The Cyprus bail-out: Unfair, short-sighted and self-defeating | The Economist 3/26/13 11:29 PM Unfair, short-sighted and self-defeating IT IS not a fudge, but it is still a failure. The euro zone’s bail-out of Cyprus, which was sealed in the early hours of Saturday, did get the bill for creditor countries down from €17 billion to €10 billion, as had been rumoured. But the way it did so was somewhat unexpected. Almost €6 billion of the savings for taxpayers in euro-zone countries came from losses
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THE ECONOMIC CRISIS AND ITS IMPACT ON EUROPEAN AND CYPRUS DEFENSE By Dr Aristos Aristotelous The relentless question of prioritizing and allocating scarce national resources to unlimited uses and requirements becomes even harder in times of economic crisis. In Cyprus - as in other EU countries - the tragic state of the economy and the need to exit from the crisis, brings unbearable pressure on military spending and is impacting on priorities in the defense field. Europe Under the burden of
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The Eurozone crisis (often referred to as the Euro crisis) is an ongoing crisis that has been affecting the countries of the Eurozone since late 2009. It is a combined sovereign debt crisis, a banking crisis and a growth and competitiveness crisis.[8] The crisis made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties. Moreover, banks in the Eurozone are undercapitalized and have faced liquidity problems
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The European Debt Crisis In 2009, Greece came forward and announced that their financial management of their economy had gone awry. Greece's revealed their budget to be 12.7 percent of gross domestic product (GDP), in addition, its debt-to-GDP ratio at 120% was twice the limit allowed in the Maastricht treaty. This triggered what is now known as the European Debt Crisis, and led to similar announcements by Portugal, Italy, Ireland, Spain and most recently Cyprus. In the next pages we will attempt
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FOREIGN DIRECT INVESTMENT AND GROWTH IN CYPRUS: A CAUSAL RELATIONSHIP N0373193 This research project is submitted in part-fulfilment of the degree of Bachelor of Arts (Honours) Economics, Finance and Banking Nottingham Business School Nottingham Trent University Summer 2014 Chosen Target Peer-Refereed Academic Journal: Journal of Internet Banking and Commerce, December 2011, vol. 16, no. 3 (http://www.arraydev.com/commerce/jibc/) Declaration: I declare that I have personally prepared this article and
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The European Union: Questions and Answers Kristin Archick Specialist in European Affairs March 4, 2013 Congressional Research Service 7-5700 www.crs.gov RS21372 CRS Report for Congress Prepared for Members and Committees of Congress The European Union: Questions and Answers Summary The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among sovereign countries. The Union is the latest stage in a process of integration begun after
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In recent years especially with the financial crisis, a number of countries have found themselves needing a bail out of some sort. From the PIGS of Europe to South Asia and Africa. What all these countries have/had in common was the need for funds to facilitate a bailout of their faltering economies especially the banking sector. Like the countries that need a bail LDC always need money to finance their debt and pay off any interest especially in time of uncertainty. The purpose of this paper is
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Problem deals with the on-going financial crisis in Cyprus. Park (2006, p.p.8-9) provides a sound “Statement of the Problem” which constitutes a major component for the development of the “Problem Definition” in the proposed Research. The specific problem development enables the development of the proposed Research. Hence, the following Research Problem is outlined/proposed: “The majority of Cyprus Businesses of all sizes are suffering due to the on-going financial crisis, especially since the (in)famous
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they must have special financial policies. But they don't. They have the ECB setting a separate policy for all 17 of them. That's a certain problem for Europe now, and the ECB isn't helping them out. The role of the European central bank is to stabilize the system, not necessarily to guarantee good outcomes for every citizen within it. To the extent that the economies of the U.S. and Germany remain stable, we should expect the structural integrity of the global financial system to stay intact.
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------------------------------------------------- Accession of Turkey to the European Union | Turkey's application to accede to the European Economic Community, a predecessor of the European Union (EU), was made on 14 April 1987. Turkey has been an associate member since 1963.[2] After the ten founding members, Turkey was one of the first countries to become a member of the Council of Europe in 1949, and was also a founding member of the Organisation for Economic Co-operation and Development (OECD)
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