Cyprus Mail newspaper

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Cyprus Mail www.cyprus-mail.com

Tuesday, September 4, 2012

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CYPRUS

SPORT

LIFESTYLE

Bill outlines new state hospital charges

Sharapova books her spot in US Open quarter-finals 32

Success in One Direction only as boys become dolls centre

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Troika talks at ‘advanced stage’ International lenders due to return to the island after Sept 17 to finish first draft By George Psyllides

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HE government and its lenders could agree on a first draft of Cyprus’ bailout programme the next time they are on the island, finance minister Vasos Shiarly said yesterday, as he assured that the state could meet all its shortterm financing needs even with delays in the negotiations. “I believe we will be at such an advanced stage that normally we should be able to agree on the first draft of the memorandum,” the minister told reporters. Shiarly said consultations with the troika – European Commission, European Central Bank and International Monetary Fund – continued in August and some outstanding issues are expected to be ironed out in the next 10 to 15 days. “There are some areas where our side has different positions to those of the troika, but I wouldn’t say we are in disagreement,” Shiarly said. The two sides will set a date for the next troika visit on September 17 as Cyprus has to prepare for the Eurogroup and Ecofin meetings that will take place on the island on September 14 and 15. Cyprus applied for a bailout in June, prompted by its banks’ need for state support. Shiarly sought to dispel concerns, assuring that the state can meet its short-

term financing obligations up until October or beyond, if there is a delay in the negotiations with the troika. “What is important is that despite the difficulties we have ... we continue to make all payments without any cuts,” Shiarly said. “It is important to bring order to our public finances for us to create conditions fostering growth.” The government intends to submit a package of austerity measures to parliament for approval, the minister said, but it will not address the widening fiscal deficit. Shiarly repeated yesterday that Cyprus was looking at a deficit of 4.5 per cent – instead of the initial 3.5 per cent – without any measures, while the economy will contract between 1.0 and 1.5 per cent. Shiarly said he expected about one point would be shaved off the deficit forecast with fiscal consolidation measures generating savings of between €150 million and €200 million – the same target when the deficit was expected to close at 3.5 per cent. “There were various efforts for these measures to be implemented but it was not possible,” Shiarly said. In the meantime, economic conditions abroad and in Cyprus have worsened, raising the deficit, he said. The measures were meant to be rolled out in May but the government’s unwillingness to clash with

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‘Moonies’ leader dead at 92, vast legacy left

The Duke of York said he would never do it again

Prince Andrew abseils down the Shard THE DUKE of York overcame his “sense of trepidation” to abseil down the tallest building in Europe for charity - the Shard in London yesterday. Andrew descended the Shard skyscraper, beginning his daredevil stunt from the 87th floor - just below the top of the 1,016ft tower - and finishing half an hour later on level 20. The 52-year-old royal was one of around 40 people to lower themselves to raise money

for educational charity the Outward Bound Trust and the Royal Marines Charitable Trust Fund. Making it safely down after abseiling a total of 785 feet, Andrew said: “I’m not even going to say that was a piece of cake or not. I will never do it again. “I have to say, the most difficult bit was walking up the stairs.” Donors have given more than £290,000 to sponsor Andrew, who is the Outward Bound Trust’s chairman of trustees.

SUN Myung Moon, a selfdeclared messiah who founded the controversial Unification Church which has millions of followers around the globe, died yesterday leaving a vast business empire and a legacy of mass weddings. Church officials said Moon, 92, who had suffered complications from pneumonia, was taken to hospital in Seoul in mid-August and was moved to a hospital in a rural retreat last week when his family believed there was little chance of recovery. His body was lying in a vast building resembling the White House at the retreat in rugged hills about an hour outside the South Korean capital of Seoul. The funeral will be on September 15, after which he will be buried at the retreat. Moon had led an active public life until recently, officiating a mass wedding for 2,500 in March and leading a service of more than 15,000 followers in July. Critics have for years vilified the church as a heretical and dangerous cult and questioned its murky finances and how it indoctrinates followers, described in derogatory terms as “Moonies”. Moon is survived by his wife - the pair are called “true parents” by followers - and 10 of their 13 children. Religious experts say Moon will remain at the centre of the church, keeping it together despite signs of previously unimaginable fissure among his sons, according to a creed that had been prepared since a helicopter crash four years

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