M E D I A K I T 2 0 1 3L E G ACY

M E D I A K I T 2 0 1 3

M E D I A K I T 2 0 1 3L E G ACY

A bi-monthly, intelligence & development oriented edition. A publication which proudly puts Cyprus in the international media map as a global economic and !nancial centre and as a business bridge between the EU and the Middle East.

!e Prestige Group boldly enters the fast pacing world of intelligence media by introducing LEGACY:

M E D I A K I T 2 0 1 3L E G ACY

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THE BIG PICTURERevolution

WRITER: Maria Louvari

At the end of 2008, Iceland’s three largest private banks experienced major liquidity problems and were, within the space of a few days, taken into government admin-istration. !e collapse of the banking sector, which was very large relative to Iceland’s economy, together with the rapid depreciation of the Icelandic Krona, brought about an unprecedented economic and "nancial crisis.

Only a few years prior to the economic disaster, a banking boom in which the sector’s assets grew to 10 times the country’s GDP, lured many of Iceland’s 320,000 population from traditional industries into the world of "nance. Fishermen and sailors turned more “speculative” and got into banking and boom-ing real estate sectors. “!ose were the days!” you could here some of them say at the end of 2008, when the volcanic ash was nothing in comparison to the ashes of their economy. “Never again” you can hear most of them say today.

What’s the story? Morning glory…!e people of Iceland seem to be the country’s most inspirational and powerful leader, by setting a com-mendable example to the global community! It is worthwhile exploring into how all these events un-folded, as of recently.

In 2008 the main bank of the country is nation-alized and the Krona devaluates. !e stock market ceases its operations. !e country is in bankruptcy. !e citizens protest in front of parliament and man-age to get new elections that result in the resignation of the prime minister and his unsuccessful govern-ment. !e country is in a bad economic situation. A law proposes paying back debt to Great Britain and Holland through the payment of 3,500 million euros, which will be paid by the people of Iceland monthly during the next 15 years, with a 5.5% interest. In 2010, the people go out in the streets and demand a referen-dum. Later on the president denies the approval and announces a popular meeting. !e referendum and the denial of payment is voted in by 93%. Meanwhile, the government initiates an investigation to bring to justice those responsible for the crisis and many high level executives and bankers are arrested. An assem-bly is elected to rewrite a new constitution, which will include the lessons learned from this, substituting the previous one. 25 citizens with no political a#liation are chosen to rewrite the constitution.

All of the above unfolds in a peaceful way, via a “smooth” revolution.

!e curious case of Iceland

While most of Europe wallows in recession, Iceland is not only rapidly - and surprisingly - recovering,

but has a truly inspirational story of democracy and development to share with the world.

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OPINION

Opinion&!e Melting Pot

!e Melting Pot: Nicolas D. Sampson, Michalis Kontos, Marios Mavrides, Soula Kythreotou Zavou, Dr. Marios Valiantis, Yiannis Menelaou, Stavros A. Zenios, Stavros EvagorouOpinion: Archbishop Chrysostomos II

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Illustration: Christina OlympiouResearch: Maria Louvari

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INTERVIEW

Dr. William T. Ziemba

!e Mathematics of GamblingNothing to do with luck. Everything to do with Maths.

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OPINION

Interview

ARCHBISHOP CHRYSOSTOMOS II

!e hierarch who changed the ball game...

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BRIEF CASE

World

June 20121 JUNE NEW MEXICO MASSIVE WILDFIRES SPREAD IN NEW MEXICO –LARGEST IN THE STATE’S HISTORY

1 JUNE COLORADO A WILDFIRE BURNS ACROSS 60 SQUARE MILES IN THE COLORADO MOUNTAINS. THE FIRE DESTROYING MORE THAN 100 BUILDINGS AND HOUSES

2 JUNE EGYPTFORMER PRESIDENT OF EGYPT, MUBARAK SENTENCED TO LIFE IN PRISON

3 JUNE NIGERIAPLANE CRASH IN LAGOS KILLS MORE THAN 150 PEOPLE

5-6 JUNE THE CENTURY’S SECOND AND LAST SOLAR TRANSIT OF VENUS OCCURS

8 JUNE SYRIAUNITED NATIONS DECLARES CIVIL WAR IN SYRIA

9 JUNE CHINASHENZHOU, A CHINESE SPACECRAFT CARRYING THREE CHINESE ASTRONAUTS, INCLUDING THE FIRST!EVER FEMALE ONE, DOCKED MANUALLY WITH AN ORBITING MODULE TIANGONG 1, POSITIONING THEM AS THE THIRD COUNTRY, AFTER THE UNITED STATES AND RUSSIA, TO SUCCESSFULLY PERFORM THE MISSION

