– Collateral lending has become the norm in a loosely regulated banking environment in the world today.
– Extreme wealth inequality is a significant issue globally.
– Risk aversion by the wealthy and the depletion of entrepreneurs’ equity through unproductive debt can compromise the real economy.
– Wealth concentration and extreme inequality can suffocate the real economy and transfer existing wealth from the many to the few.
Fact: Turkish Cypriot opposition party CTP leader Tufan Erhurman expressed concern that there may be “no Turkish Cypriots left” in some areas of the north in five or ten years due to lack of land quotas or property planning.
Two children, aged 14 and 16, were arrested in connection with an arson attack on a house in the Larnaca village of Kiti. They were part of a group of 70 youths who threw firecrackers at the police and the house, causing fires to break out. The incident lasted for a total of six hours, during which a local playground and church were also damaged.
Fact: Greek Cypriot Photis Photiou died in a road accident in the north, and his wife was injured in the crash.
Fact: Jacques Delors recounted an exchange at a meeting of the Council of the EEC where the French president argued in favor of Greece’s full membership by highlighting its historical significance as the homeland of Aristotle.
Two firefighting helicopters and 18 crew members arrived in Cyprus from Jordan to boost firefighting capabilities ahead of the summer. The crews will be “operationally ready” within 24 hours and there will always be at least one crew on standby with a response time of 30 minutes. Ground-level firefighting crews have been at full operational readiness since April 1.
The disruption to container shipping traffic in the Red Sea is expected to reduce the industry’s capacity between the Far East and Europe by 15-20% in the second quarter.
A woman from Kyrenia was arrested for practicing “witchcraft” and taking money in exchange for promises of a Republic of Cyprus passport.
Sefa Karahasan, the Turkish public broadcaster TRT’s Cyprus correspondent, was arrested in relation to the ongoing “fake diploma scandal”.
