No other country in the world accepts it as Turkey has kept troops on the lands it invaded in 1974 and refuses to remove them and won’t recognize Cyprus, which is a member of the EU, which Turkey hopes to join one day.

According to Eroglu, the use of the mother tongue is a human right, protected by agreements of the EU. In his letter, he stressed as well that, “The Turkish language is recorded by the EU as one of the official languages of the Greek-Cypriot administration.”

Finally, Eroglu said that he expects to meet Greek Cypriot Leader, Nikos Anastasiades, within the next month and hopes that this new round of talks will launch negotiations. Talks to re-unify the island have failed for 39 years and there is no sign of any progress.

He suggested creation of a monetary union of the strong countries and said that if Cyprus is forced out during its economic crisis that the impact on the financial bloc would be minor.

In an interview with the German newspaper Frankfurter Allgemeine Sonntagszeitung, Sinn repeated that the temporary exit of countries facing economic problems could contribute to the strengthening of the common currency.

Regarding the newly-formed German euro-skeptical and conservative political party, Alternative for Germany (AFD), he said that the party’s arguments are logical and he admired AFD’s chief Bernd Lucke as an economist.

However, he clarified that he continues to believe that euro has a chance to survive, but only as the currency of the strong countries of Europe. “We have to defend euro. But I think it is a major mistake to keep at all costs into the euro the weaker countries of the European south. This way, we do not help these countries and at the same time we reduce the chances euro has to survive,” he said.

When questioned about the model chosen for the rescue of Cyprus, he noted hat it was an infection point and that when a bank goes bankrupt, the cost should be borne by the bank itself not by its depositors. Cyprus is confiscating up to 80 percent of bank accounts over 100,000 euros ($130,000) and forcing depositors to pay for the banks bad investments.

He said that the cost of a bailout for Cyprus, 10 billion euros ($13 billion) from international lenders, and another 7 billion euros ($9.16 billion)  borne by the government and taxpayers, will turn out to be much higher than that.

Anastasiades had written Barroso to explore the possibilities of Cyprus receiving funding from various funding schemes that exist in the EU. Usually these schemes exist to fund certain actions and serve certain needs.

The biggest is CAP, the Common Agriculture Policy, the largest single recipient of funding almost at 40% of the EU budget. Other schemes involve funding for workers and employees who are fired from companies and factories due to globalization.

This usually accounts for re-training of employees and workers who want to start working on another field. Other schemes involve funding for underdeveloped regions in the EU, such as Ipirus or Thrace in Greece. Barroso made it clear that Cyprus should not expect to receive any serious funding from the EU other than the funding tied to the reforms and the austerity, the well-known Memorandum of Agreement that has so far been extended to Latvia, Portugal, Ireland and Greece.

Cyprus faced a high budget deficit and alarming debt-to-GDP ratio as its two main banks went bust due to speculation and Greek debt being restructured.

There are now over 10 million more jobless people in Europe than in the beginning of the crisis, according to a snapshot of the European labor market released by the International Labor Organization (ILO).

The employment situation has continued to deteriorate since the introduction of fiscal consolidation policies.There are now more than 26 million Europeans without a job, with young and low-skilled workers being the hardest hit.

According to the ILO,the worsening employment situation also means that the risk of social unrest is now 12 percentage points higher than before the crisis started. Especially in countries like Greece, Cyprus, Italy and Portugal, where austerity measures are actually increasing the economic crisis.

The ILO will hold its 9th European Regional Meeting focused on Jobs, growth and social justice, in Oslo on April 8-11.

The Meeting will be structured around plenary discussions and interactive panels with heads of States and Governments, Ministers of Labor and Representatives of international economic and financial institutions.

It is striking that only five out of 27 EU countries, (Austria, Germany, Hungary, Luxemburg and Malta) have witnessed employment rates above pre-crisis levels. Countries like Cyprus, Greece, Portugal and Spain have seen their employment rate drop by more than 3 percentage points in the last two years alone.

However, Germany is the only country in which – since 2008 – youth unemployment seems to only be reduced. Within this context, the organization of the United Nations calls for at least an “employment guarantee” for young people.

The song is titled ‘Oh Cyprus’ and it is a satiric look about the recent events and their consequences for Russian depositors who stand to lose scores of millions of euros being confiscated by the government.

Although the song is written with a sense of humor, the anger and the disappointment of Russians over the so-called “haircut” they are being forced to take is obvious.

In a very characteristic verse, USB compares the economic measures with the fall of the Soviet Union when they were, as they say, victims of a grand theft.

Below is the official video clip of the song:

http://https://www.youtube.com/watch?v=LIuxLrvleDQ

Suddenly everyone wants to learn about Cyprus, while the most popular questions show that many have sheer ignorance regarding geography, as well as history. It is certainly not a coincidence that the most popular question is “Is Cyprus a country?” and the second most common is “Is Cyprus part of Greece?”

An author of the Guardian decided to shed light on the issue of Cyprus by giving the answers to the most common questions of the recent days suggested by Google search engine.

These are the questions in Google and the answers given by the author of the Guardian:

Is Cyprus a country?
Yes. Good. We’re off to a strong start.

Is Cyprus part of Greece?
As in modern Greece? No. It was, however, part of ancient Greece. The Greek goddess Aphrodite was said to have been born in the sea around the island, and a major temple to her at Paphos became the center of her worship in the Aegean world. Cyprus was also – a little more recently – the birthplace of Dragons’ Den star Theo Paphitis, but there are no plans at present for a temple in his honor.

