17.12.2017

    By George Koumoullis IT IS SAID the biggest robbery of all time in in real terms – that is taking into account inflation – was carried out in 1990 when John Goddard, an English messenger, was robbed at knife-point of Bank of England Treasury bills and certificates of deposit from banks, worth a total £292 million. This robbery pales, however, when compared to the theft by Cyprus Airways (CY) that lasted decades with the support of the government. Although it may sound like an oxymoron, this was lawful theft. On the one hand, CY exploited its monopolistic status, imposed extortionate fares and, on the other hand, the government – the taxpayer – picked up the bill for its continuous deficits. The story of CY is an extremely interesting case study on the astonishing disadvantages of nationalisations in countries like Cyprus, in which nepotism...
13/08/17 05:06

ΛΕΞΕΙΣ ΚΛΕΙΔΙΑ

All hopes of modernising the economy have now been dashed

By George Koumoullis IT IS SAID the biggest robbery of all time in in real terms – that is taking into account inflation – was carried out in 1990 when John Goddard, an English messenger, was robbed at knife-point of Bank of England Treasury bills and certificates of deposit...

Cyprus Mail ·

All hopes of modernising the economy have now been dashed

Cyprus Mail

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