High prices in Cyprus
The high prices in Cyprus are linked to the artificially high exchange rate between the Cyprus pound and the Euro.
When we joined the European Monetary Union, the exchange rate was fixed at 1.7 pounds to the euro. All prices were then adjusted accordingly. That was then.
Now, there is a world-wide recession that has hit markets around the world...but in Cyprus, the exchange rate has remained fixed. This has kept prices of consumer and food goods very high relative to their equivalents in Europe.
In Europe, for example, the price of milk has plummeted, while in Cyprus, it has stayed so high that people are considering embargoing the milk producers.
It is high time the government reconsidered the exchange rate policy and took reality into consideration. How about a study to establish fair prices that are in line with the rest of Europe? What did we join the EU for - better standard of living, more choices, and better prices.