Is Cyprus safe?
Historically, not really. As well as ancient Greeks, it’s been ruled – over the years – by Phoenicians, Assyrians, Egyptians, Persians, Romans, Byzantines, Arabs, Richard the Lionheart, Templars, Crusaders, Venetians, Ottomans and British colonialists. At present it’s safe for people but a lot less safe for money. Bank deposits of more than €100,000 have been frozen and are expected to return to their owners around a third smaller.

Is Cyprus part of the EU?
It is. It joined in May 2004. Which was, arguably, an error.

Is Cyprus in Europe?
Geographically? No. It’s actually nearer to Syria than mainland Europe.

Is Cyprus part of Europe?
Yes and no. See above. Mostly no.

Is Cyprus its own country?
To a point. The Republic of Cyprus is the internationally recognized governor of everything but two British Overseas Territories on the island, but there is also the small matter of the long-standing occupation of Northern Cyprus by Turkey. And, you know, the colossal, crushing debt.

Is Cyprus in Asia?
Yes, according to the UN.

Is Cyprus in the Middle East?
Also yes. So to recap: it’s a European-Asian nation in the Middle East with more than a dozen not especially careful former owners, a debt problem and two British military bases attached. Got it? Good. Now, any offers?

According to CyBC, among others, proposals for financial contributions, sending of food and the organization of a concert in order to collect money for help, were submitted.

The President of the Federation Peter Droussiotis expressed his belief that once again, the large Cypriot community of Britain will respond to the call of Cyprus for support and solidarity. The Cyprus High Commissioner Alexandros Zenon congratulated the federation for the initiative and said he believes Cyprus will overcome its problems.

The President of the World Federation of Overseas Cypriots Harris Sophoclides mentioned that Cypriots around the world will come together to help Cyprus in any way they can.

Minimizing taxes
Mark Galeotti, an international affairs professor at New York University, tracks Russian money movements. He explains why some Russians have chosen to place their money in Cyprus banks. “It’s been the den for all kinds of dirty money, criminal money, but also money just avoiding tax in Russia. Secondly, it has been a turntable for a lot of Russian oligarchs. Rich Russians move money out of Russia and then reinvest it to take advantage of a lower corporate tax rate,” he said.

For Russia’s ultra rich, Cyprus was a key to minimizing taxes. Galeotti said Cyprus also emerged, though, as a safe banking haven for Russia’s new middle class.
“It is a place where you can go, and enjoy a nice holiday and perhaps also stash a little bit of your money, so you feel you have something safely outside of Russia, just in case,” he said. “There was a sense that Cyprus gave you security, as well as a suntan.”
All that ended this week with the Cyprus banking crisis, and the decision to slap 40 percent taxes on all deposits over $130,000.

Protesting taxation on deposits
In Cyprus, protesters chant in Greek. But the street protests also have been sprinkled with Russian flags – and protest signs in Russian.
Maxim Mokeyev, executive director of Evans Property Services, a Moscow real estate company, said Russians see the tax as a hostile act.
“People take it very personally,” Mokeyev said in Moscow. “It is a trust issue that is completely gone. Because they have confiscated 40 percent of the deposits.”

He said Russians believe that currency controls could last for years, and that the oligarchs are fighting to get their money out now.
“The almost hourly flights to Cyprus were almost full of Russian businessmen trying to do it the Russian way, to use their connections, do whatever they can, to try to be different, to get their money out,” he said.

Mokeyev predicts that values for Cyprus vacation homes could drop by 50 percent as Russian buyers stay away.
“Cyprus has completely lost any trust from any investor or anyone who wants to park their money anywhere,” he said.
And so, while Cyprus may remain a safe haven for Russian tourists, it is no longer to be a safe haven for Russian investors.
(source: VOA)

The company’s story started more than half a century ago in Cyprus. Three brothers, Yiannis, Theodosis and Loizos Katsouris began by trading local produce. They established a high-quality reputation and name for themselves by selling the best olives, olive oils, fruits and vegetables.

In 1951, they decided to move to England to expand their horizons. In 1964 the family business Cypressa became a limited company, importing goods of the highest quality from around the world. The selections of products are imported from Greece, Cyprus and Spain just to name a few. They have been supplying across UK and Ireland to manufacturers, wholesalers, supermarkets and independent shops with a collection of exceptional Mediterranean goods, according to the company’s website.

Cypressa finds itself in a difficult position as it now doesn’t have enough funds or access to enough money to ship products, especially to the good English market.

Halloumi is a Cypriot cheese handmade from the cow, goat, and ewe milk. Sprinkled with mint and stored in brine, it develops a unique texture and salty taste. It can be fried or grilled for a crisp outer layer and a melted chewy inside. Halloumi is generally dismissed as a culinary cheese and is usually to be found grilled on the barbecue, consumed with lunza (smoked pork loin) and Greek bread.

“The 17 euro area member states managed to prove that they leave no country to leave the euro,” he said in an interview with the Phoenix television network broadcast by the Deutsche Welle. Juncker added that the solutions, that include confiscating up to 80 percent of deposits over 100,000 euros ($130,000) will require great sacrifices.

Cypriots should reorganize their banking system and diversify their economy, he said, adding that international lenders have to provide help beyond the 10 billion euros ($13 billion) loan they are putting up.

And although many Cypriots blamed German Chancellor Angela Merkel, whose country is footing much of the bill, for insisting on harsh terms, he objects to depictions of her on placards showing her in a Nazi uniform.