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Press: War plunges stock markets…

02/04/2003 09:06
The major issues in today’s financial press are the performance of the European and Asian stock markets and Wall Street due to the war in Iraq and the appeal on behalf of the employers to the Cyprus government to ask compensations due to the negative impacts from the US attack in Iraq.

The “Economy” inset of newspaper “Phileleftheros” under the title “Uncertainty returns” highlights that the small gains reported by the European stock markets on Tuesday were not enough to cover the losses of the previous day that has been referred to as “black Monday”. As a result, the performance of the European stock markets (London, Paris and Frankfurt), the Asian stock markets and Wall Street is now worse than it was at the launch of the Iraqi war.

Elsewhere the newspaper reports that the government examines the supportive measures applied to similar cases by foreign governments.

The “Economy” inset of newspaper “Simerini” under the title “Save hotel industry” refers to the appeal of the employers to the government, so that it asks for compensations due to the negative impacts of the war in Iraq. Employers believe that the government should take long-term measures, similar to those proposed by the Employers and Industrialists Federation to the Labour Minister (payment of employers’ contribution by the government, full payment of unemployment allowance, etc).

Elsewhere “Simerini” mentions that AKEL and DIKO will reexamine EAC’s investment to the Greek telecommunications company Infoquest.

The newspaper “Alithia” does not contain a financial inset.