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Saturday, July 28, 2012
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Measures set to be painful Troika ends its visit but talks are to continue through August By Stefanos Evripidou
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HE TROIKA delegation representing the European Commission, European Central Bank and International Monetary Fund ended its second round of meetings in Cyprus yesterday, leaving members of the House Finance Committee feeling the future was particularly bleak. House Finance Committee Chairman Nicolas Papadopoulos said the troika briefed MPs on the results of diagnostic tests on Cyprus’ banking system and public finances. “Unfortunately, the messages so far are not pleasant. The problems appear to be much greater than they themselves initially estimated,” he said. “It seems that for the foreseeable future we will experience difficult times, as they have told us, and will need to take painful measures to tackle the problems both of the banking system and state finances,” he added. The DIKO deputy noted that he gleaned from the
discussion that the troika were looking at a “significant shrinking” of the banking system and public sector, targeted benefits, CoLA, and the pension system. “They consider our economy too small to sustain in the future the size and high cost of the public service,” he said. On the bright side, the troika said Cyprus’ economy had more in common with the situation in Ireland rather than Greece, added Papadopoulos. AKEL deputy Stavros Evagorou said the troika identified the problems of the banking sector as the main issue and its “defective supervision”, a clear dig at former central bank governor Athanasios Orphanides. EDEK’s Nicos Nicolaides said the troika’s main message was that “things are much worse than they thought”. Greens deputy Giorgos Perdikis said the troika told them Cyprus was paying the price for procrastinating over taking the necessary measures. “Today, we are paying the price for this TURN TO PAGE 5
OLYMPIC GAMES OPEN
London was abuzz last night as 60,000 attended the opening ceremony of the Olympics STORY PAGE 7
‘Attacked and killed with impunity’ by the British THE EXTENT of horrific British brutality during colonial rule in Cyprus came to light yesterday in their own words through top secret Foreign Office files hidden for 50 years, which were thought to have been longago destroyed. Both The Times and the Guardian newspapers yesterday published details from the documents, which depict a regime of brutality and torture against EOKA fighters and civilians alike during the fouryear struggle for independence from 1955 to 1959. The documents also showed how the British military closed rank when incidents of brutality were brought to light. According to The Times, in one of the worst recorded incidents, following the killing of the wife of a British sergeant by EOKA members, 300 civilians were rounded up and beaten in 1958, causing deaths for which no one was held to account. The fatal shooting of Catherine Cutliffe and the wounding of another British soldier’s wife, led to three deaths. Johanna Zachariades, 12, died from shock, but a coroner concluded that “there was insufficient reliable evidence to deduce what brought on the state of fear”, said the paper. Panayiotis Christoforou, 37, was found dead in a military truck with “no apparent signs of injury”. Loukas Andreas Louca, 17, died from a blow TURN TO PAGE 6