Commentary on economics, politics, global markets, and tech in Cyprus & Europe. Sharing insights & analysis on current events. #Cyprus#Europe#Economics#Tech
Incredible turnarounds in small South European economies with govt primary surpluses (before interest payments) now often higher than in late 2010s.
Notable that 🇩🇪 now has a larger primary deficit than 🇮🇹🇪🇸. But the level and trajectory is the worst in 🇫🇷, urgent action needed.
Κοντεύουν οι πρώτες 100 μέρες της προεδρίας και χωρίς να θέλω να παίρνω πλευρές, νιώθω ότι ο Πρόεδρος μας ακόμα κάνει προεκλογική καμπάνια.
Είμαι μονό εγώ που βλέπω μια οικονομική κρίση γεμάτο γεωπολιτικές προκλήσεις ?? Που είναι τα πλάνα και οι θέσεις που έχει πάρει η κυβέρνηση
«Η Αροδαφνούσα, ιστορία και μύθος»
Εκδήλωση με την ευκαιρία της εγγραφής του δημοτικού τραγουδιού στον Εθνικό Κατάλογο Άυλης Πολιτιστικής Κληρονομιάς 🇨🇾 2022, της Κυπριακής Εθνικής Επιτροπής @UNESCO παρουσία του ΠτΔ @Christodulides στη Χούλου.
The low & mid income groups are the ones hit the most during these tough financial times. Especially people with outstanding loans at the currently very high interest rates. With a very high probability of the BoE raising these rates even further to manage elevated infl. levels
Things are really on edge in the UK. Inflation still more than 10%, at 10.1% while in the EU and US we have seen inflation at 5-6%.
These are the results of Brexit, Ukraine-Russia escalation and stimulus all combined together.
https://t.co/HGSxbijuLS
Interesting. Increase of monthly earnings is generally healthy in an economy but given the inflationary environment, its difficult to say. #Cyprus
Wondering if this huge increase in monthly earnings will add to inflation.
Thoughts?
Average gross monthly earnings of employees in Q4 2022 amounted to €2.546, recording a 5,9% increase compared to Q4 2021. Seasonally adjusted earnings, compared to the Q3 2022 increased by 1,8%.
https://t.co/yoYMiBeFbM
Detailed quantity and value data on imports and exports of domestically produced goods and foreign goods in the monthly electronic publication “Intra & Extra EU Trade Statistics (by commodity and country)”.
https://t.co/9mgobydh3o
@EP_President@Christodulides@Europarl_EN@RobertaMetsola@Europarl_CY You are absolutely right @EP_President ! The EU needs to take drastic steps and actions to aid and support the unification of Cyprus once and for all!
It has been long and it has been painful. It’s time to fight for the founding values of the EU and unite Cyprus.
Tourism in Cyprus is doing great! 📈
In February 2023, 65.6% more tourists came compared to last year, and in Jan-Feb 2023, there was an 80.9% increase. This is really important for Cyprus' economy, and I expect more tourists to come in the summer. #VisitCyprus
Source: CYStat
UBS will now pay more than SFr0.50 a share in its own stock, far below Suisse’s closing price of SFr1.86 on Friday!
Big damage for Credit Suisse shareholders, but certainly better than the bank going bust!
BREAKING NEWS 🚨🚨
UBS has agreed to buy Credit Suisse to more than $2bn.
Swiss authorities are now poised to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday.
Source: FT
In my opinion, this move is rather a rushed one. It’s crucial to conduct proper risk/stress scenario analysis to prevent another crisis in EU banks, and that’s what the ECB should have done first, before this move. Let's learn from past mistakes. #ECB#interestrate#bankingcrisis
🚨📈 JUST IN: ECB raises interest rates by 0.5% despite financial turmoil caused by US bank failures and Credit Suisse concerns. It remains to be seen whether this aggressive move is the right one. #ECB#interestrates#inflation#stressanalysis#SVB#US