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Tuesday, January 22, 2013
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EU partners turn up heat on Cyprus Schaeuble: you may ask why Cyprus is Russia’s second-largest foreign investor By George Psyllides
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YPRUS yesterday briefed its eurozone counterparts on the progress of an adjustment programme but no decision was expected on the financial assistance programme pending the total amount needed for bank recapitalisation. At the same time, it was certain that Cyprus’ partners would turn up the heat concerning financial transparency matters, which they see as key before agreeing to a bailout, given their statements before the meeting, which was still continuing at the time of going to press. “We do not have all necessary data in order to make a decision,” said French Finance Minister Pierre Moscovici before the Eurogroup meeting. He added that ministers will review the matter in depth at a later date. He was echoed by his German counterpart, Wolfgang Schaeuble. Rescue rules require there to be “a danger for the stability of the eurozone as a whole,” Schaeuble told reporters as he arrived at the meeting. “This has to be met. We will see. The German minister did not think the group would come to a decision on Cyprus in a short time.
“I also don’t think that’s necessary. In any case, the relevant institutions have to make their statements and the preconditions have to be fulfilled or we can’t decide.” Evaluating bank capital needs is crucial to determining how much Cyprus should receive in badly needed financial aid. On Saturday, the Central Bank said the assessment of technical details for the calculation of the banks’ capital needs was still in progress. That however, would not be the only obstacle in Cyprus’ way to a bailout, which is not expected before February’s presidential elections. In the past couple of weeks, a number of lawmakers from Germany’s parliament and government officials, have voiced concerns about a rescue for Cyprus, suggesting European taxpayer money would be effectively bailing out Russian tax evaders. “Suspicion arises -- and it’s plain to see -- because Russian investment in Cyprus is so high and at the same time Cypriot investment in Russia is high,” Schaeuble said yesterday on Germany’s ARD television 2+Leif program. “You may ask why Cyprus is the second-largest foreign investor in Russia and
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Smoking ban led to steep fall in asthma attacks
Two of the walls of an 18th century mosque in the buffer zone village of Denia, which is undergoing renovations, have been knocked down by vandals in an act that has been described as ‘criminal’. Police had brought someone in for questioning last night as part of their investigations (Christos Theodorides) SEE STORY PAGE 7
INTRODUCING laws banning smoking in enclosed public places can lead to swift and dramatic falls in the number of children admitted to hospital suffering asthma attacks, according to a study in England published yesterday. Researchers at Imperial College London found there was a 12.3 per cent fall in hospital admissions for childhood asthma in the first year after laws against smoking in enclosed public places and workplaces came into effect in July 2007. Similar anti-smoking legislation has been introduced in many other countries, including in the United States where it has also been linked to a reduction in childhood asthma emergencies. “The findings are good news ... and they should encourage countries where public smoking is permitted to consider introducing similar legislation,” said Christopher Millett from Imperial’s school of public health, who led the study. Before the ban on smoking in enclosed public spaces was implemented in England, hospital admissions for children suffering a severe asthma attacks were increasing by 2.2 per cent a year, peaking at 26,969 in 2006/2007, the researchers found. That trend reversed immediately after the law came into effect, with lower admission rates among boys and girls of all ages. There were similar reductions among children in wealthy and poor neighbourhoods, both in cities and in rural areas.