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Just in -- the European Commission, ECB and IMF have published the results of their First Review Mission to Cyprus.The top-line conclusion of the Troika's officials is that the Cypriot bailout programme is on track, with the Nicosia government hitting the targets set in the rescue agree in March. However, they also admitted that the Cyprus labour market has deteriorated more than they expected.Here's the key section:QuoteThe short-run economic outlook remains difficult and subject to considerable uncertainty. Recent indicators support the program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14. Encouragingly, confidence indicators have improved somewhat from the lows hit in April. But the labor market has weakened more than anticipated, and unemployment has continued to rise.Growth is expected to recover modestly starting in 2015, driven by non-financial services.Today's unemployment data confirms that Cyprus's labour market certainly has worsened. The jobless rate hit 17.3% in June, up from 16.5% in May. A year ago, the rate was 11.7%.The full statement is online here: It explains that Cyprus will get its next bailout payment in September, if the Eurogroup and the Executive Board of the IMF agree with the report's findings.
The short-run economic outlook remains difficult and subject to considerable uncertainty. Recent indicators support the program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14. Encouragingly, confidence indicators have improved somewhat from the lows hit in April. But the labor market has weakened more than anticipated, and unemployment has continued to rise.Growth is expected to recover modestly starting in 2015, driven by non-financial services.
the program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.
Quotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathed
They steal eight billion €uros from investors, tie up another eight billion for up to two years, destroy the major business on the island, increase taxes everywhere......yet they are surprised that the market has contracted and people are out of werk....
Euro Crisis explained - Al Murray
Quote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday.
Quote from: Baldy on July 31, 2013, 10:35:58 PMQuote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday. I see someone else has set up in your game too.........
Quote from: apc2010 on August 01, 2013, 01:51:32 PMQuote from: Baldy on July 31, 2013, 10:35:58 PMQuote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday. I see someone else has set up in your game too.........Yep. We spoke about it when Ginger was with us in The Fishing Shack.
Quote from: Baldy on August 01, 2013, 04:31:56 PMQuote from: apc2010 on August 01, 2013, 01:51:32 PMQuote from: Baldy on July 31, 2013, 10:35:58 PMQuote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday. I see someone else has set up in your game too.........Yep. We spoke about it when Ginger was with us in The Fishing Shack. Did we.........
Quote from: apc2010 on August 01, 2013, 10:27:17 PMQuote from: Baldy on August 01, 2013, 04:31:56 PMQuote from: apc2010 on August 01, 2013, 01:51:32 PMQuote from: Baldy on July 31, 2013, 10:35:58 PMQuote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday. I see someone else has set up in your game too.........Yep. We spoke about it when Ginger was with us in The Fishing Shack. Did we.........
Quote from: Baldy on August 01, 2013, 10:31:45 PMQuote from: apc2010 on August 01, 2013, 10:27:17 PMQuote from: Baldy on August 01, 2013, 04:31:56 PMQuote from: apc2010 on August 01, 2013, 01:51:32 PMQuote from: Baldy on July 31, 2013, 10:35:58 PMQuote from: Steve on July 31, 2013, 10:11:25 PMQuotethe program’s projections of a contraction in output of about 13 percent cumulatively during 2013-14.Not a surprising figure but Jeez that is going to hurt. Not sure what to say that's useful but hopefully it will leave you lot unscathedI tend to get contracts with either the guberment or the church...The gubberment will be pulling in a notch in their belt and the church will not be getting too much in their begging bowl each Sunday. I see someone else has set up in your game too.........Yep. We spoke about it when Ginger was with us in The Fishing Shack. Did we......... Was I listening ........
