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EURO CURRENCY TURNS 10; SEEN FULFILLING PROMISE – TEN YEARS AGO, EUROPE LAUNCHED ITS GRAND EXPERIMENT WITH A SHARED CURRENCY – AND WATCHED IT PLUNGE IN VALUE BEFORE RECOVERING

Posted by Gilmour Poincaree on December 28, 2008

Sunday, December 28, 2008 at 11:35 AM

by Matt Moore and George Frey – Associated Press Business Writers

PUBLISHED BY ‘THE SEATTLE TIMES’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE SEATTLE TIMES’ (USA)

Posted in AUSTRIA, BANKING SYSTEMS, BELGIUM, CENTRAL BANKS, COMMERCE, CURRENCIES, CYPRUS, ECONOMIC CONJUNCTURE, ECONOMY, EURO, EUROPEAN CENTRAL BANK, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FRANCE, GERMANY, GREECE, INTERNATIONAL, INTERNATIONAL RELATIONS, LUXEMBOURG, NETHERLANDS, PORTUGAL, RECESSION, SLOVAKIA, THE EUROPEAN UNION | Leave a Comment »

NEW WORLD ORDER

Posted by Gilmour Poincaree on December 17, 2008

December 06, 2008

by Andy Varoshiotis – Financial Mirror

PUBLISHED BY ‘THE FINANCIAL MIRROR’ (Cyprus)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL MIRROR’ (Cyprus)

Posted in BANKING SYSTEM - USA, CYPRUS, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

WE HAVE THE WAY – WE ONLY NEED THE WILL (Cyprus)

Posted by Gilmour Poincaree on October 31, 2008

Friday, October 31, 2008

WORLD leaders have shown impressive and unprecedented determination and co-ordination to battle the global financial crisis. Within the space of a few weeks, the purse strings have opened to release staggering amounts of money, so dizzyingly large that few of us can even begin to comprehend them.

Political and financial leaders have criss-crossed the globe to co-ordinate their response, slashing interest rates and pouring liquidity into the system to stem the loss of confidence created by this first true crisis of the globalised era.

They have shown that where there is a will (and where there is a very present threat), there is a way. It does not always work – confidence is by definition irrational – but it is not for want of trying.

How depressing then that when it comes to a far greater looming threat to our current way of life, our leaders are unable to react, paralysed by short-term vested interests and capable of little more than pious declarations of intent.

A report this week warned that humans were heading headlong into an ‘ecological credit crunch’ whose impact would dwarf that of the current financial crisis, with demands on natural resources outstripping what the Earth can sustain by almost a third. If current trends continued, leading environmental groups warned, by 2030 we would need two planets to maintain our lifestyles.

Yet not only is no government willing to unlock the hundreds of billions of dollars injected into financial systems around the world this past month, in order to cut emissions and develop new sustainable technologies, but the immediate impact of the mounting economic recession is likely to put on the back burner desperately needed investments into clean energies and the introduction of deterrent carbon taxes.

Yet the alarm bells are ringing furiously. We here in Cyprus are feeling the direct effect of global warming through rising temperatures and dramatic water shortages and yet still, neither government nor public are willing to do anything to tackle emissions. And we are not unusual: melting ice caps and increasingly unpredictable weather patterns (much of northern Europe was blanketed in snow this week… in October) are there constantly to remind everyone, yet governments have repeatedly failed to agree emission targets and have dragged their feet in spending on renewables, seeking instead ways to cushion the impact of oil prices on consumers (read: voters).

When the ecological credit crunch really bites, it will be too late to spend our way out of trouble – these are long term problems that we have delayed in addressing. We need to act now to limit the impact of trends that are already irreversible, showing the same commitment, determination and co-ordination that governments have shown in battling the financial crisis.

Copyright © Cyprus Mail 2008

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CYPRUS MAIL’

Posted in CENTRAL BANKS, CYPRUS, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENVIRONMENT, EUROPE, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, MACROECONOMY | Leave a Comment »

CYPRIOTS VIEW RENEWED EFFORTS TO REACH AN AGREEMENT WITH CAUTION

Posted by Gilmour Poincaree on October 31, 2008

Friday, October 31, 2008

by Jean Christou

ONLY 18 per cent of Greek Cypriots and 13 per cent of Turkish Cypriots are hopeful for a Cyprus solution through the current peace process, a study by the Centre for European Policy Studies said yesterday.

