03/02/2011 07:21
The major issue in today’s financial press is the statements of CB Governor, Athanasios Orphanides and Finance Minister, Charilaos Stavrakis before the Advisory Economic Committee.
The “Economy” inset of newspaper “Phileleftheros” refers to the CB Governor’s statements before the Advisory Economic Committee yesterday. According to the report, Mr. Orphanides said that the measures for the restriction of the expenditure must be adopted in the next two months and the government must take its first steps for the restructuring problems of the country such as the pension system, so as to avert or minimize further downgradings.
Elsewhere the newspaper reports that the island’s fiscal data do not seem to convince the international markets, since in a year the cost of borrowing of the Republic from the international markets increased by 1.55%.
Other headlines:
- FINMIN interventions are plastic surgeries
- CAIR: Talks on investor
- Differences of 7 cents per litre and over
- Correction in capital market – CSE general index fell to 1,230.87 points
The “Economy” inset of newspaper “Politis” refers to the meeting of the Advisory Economic Committee. According to the report, the CB Governor stressed the need for the restriction of the state expenditure and the state payroll as well as the need for structural changes. On the other hand, the Finance Minister said that it is necessary to reduce the everyday useless dispute on the economy.
“Politis” also highlights that the 9% salary cut of the CAIR employees is in effect.
Other headlines:
- Crisis in metal works industry
- Ready for compromise – 10k Greek households per annum will not pay their instalments
- CSE down 1.10%
- Marginal gains for the CSE
The “Economy” inset of newspaper “Simerini” refers to the meeting of the Advisory Economic Committee. According to the report, Mr. Stavrakis said that the external environment is still very difficult and Cyprus might face challenges in the next few months. Mr. Orphanides warned that certain steps must be taken in the next two months to avert further downgradings.
The CB Governor also explained the interpretation of the firms’ reference to the size of the banking system.
Other headlines:
- Economy will not be corrected with plastic surgeries – Averof Neophytou on the FINMIN statements
- Yes to survival – Trade unions started contacts for survival of CAIR
- Generous offsetting measures – SEK demands
- Oil sharply up due to Egypt unrest
The “Economy” inset of newspaper “Haravgi” refers to the meeting of the Advisory Economic Committee. The Finance Minister said that the measures that have already been taken are regarded as satisfactory by the European Commission so as to cover the targets of 2011, 2012 and 2013.
“Haravgi” also reports that the workers in metal works industry will go on a 48-hour strike on February 9 and 10.
Other headlines:
- Contacts for the approval of CAIR survival plan
- Labour Ministry requested release of €1.6m
- Losses of 1.08% in the CSE
- Mea Culpa – A. Paschalides asks
The “Economy” inset of newspaper “Alithia” reports that the CB Governor and the Finance Minister described the condition of the Cyprus economy differently during the meeting of the Advisory Economic Committee. According to the report, Mr. Stavrakis said that the economic indices have improved, while Mr. Orphanides noted that the fiscal problems must be solved.
Elsewhere the newspaper refers to the problems of operation of the Single Market in the European Union.
Other headlines:
- 48-hour strike of the employees in metal works industry
- Let the plastic surgeries and correct the health problems - Neophytou
- Producer prices up – euro area
The “Economy” inset of newspaper “Phileleftheros” refers to the CB Governor’s statements before the Advisory Economic Committee yesterday. According to the report, Mr. Orphanides said that the measures for the restriction of the expenditure must be adopted in the next two months and the government must take its first steps for the restructuring problems of the country such as the pension system, so as to avert or minimize further downgradings.
Elsewhere the newspaper reports that the island’s fiscal data do not seem to convince the international markets, since in a year the cost of borrowing of the Republic from the international markets increased by 1.55%.
Other headlines:
- FINMIN interventions are plastic surgeries
- CAIR: Talks on investor
- Differences of 7 cents per litre and over
- Correction in capital market – CSE general index fell to 1,230.87 points
The “Economy” inset of newspaper “Politis” refers to the meeting of the Advisory Economic Committee. According to the report, the CB Governor stressed the need for the restriction of the state expenditure and the state payroll as well as the need for structural changes. On the other hand, the Finance Minister said that it is necessary to reduce the everyday useless dispute on the economy.
“Politis” also highlights that the 9% salary cut of the CAIR employees is in effect.
Other headlines:
- Crisis in metal works industry
- Ready for compromise – 10k Greek households per annum will not pay their instalments
- CSE down 1.10%
- Marginal gains for the CSE
The “Economy” inset of newspaper “Simerini” refers to the meeting of the Advisory Economic Committee. According to the report, Mr. Stavrakis said that the external environment is still very difficult and Cyprus might face challenges in the next few months. Mr. Orphanides warned that certain steps must be taken in the next two months to avert further downgradings.
The CB Governor also explained the interpretation of the firms’ reference to the size of the banking system.
Other headlines:
- Economy will not be corrected with plastic surgeries – Averof Neophytou on the FINMIN statements
- Yes to survival – Trade unions started contacts for survival of CAIR
- Generous offsetting measures – SEK demands
- Oil sharply up due to Egypt unrest
The “Economy” inset of newspaper “Haravgi” refers to the meeting of the Advisory Economic Committee. The Finance Minister said that the measures that have already been taken are regarded as satisfactory by the European Commission so as to cover the targets of 2011, 2012 and 2013.
“Haravgi” also reports that the workers in metal works industry will go on a 48-hour strike on February 9 and 10.
Other headlines:
- Contacts for the approval of CAIR survival plan
- Labour Ministry requested release of €1.6m
- Losses of 1.08% in the CSE
- Mea Culpa – A. Paschalides asks
The “Economy” inset of newspaper “Alithia” reports that the CB Governor and the Finance Minister described the condition of the Cyprus economy differently during the meeting of the Advisory Economic Committee. According to the report, Mr. Stavrakis said that the economic indices have improved, while Mr. Orphanides noted that the fiscal problems must be solved.
Elsewhere the newspaper refers to the problems of operation of the Single Market in the European Union.
Other headlines:
- 48-hour strike of the employees in metal works industry
- Let the plastic surgeries and correct the health problems - Neophytou
- Producer prices up – euro area
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