Every morning we spend a few minutes skimming over the headlines in various topics, but never before have we seen such scary news about our beloved island.
Some stories go deep into how much the unavoidable, and needed, austerity measures will effect every citizen, business owner and multi-millionaire.
For example, if the income tax threshold is brought down to €10,000 (something I consider possible) all citizens with an income higher that €19,500 (the current threshold) would have to pay additional income tax of €1,900 per year, in the best-case scenario. Those with an annual income of between €10,000 and €19,500 (who now pay no income tax) would pay, on average, €950 per year. This is just a small indication of what we will suffer in the coming years. – Loucas Charalambous
Others paint a clearer picture of how life in Limassol is not just a beach-day anymore. The over-all picture we do get is that the economy is going to be squeezed, and it’s going to happen soon.
We are not in the industry of scaring people or swaying political opinions, but we are in the position to get our opinions heard (as well as listen and promote the opinions of anyone who wishes to share them) about the current and upcoming scenarios.
Many have turned their anger and targeted their blame at the current government, the EU, aliens or the Greeks… we see it a little differently.
The Cypriot people have always been great business people, working hard to make profits to look after their families. This is true with the families that left for brighter shores after the invasion and have amassed little empires everywhere. From budget airlines, to chains of stationary stores, to the once-popular messengers’ mobile phone, there’s been a Cypriot involved, but never, never ever from Cyprus.
And we need to ask ourselves why. Why are the inspired and motivated business-minds leaving the island? Why are the educated and hard-working Cypriots leaving too?
We think the answer is simple, there is no support for the business market. Not by the government, not by the banking sector, not even by the public.
The usual, and totally understandable, reaction is to stop spending. Save money for the rainy day and avoid supporting anyone outside the immediate family. Whilst we, like you, must be careful where we spend our hard-earned money, there is something we are forgetting. We need to support the local economy, spend a reasonable amount of money, and trust business owners to stop ripping each other off . Effectively we should be working together to reboot the economy, the job market and the tourism sector, not trying to scrape the last euro coins out of each others’ pockets.
This is our advice: support local businesses so that they can create jobs or we will be left with a bigger problem than last year’s €1billion deficit and whether or not a president can be tried for negligent manslaughter.
As always, this is just our opinion and we’re more than happy to read your responses, criticisms and suggestions in the comments below.