The Brussels-based organisation worked with analysts Alexandros Lordos, Erol Kaymak and Nathalie Tocci to compile the 90-page report, which was presented yesterday.

“Beyond their perceptions and (mis)trust of each other, both communities are pessimistic regarding the peace process,” said the report.

This pessimism is particularly acute amongst Turkish Cypriots, who following the Annan Plan precedent have little faith in the peace process and Greek Cypriot willingness to deliver a compromise solution. Greek Cypriots, emboldened by their new president, appear somewhat more hopeful of the ongoing negotiations.”

It said that after decades of failed negotiations and the ultimate failure of the Annan Plan, Cypriots viewed renewed efforts to reach an agreement with some caution.

Lack of trust was a major factor according to the findings.

Two out of three Greek Cypriots, “possibly influenced by their long-standing political narrative that ‘our problem is not with the Turkish Cypriots but with Turkey’, say they trust ordinary Turkish Cypriots, while 99 per cent do not trust the Turkish Cypriot leadership nor Turkey.

However nearly three out of four Turkish Cypriots say they mistrust Greek Cypriots, and 74 per cent say they mistrusted President Demetris Christofias and political party leaders.

Still, while differences are large Cypriots were open to compromise, ready to revisit their official historical narratives and abhor a resort to violence, the report said.

“This sets Cyprus apart from other conflicts in the European neighbourhood,” it added.

“Cypriots are not fundamentally hostile towards each other and both communities have reached a level of political maturity necessary to re-evaluate their conflict-ridden pasts.”

It said 85 per cent off Greek Cypriots and 50 per cent of Turkish Cypriots were able to acknowledge the mistakes committed by their own community in the conflict.

Nearly 90 per cent on each side are “absolutely opposed to the idea of ‘solving’ the conflict through armed struggle”.

Only 15 per cent on the Greek Cypriot side say they are satisfied with the status quo, and even fewer Turkish Cypriots, less than ten per cent.

“A possible explanation of these differences may be that whereas 51 per cent of Greek Cypriots are on the whole satisfied with their personal lives, only 29 per cent of Turkish Cypriots are, not least because they are more directly affected by the consequences of the conflict,” said the report, adding that they blamed Greek Cypriots and the EU for their current situation due to the ban on direct flights to the north, and the lack of direct trade for the ‘TRNC’.

“It is of paramount importance for these issues to be debated openly and creatively in the south and for political and official actors to diffuse and repackage the divisive and polarising language used to discuss these issues in recent years,” said the report.

On the positive side, large majorities of each community view themselves as being both Greek Cypriot and Turkish Cypriot rather than merely Greek or Turkish.

“In other words, Greek and Turkish Cypriots tend not to identify themselves as Greeks or Turks exclusively, and both communities share an affinity to Cyprus,” the report said.

It suggests a number of confidence building measures to run parallel to the new negotiating process “to engender public confidence” and to ensure that when an agreement is reached, Cypriots will go along with it.

A list of ‘easily-agreed measures’ could include jointly fighting organised crime, joint participation in international sporting events, joint protection of cultural heritage, supporting Turkish-Cypriot-EU harmonisation and renovating and making joint use of buildings in the Green Line.

Other confidence-building steps could be taken to facilitate negotiations on the more contested issues such as conducting an analysis of threats and threat perceptions and producing an economic development plan for post-settlement.

These fact-finding activities would both increase public confidence in the peace process – which will be viewed as a result of such efforts as more participatory, inclusive and grounded on the needs of the people – and at the same time may help bridge the gaps dividing the two communities on some of the most contested dossiers of the conflict settlement agenda,” said the CEPS report.

It also listed a number of more contentious proposals such as including the north in the EU customs union and including Turkish Cypriot higher education institutions in the European higher education system, direct trade and direct flights, and the resolution of the Varosha issue.

Copyright © Cyprus Mail 2008

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CYPRUS MAIL’

Posted in CYPRUS, EUROPE, GREECE, INTERNATIONAL, WARS AND ARMED CONFLICTS | Leave a Comment »