Mar­kets see Chirac win, call for flota­tion of rates

Financial Mirror (Cyprus) - - FRONT PAGE -

Mar­kets tipped Jac­ques Chirac to win the French pres­i­den­tial elec­tions, but were un­easy on some of his poli­cies, while at home, Bank of Cyprus Chair­man Solon Tri­antafyl­lides called fro the flota­tion of in­ter­est rates as part of the path to­wards EU membership, ac­cord­ing to the Cyprus Fi­nan­cial Mir­ror is­sue 108, on April 26, 1995.

An­a­lysts ex­pect






as the Jac­ques Chirac to beat so­cial­ist ri­val Lionel Jospin for the French pres­i­dency, but re­mained ner­vous about the im­pact of his eco­nomic poli­cies, such as re­duc­ing the deficit in the health care sys­tem with­out cut­ting benefits, cut­ting the bud­get deficit while re­duc­ing taxes.



Bank of Cyprus Chair­man Solon Tri­antafy­il­lides said that it was high time rates were right con­di­tions ex­ist for Cyprus’ EU membership. He told share­hold­ers at the AGM that the flota­tion will ben­e­fit both de­pos­i­tors and bor­row­ers.

CA BAC 1-11s:

Cyprus Air­ways is ex­pected to de­cide who to sell its three BAC 1-11s to, with Chair­man Vas­silis Rol­o­gis say­ing that de­spite the loss of air­craft, 110,000 more seats would be cre­ated this year. Af­ter huge losses in 1992-1993, CA man­aged to re­turn to the black with a profit of about CYP 3-4 mln ex­pected. In 1994, the air­line car­ried 1.3 mln pas­sen­gers and Euro­cypria 382,000.

For­mer Pres­i­dent Ge­orge Vas­sil­iou has ac­cepted an in­vi­ta­tion from the Turk­ish Cypriot Young Busi­ness­men to visit the north and talk about the eco­nomic im­pli­ca­tions of a so­lu­tion.


in north:

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