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Michael Sarris
Michael Sarris ( el, Μιχάλης Σαρρής; born 14 April 1946) is a Greek Cypriot economist and politician. He earned his B.Sc. in Economics at the London School of Economics & Political Science (LSE). He later continued his studies in the United States where he obtained his Doctorate in Economics at Wayne State University. Career In 1972, he joined the research department of the Central Bank of Cyprus. In early 1974, he moved to the Bank of Cyprus to work in planning and project analysis. His international career took off in 1975 when Sarris was employed by the World Bank. In the course of his career, his work covered a broad range of sectors in Africa, Latin America and East Asia. His duties included supervision of the design of the overall country strategies of the Bank, the provision of advice on policy issues for economic and social development, the elaboration of programmes for structural adjustments and the development of economic policy dialogue between the Bank an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Ministers Of Finance Of The Republic Of Cyprus
List of Ministers of Finance of the Republic of Cyprus since independence in 1960: {, border="1" class="wikitable" ! width="50%" , Minister ! width="25%" , Began ! width="25%" , Ended , - align=center , align=left, Reginos Theoxaris , 16 August 1960 , 1 July 1962 , - align=center , align=left, Renos Solomides , 2 July 1962 , 23 June 1968 , - align=center , align=left, Andreas Chr. Patsalides , 24 June 1968 , 31 October 1979 , - align=center , align=left, Afxentios Afxentiou , 1 November 1979 , 19 April 1982 , - align=center , align=left, Simos G. Vasiliou , 20 April 1982 , 6 January 1985 , - align=center , align=left, Constantinos Kittis , 7 January 1985 , 28 July 1985 , - align=center , align=left, Christos D. Mavrellis , 1 August 1985 , 27 February 1988 , - align=center , align=left, George Syrimis , 28 February 1988 , 27 February 1993 , - align=center , align=left, Fedros Economides , 28 February 1993 , 6 November 1994 , - align=c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Africa
Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area.Sayre, April Pulley (1999), ''Africa'', Twenty-First Century Books. . With billion people as of , it accounts for about of the world's human population. Africa's population is the youngest amongst all the continents; the median age in 2012 was 19.7, when the worldwide median age was 30.4. Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, behind Oceania. Scholars have attributed this to different factors including geography, climate, tribalism, colonialism, the Cold War, neocolonialism, lack of democracy, and corruption. Despite this low concentration of wealth, recent economic expansion and the large and young population make Afr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyprus Popular Bank
Cyprus Popular Bank (from 2006 to 2011 known as Marfin Popular Bank) was the second-largest banking group in Cyprus behind the Bank of Cyprus until it was 'shuttered' in March 2013 and split into two parts. The 'good' Cypriot part was merged into the Bank of Cyprus (including insured deposits under 100,000 Euro) and the 'bad' part or legacy entity holds all the overseas operations as well as uninsured deposits above 100,000 Euro, old shares and bonds. The uninsured depositors were subject to a bail-in and became the new shareholders of the legacy entity. As at May 2017, the legacy entity is one of the largest shareholders of Bank of Cyprus with 4.8% but does not hold a board seat. All the overseas operations, of the now defunct Cyprus Popular Bank, are also held by the legacy entity, until they are sold by the Special Administrator, at first Ms Andri Antoniadou, who ran the legacy entity for two years, from March 2013 until 3 March 2015. She tendered her resignation due to di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyprus Pound
The pound, or lira ( el, λίρα, plural , and tr, lira, ota, لیره, from the Latin via the Italian ; sign: £, sometimes £C for distinction), was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, from 1879 to 2007, when the Republic of Cyprus adopted the euro. However, the self-proclaimed Turkish Republic of Northern Cyprus uses the Turkish lira as its official currency. The Cypriot pound was introduced in 1879 and was equal in value to one pound sterling. It remained at that value until 1972, some twelve years after Cyprus gained independence from the United Kingdom. The Cypriot pound was replaced by the euro as official currency of the Republic of Cyprus on 1 January 2008 at the irrevocable fixed exchange rate of £C 0.585274 = €1.00. History The British introduced the Cypriot pound in 1879. It had the same value as sterling's pound, and replaced Turkish currency at a rate of £1 stg to 180 piastres. It was initiall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 19 eurozone members are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The eight non-eurozone members of the EU are Bulgaria, Czech Republic, Croatia, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, albeit all but Denmark are obliged to join once they meet the euro convergence criteria. Croatia will become the 20th member on 1 January 2023. Among non-EU member states, Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins. In addition, Kosovo and Montenegro h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be attri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Deficit
The government budget balance, also alternatively referred to as general government balance, public budget balance, or public fiscal balance, is the overall difference between government revenues and spending. A positive balance is called a ''government budget surplus'', and a negative balance is a ''government budget deficit''. A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year. A budget is prepared for each level of government (from national to local) and takes into account public social security obligations. The government budget balance can be broken down into the ''primary balance'' and interest payments on accumulated government debt; the two together give the budget balance. Furthermore, the budget balance can be broken down into the ''structural balance'' (also known as ''cyclically-adjusted balance'') and the cyclical component: the structural budget balance attempts to adjust for the impact of cy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austerity
Austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result. In most macroeconomic models, austerity policies which reduce government spending lead to increased unemployment in the short term. These reductions in employment usually occur di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . The euro is divided into 100 cents. The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro. As of 2013, the euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar. , with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Minister Of Finance Of The Republic Of Cyprus
List of Ministers of Finance of the Republic of Cyprus since independence in 1960: {, border="1" class="wikitable" ! width="50%" , Minister ! width="25%" , Began ! width="25%" , Ended , - align=center , align=left, Reginos Theoxaris , 16 August 1960 , 1 July 1962 , - align=center , align=left, Renos Solomides , 2 July 1962 , 23 June 1968 , - align=center , align=left, Andreas Chr. Patsalides , 24 June 1968 , 31 October 1979 , - align=center , align=left, Afxentios Afxentiou , 1 November 1979 , 19 April 1982 , - align=center , align=left, Simos G. Vasiliou , 20 April 1982 , 6 January 1985 , - align=center , align=left, Constantinos Kittis , 7 January 1985 , 28 July 1985 , - align=center , align=left, Christos D. Mavrellis , 1 August 1985 , 27 February 1988 , - align=center , align=left, George Syrimis , 28 February 1988 , 27 February 1993 , - align=center , align=left, Fedros Economides , 28 February 1993 , 6 November 1994 , - align=c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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