ISSUE 03 JUNE 2011 PRICE €6.95
the international investment, business & finance magazine of cyprus
SOVEREIGN DEBT & EURO FEARS
ARE POLITICS OR ECONOMICS TO BLAME?
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WHY GERMANY WILL NOT ALLOW A EURO FAILURE
+ InterviewS DESPO LEFKARITI DEMEOSTHENES MAVRELLIS ARBITRATION
Could Cyprus become an international centre?
ONE MAN’S CRISIS… The Gold Guide to Hedge Fund Investing
Interview ACCA President Mark Gold
Plus:
MONEY / BUSINESS ECONOMY TAX & LEGAL LIFESTYLE / opinion
8 EDITORIAL 10 NEWS BRIEFING: GLOBAL 14 NEWS BRIEFING: LOCAL 16 COMMODITIES/FOREX WATCH
issue 03 june 2011
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COVER STORY Sovereign Debt and Euro Fears 24 Haircuts and Pigs 25 Why Germany Will Not Allow
a Euro Failure
26 Politics, Not Economics, Is To Blame 30 How Well Would the Cypriot Banks
+ opinion The Euro’s Political Weakness by Simon Smith 18 The Debate: “Will the price of gold continue to rise over the next decade?” by Andreas Andreou (Yes) and Marios Mavrides (No) 20 Neither A Borrower Nor A Lender Be… by Alexis Erotocritou
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Survival Of The Fittest by George Th. Karaolis
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Cope With a Greek Default?
32 The Prospects for Cyprus Through the
Debt Crisis
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Unlimited Communication: 50 Years of Cyta by Rita Hadjiloizou-Karatzia 58 And The Sea Smiled Back :) by Peter Economides
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FEATURES 34 | Private Sector ADR Initiatives Secure Business Community Backing An in-depth look at how Cyprus is starting to come to terms with Arbitration
44 | One Man’s Crisis…Is Another Man’s Hedge Fund Return The Gold Guide to Hedge Fund Investing
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the international investment, business & finance magazine of cyprus
50 | Hard Times in the Global Village Physics and Philosophy meets Economics in an interview with Lou Marinoff
63 | Taking Cyprus On The Road The role of the Cyprus Chamber of Commerce and its foreign trade missions in promoting Cyprus to the international business community
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{money} {business} {economy} {tax&legal} {lifestyle}
{june 2011}
issue 03
+ BOok reviews
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{money}
66 Money in the bank How Bank of Cyprus attracts investors 68 Private Banking with a Strong Personal Touch Eurobank EFG’s Private Banking services 72 Company Profile Bonalbo
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{business}
72 Leadership and Innovation Innovation Strategy 76 Lean On Me Carlo Scodanibbio on Lean Management 78 The Power of Communication Despo Lefkariti on the challenges facing the local and global advertising industry
82 When Gold Met Gold ACCA President Mark Gold talks about the future of the accountancy profession
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{economy}
84 Going to Market Demosthenes Mavrellis discusses how he advises companies wishing to list on regulated, secondary and unregulated markets
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{tax&legal}
Money: Free Capital: How 12 private investors made millions in the stock market by Guy Thomas 70 business: Money and Power: How Goldman Sachs Came to Rule the Worldby William D. Cohan 74 Economy: Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini 86 tax&legal: Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books by Joseph T. Wells by Joseph T. Wells 89 lifestyle: Record Collector Rare Record Price Guide by Ian Shirley (Editor) 97
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{lifestyle}
94 Record Prices Old records by the right artists and in the right condition could give you an impressive return on your investment.
88 Forewarned is Forearmed Ten areas requiring good planning when using a Cyprus company the international investment, business & finance magazine of cyprus
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