Personal income, tax revenue, profits and prices dropped, while jobless rates rocketed with thousands Cypriots having no money even for the necessary essentials.
Cyprus still continues to survive with capital controls, although individuals and businesses are able to conduct their daily activities all be it with restrictions. The Cyprus Popular Bank split into “good” and “bad” entities and effectively shut down. Moreover, still the danger concerning the Bank of Cypriot has not yet completely gone.
The outlook of economic performance for the next few years is undoubtedly wholly negative with hundreds of Cypriots emigrating to other countries every month in search of a better life and to escape the corruption and theft (of bank accounts) that took place on a mass scale without a compassionate EU to help the man in the street of Cyprus.
Unfortunately, Cyprus may never be quite the same again!
As we approach Christmas 2013 and look back in sadness we watch, helplessly as our tradition of Christmas being eroded further and further. Consumerism, brand conscious Cypriots and showing off attitudes were extremely widespread in recent years with crazy consumers at the stores buying, consuming and ultimately dying in spirit at least.
In 2013 however much of this has changed at least for the majority of Cypriots. This Christmas Holy season, maybe we should all reflect just what Christmas truly means and remember that around the world and our country there are many others much worse off than we are.
As we witness change, the radical austerity imposed to all Cypriots may yet offer positive thing. People started to change and proof of that is the Larnaca’s Parents Network being the source of help where parents despite the current trend gave from the heart to their “Give a Gift” programme for needy children.
Food banks and charity started for the people in need and a certain community spirit took root. Perhaps now we can judge a person by the content of their character and not by the brand they wear or the car they drive!
Let’s hope that the crisis will turn into an opportunity for us all to develop the real values of altruism and make simplicity, giving and relationships foremost in our lives.
Dear readers, Merry Christmas and we wish you a spiritually prosperous New Year in 2014.
Let’s hope that the crisis will turn into an opportunity for us all to develop the real values of altruism and make simplicity, giving and relationships foremost in our lives.
Dear readers, Merry Christmas and we wish you a spiritually prosperous New Year in 2014.
Thank you for reading our humble Blog!