Gold Magazine April - May 2013, Issue 25 | Page 23

Christis Christoforou: The attractions
are the same. What has changed? If anything – and it pains me to say so – the
truth is that one of our key advantages
will become even sweeter: the talent pool
of available young, educated and proactive business-minded professionals will
get bigger over the coming months. This
probably means lower labour costs and
lower operational costs overall and they
are already very competitive internationally.

We Told
You So…

“Cyprus will most likely have to submit to EU bailout funds within the next
18 months but this is not necessarily a
bad thing. If you have a political process
that is not capable of doing what needs
to be done, then having an external
authority dictating corrective measures
is good for the country overall... In that
way, the politicians here will have someone else to blame for the implementation
of corrective but painful reforms… Right
now Cyprus needs to recapitalise its
banking sector, so why not make investing in these banks tax-deductible over
the next 10 years? The alternative is that
the state raises the money, so wh 䁹