11 JUNE FRANCEMARIA SHARAPOVA AND RAFAEL NADAL WIN FRENCH OPEN

17 JUNE GREECEFORMATION OF A NEW GOVERNMENT IN GREECE

24 JUNE EGYPTMORSI DECLARED PRESIDENT OF EGYPT

July 20122 JULY SYRIAUNREST CONTINUES IN SYRIA AS SOLDIERS DEFECT

4 JULY SWITZERLAND PHYSICISTS FIND ELUSIVE KEY TO UNIVERSE PARTICLE ENDING WHAT HAS BECOME THE MOST EXPENSIVE AND LONGEST SEARCH IN SCIENCE, PHYSICISTS DISCOVER A NEW SUBATOMIC PARTICLE

5 JULY GERMANYAN EFFORT TO PREVENT FURTHER DETERIORATION OF THE EURO ZONE CRISIS, THE EUROPEAN CENTRAL BANK CUT ITS BENCHMARK RATE TO A RECORD LOW FROM 1 PERCENT TO 0.75 PERCENT

6 JULY USA ANOTHER WEAK MONTH FOR U.S. ECONOMY. ONLY 80,000 JOBS ARE ADDED TO THE U.S. ECONOMY IN JUNE. THE UNEMPLOYMENT RATE REMAINS AT 8.2, THE SAME AS THE MONTH BEFORE. THE BLEAK REPORT CAUSES THE DOW JONES INDUSTRIAL AVERAGE TO DROP 124 POINTS

6 JULY USAANOTHER WEAK MONTH FOR U.S. ECONOMY, ONLY 80,000 JOBS IS ADDED TO THE U.S. ECONOMY IN JUNE. THE UNEM!PLOYMENT RATE REMAINS AT 8.2, THE SAME AS THE MONTH BEFORE. THE BLEAK REPORT CAUSES THE DOW JONES INDUSTRIAL AVERAGE TO DROP 124 POINTS

7-8 JULY UKROGER FEDERER AND SERENA WILLIAMS RECLAIM WIMBLE!DON TITLES

7 JULY LIBYALIBYA HOLDS FIRST NATIONAL ELECTION SINCE QADDAFI

7 JULY RUSSIA DUE TO HEAVY FLOODS 140 DIE IN RUSSIA

8 JULY LIBYAEARLY ELECTION RESULTS SHOW A COALITION LED BY MAHMOUD JIBRIL AHEAD OF ISLAMIST PARTIES IN VOTES. JIBRIL’S COALITION’S LEAD IS A SIGN THAT LIBYA, UN!LIKE EGYPTAND TUNISIA, IS NOT TRENDING TOWARD ISLAMIST RULE

11 JULY SPAINSPANISH PRIME MINISTER MARIANO RAJOY ANNOUNCES MORE SWEEPING AUSTERITY MEASURES, INCLUDING A RISE IN VAT AND OTHER TAXES, INCREASES TO SPENDING CUTS AND SUSPENDING CHRISTMAS BONUSES FOR CIVIL SERVANTS. THE PLAN LEADS TO VIOLENT CLASHES WITH PROTESTERS IN THE STREETS

18 JULY SOUTH AFRICANELSON MANDELA CELEBRATES HIS 94TH BIRTHDAY

19 JULY INDIANEW PRESIDENT OF INDIA GETS ELECTED

Global DevelopmentsСобытия В Мире WRITER: Freda Yannitsas АВТОР: Фрида Яннитсас

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BRIEF CASE

In the Spotlight

Panicos O. DemetriadesPanicos Demetriades was appointed by the President of the Republic of Cyprus as the new Governor and Chairman of CBC from 3 May 2012. He "rst drew a lot of public attention in 2011  with  his suggestion that Ger-many should re-adopt the mark currency to help weaker Eurozone members. He argued that euro’s strength, as a result of its link to the German economy, was an impediment to growth elsewhere else in the bloc. Today, he overtakes the economy in an extremely unstable situation. Having also to oversee the recapitali-sation of the island’s, heavily exposed, largest banks.

