T'was only a few months ago that this was in the news:
Stavrakis: Eurocypria will close by Friday without cash boost
http://www.cyprus-mail.com/cyprus/stavrakis-eurocypria-will-close-friday-without-cash-boost/20100209
THE FINANCE minister yesterday defended the government’s decision to inject ailing airline Eurocypria with €35 million, saying the state cannot behave like a petty crook and rip off banks.
Charilaos Stavrakis got a grilling before the House’s joint watchdog and finance committee over the state’s decision to inject the €35 million into Eurocypria when a study said the airline was not viable.
And the study had not been presented to parliament before legislators voted to approve the funds by increasing the company’s share capital.
Stavrakis said the study had nothing to do with the increase in share capital and that letting the company default on its debts would have cost €55 or €85 million – a much greater cost.
The money was used to repay a €28 million loan and the rest was spent on operational expenses.
“Clearly, this study, despite it not being sacred, supports the correctness of the decision taken by the majority in parliament,” the minister said.
He added: “Either we should have let the company bankrupt and shaft the banks and all other creditors, like some petty crooks behave, or we should have rescued Eurocypria, rescuing Cyprus tourism and the credibility of the Cypriot economy.”
Finance committee chairman Nicolas Papadopoulos said Cyprus now faced the danger of the European Commission asking for the return of the money.
Svetlana wrote:The northern area of Cyprus is part of the ROC, how can you prevent EU nationals crossing the Green Line, within the same country?
Jerry wrote:I think if a few of these carpetbaggers had to endure a long delay by customs and immigration on arrival for "technical" reasons word would soon get around and they would stop using Larnaca. A complete ban would probably result in a slapped wrist for the ROC from the EU.
I think they have a bloody cheek, they abuse GCs at every opportunity on their crummy forums but they are only too happy to take advantage of the ROC facilities when it suits them. "We are EU citizens, you can't stop us" they say. The bastards pick and choose the law as and when it suits them.
IMPOSTALIEDUS wrote:nothing is being done about carpetbaggers in the south ,AND YOU HAVE THEM ,only last week three gc were arrested ,one a land registry employee and another an estate agent for forging tc title deeds into gc deeds . they had made deals worth 3.5 million euro before being found out by sheer luck,how much has allready been sold without any buyer knowing its tc land, most purchasers in the south have no deeds to prove otherwise
Jerry wrote:I think if a few of these carpetbaggers had to endure a long delay by customs and immigration on arrival for "technical" reasons word would soon get around and they would stop using Larnaca. A complete ban would probably result in a slapped wrist for the ROC from the EU.
I think they have a bloody cheek, they abuse GCs at every opportunity on their crummy forums but they are only too happy to take advantage of the ROC facilities when it suits them. "We are EU citizens, you can't stop us" they say. The bastards pick and choose the law as and when it suits them.
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