Economy on Pitsas Insurance

Cyprus citizenship through investments

Mon, 05 Nov 2018 00:00:00 +0000

The Cyprus economy in the past few decades has been an ideal environment model for foreign investments. In order to encourage foreign direct investments in recent years, the Cyprus government has launched a special program allowing non-Europeans to be able to apply for a Cypriot Passport through investment or business ventures. As a citizen of a European state, the holder of a Cyprus passport will be able to enjoy the benefits of European interior market, such as free movement of goods, services and capital along with the ease of living permanently in any EU country, as well as the visa-free access to 147 different countries worldwide.

CYPRUS BANKING CRISIS

Tue, 17 Apr 2018 00:00:00 +0000

Since 2008, has launched a first-class crisis on the Cypriot economy and society with the bankruptcy of a Cypriot bank Laiki in March 2013. This was the priming for the deterioration of the country's living standards with chain influences such as rising unemployment and deduction of the national income of the country as a result the corrosion of the social structure.

The European Union and the International Monetary Fund, looking at the unprecedented expansion of the Cyprus banking system, the heavy fiscal deficit and the increase in the country's public debt, decided that the public sector and the banking system should be upgraded.

Is 2018 the year of the next global financial crisis?

Sun, 11 Mar 2018 00:00:00 +0000

For Bill Gates, founder of Microsoft, the next financial crisis is just inevitable. During an interview on February 2018 hosted by the on-line social platform Reddit, Mr. Gates claimed that a global financial crisis similar to that triggered by the bankruptcy of Lehman Brother in September 2007 should be expected in the following two years. But which are the reasons behind Mr. Gates pessimism?

The Dow Jones Industrial average, the main stock index of the USA stock market, has increased by more than 65% in the last five years (2018), indicating a strong investor’s trust in the economic prospects of the global economy. The unemployment rate of the US economy decreased from 16% in 2010 to 4% in 2017, indicating a consolidation of both producers and consumers’ confident. The Non-performing loans in countries like USA and UK are less than 1,5% of the total credits, while countries like Russia try to keep this rate at less than 10%. The inflation rate in USA in 2017 was about 2% and in the main economies of Eurozone less than 1.5%. The regulatory framework introduced after 2007 for the support of the financial and banking system in the developed countries of OECD, such as the Dodd–Frank Wall Street Reform and Consumer Protection Act, seems to contribute to the creation of a more stable environment for financing. Nevertheless, the global economy is a giant with feet of clay.