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Are We Living Beyond Our Suggests?

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The condition of the economic climate has an effect on the condition of the residence industry, both of those directly (gross sales costs) and indirectly (tough financial loans). Devoid of staying automatically industry experts on the economy, we have an understanding of that the way out of the prevailing scenario is to motivate advancement and business enterprise expansion, to include confidence to people daring traders, especially individuals involved in big initiatives and cut down bureaucracy. We will also insert that we require some sort of “economic climate patriotism” by all of us, so the unique “sacrifice” massive or compact can benefit the complete region.

As we have mentioned intense steps do not rally the patriotic feeling that we have to have (see Greece with the bombing reactions etcetera and additional lately in France with the pension proposals).

Our Governing administration, we simply cannot say, it gets top rated marks in its economic system administration. This Federal government has inherited from the preceding Government €½ bil. extra and about the 2 decades of its governance, it has managed to expend it all and borrow a different €1½ bil. Financial reviews which include that of the E.U. and the Governor of the Central Financial institution encourages this Govt to slice down paying with the main thing to consider the wage monthly bill of the civil service. But, while the civil company accepts a reduction of salaries for all incoming wages for new incoming team, this Authorities does not concur with (civil servants get roughly 1.75 time more than equal jobs in the personal practice) and all this, notwithstanding the actuality that the opposing parties agree with the reduction!! Governmental shelling out contains also assignments that are not important these which will aid the Cyprus economic climate above the speedy foreseeable future. The Lifestyle Heart (which will cost all over €100 mil.) is an example, as is the new Pafos-Polis highway (notwithstanding the point that we are all for it, it could be postponed by 1-1½ a long time), the Akamas nationwide park (estimated charge about €250 mil.) and various lesser but numerous “voting chasers assignments” which sum to €15-€20 mil.

As if all these were being not plenty of, we have a situation with the Qatar expense, which could volume to in excess of €150 mil. upfront cash, in addition the remaining fringe rewards from this 55.000 sq.mts. growth (such as the institution of a organization hub for the gulf states and emirates). Our expertise so considerably is that opposing politicians will do just about all the things to terminate the venture regardless, a variety of professionals emanating purely from very own advertising/jealousy etcetera have adopted a small-mindness method and no a single is contemplating what the affects will be if the Qatar fund pulls out and the “message” that this will be handed on to worldwide investors (we have invited as Federal government the Qatar fund to devote and then we claimed no!!).

The quite terrible handling of Eurocypria airline, which is shutting down at a expense of €50 mil. (the problems to Cyprus tourism aside), is an addition of the whole extremely bad situation.

A further aspect, not straight connected to the economic system, but similar to serious estate sales abroad, is the level of safety. The degree of particular person security’s sensation is slipping, but nevertheless it has retained its European 3rd most effective secured place, due to the fact the other nations around the world are also possessing a deteriorating situation. Purse thefts are rising, structured crime (relating to prostitution and gambling) is raising and problematic/violent behavior (see football matches) is the common scenario. Yet the Main of Law enforcement complain that 25% of the newcomers police officers are females and that % is increasing fast and his suggestion to have a women’s quota has been turned down (a massive oversight), so in a couple of a long time who is going to cope with the night policing, the drags raids and football hooligans?

These are some of the details that hassle us and we preferred to share our views with you. The economy and its prospects rely on lots of aspects, local and worldwide, but may well be at the stop of the day, we, as Cypriots, sit back and relax like nothing is occurring, driving a car down hill with escalating speed? Ought to the financial state not be previously mentioned political ambitions and really should we not talk to politicians to project by themselves for the advantage of the financial system of the region?