He holds a B.A. in Economics University of Essex, a M.A. degree in Econom-ics University of Essex, and a Ph.D in Economics, University of Cambridge. He started his career right here at the CBC in 1985. His professional path includes an academic career - he was a Reader in Economics in Keele, Professor of Financial Economics, South Bank University, London, Professor of Financial Economics, University of Leicester – as well as other important posts and a#liations: he was a General Editor, $e Cyprus Journal of Economics, Consultant, Co-operative Central Bank of Cyprus, Consultant, World Bank, Consultant, Oxford Economic Forecasting, Consultant, World Bank (O#ce of the Chief Economist, Joseph Stiglitz), head of Economics Department, University of Leicester.

Паникос О. Димитриадис.3 мая 2012 года Президент Республики Кипр назначил управляющим и пред-седателем правления Центрального банка Кипра Паникоса О. Димитриадиса.

Впервые он привлек всеобщее внимание в 2011 году, предложив восстано-вить марку как национальную валюту Германии для того, чтобы помочь более слабым членам Еврозоны. Он доказывал, что сильное евро, зависимое от не-мецкой экономики, препятствовало росту какой-либо другой страны блока. Сегодня он занимается экономикой, находящейся в крайне нестабильном по-ложении. Также он назначен ответственным за проведение рекапитализации крупнейших банков острова, сильно пострадавших во время кризиса.

Паникос О. Димитриадис имеет степень бакалавра и магистра экономики университета Эссекса, степень доктора экономических наук Кембриджского университета. Свою карьеру он начал в 1985 году также в Ценральном Банке Кипра. Его профессионализм подкрепился академической карьерой: он пре-подавал экономику в Киле, являлся профессором финансовой экономики в университете Лейчестера и в Лондонском университете South Bank University.

Необходимо заметить, что Паникос О. Димитриадис работал также глав-ным редактором Кипрского экономического журнала, консультантом Коо-перативного Центрального банка Кипра, консультантом Всемирного Банка, консультанта Оксфордского Института экономического прогнозирования, консультантом Всемирного Банка (офис главного экономиста Джозефа Шти-глица) и заведующим кафедры экономики Университета Лейчестера.

Cypriots in the

spotlightКиприоты

в СМИ WRITER: Maria Louvari

АВТОР: Мария Лувари

M E D I A K I T 2 0 1 3L E G ACY

VISION!e main objectives of this publication are to create a media platform of innovative character, which will be raising important economic, political and social issues.

"e magazine aims to provide a broader picture and a deeper insight, through the questioning of issues, which have not previously been tackled in an e#ective way. Furthermore, it aims to promote freedom of expression and correct business practices, inspire leadership and innovation, and promote corporate social responsibility and sustainable development.

CONTENT IDENTITYLEGACY aims to create an international information platform for successful market players who are willing to air their views and expertise, in response to various business and political scenarios.

Furthermore, LEGACY serves to act as a contemporary mouthpiece for the foremost social and political thought platforms, by providing an independent forum for political, economic and social discourses.

"e content includes exclusive and in-depth reportages, expert opinions on signi!cant issues, interviews with leaders, analysts and inspirational personas, who will be sharing their views, stories, predictions and ratings. It o#ers brie!ng on the latest major economic, political and social development, the business deals, on new projects, investment and corporate social responsibility opportunities.

READERSHIPDue to the main regional readership response and for international business purposes, LEGACY is written in the English and Russian languages. The publication is primarily addressed to business people, politicians, local and foreign investors, entrepreneurs, high-net worth individuals, executives, as well as to any individual interested in social, economic,business and political scenarios and strategies both locally and globally.

M E D I A K I T 2 0 1 3L E G ACY

DISTRIBUTIONLEGACY is a luxurious, free press, intelligence and development publication with highly targeted demographics designed to reach the high - end local and international market. "e publication has the unique stature of having a quali!ed paid audited circulation in the business industry. "is ensures that the speci!c demographics are guaranteed to be reached by the publication’s targeted circulation.

"e publication is primarily addressed to business people, politicians, local and foreign investors, entrepreneurs, high-net worth individuals, executives, as well as to any individual interested in social, economic,business and political scenarios and strategies both locally and globally.

"rough a research driven, «benchmark» system of circulation and carefully created network distribution concept, it aims to achieve and maintain the largest market share in the intelligence and development publications industry and to be recognized as the most credible advertising market source of the business and !nancial products and services industry.

M E D I A K I T 2 0 1 3L E G ACY

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