developed economies has expanded and become even ...
A bank windfall tax is not the answer in Cyprus
By Erol Riza
Last week the two major opposition parties locked swords with Akel calling for a windfall tax on the “unexpected” earnings of the banks while Disy accused Akel ...
Wealth concentration leads to wealth extraction
The depletion of equity through a dysfunctional banking system leads to a separation of ownership from entrepreneurship and by the relentless pursuit of the wealthy of a return without the ...
EU Recovery and Resilience Plans – an initial implementation assessment
By Andreas Charalambous and Omiros Pissarides
The EU has evolved relatively slowly and gradually over time, from a trade agreement between a small number of states in the 1950s, to ...
Immigration and economy: biggest concerns for Cypriots
Immigration and the economy are the biggest worries for around 40 per cent of Cypriots going into the EU elections while climate action, gender equality and diversity, and digitisation of the ...
Christodoulides outlines Cyprus economic strategy in London
President Nikos Christodoulides on Tuesday presented what he called the “three pillars of the government’s economic strategy to attract investments” during a closed meeting with investors, fund managers and ...