Become obvious that the small country relied on its fine it Financial Sector to much, and toxic loans and bad speculation eventually tipped to the banks over the edge, so now cypress wants to be bailed out by europe. In return, International Lenders want cyprus to introduce reforms and strict austerity measures. These would involve job losses and pay cuts, which is bad news for many cypriots who are already struggling to pay their bills. A decade ago, this dancer and musician was a star in cyprus, performing in clubs or appearing on television every night. Women were at his feet. They called him the palomino of nicosia the ballerino of nicosia. Now he and his wife sit at home with their son. The family have debts they cannot repay. They have three loans adding up to more than 300,000 euros in total. It was so easy to get credit. No questions asked. They just gave us something to sign, and we did not read the small print. If you do not have a regular income and cannot make the payments and you are two or three months behind, then you have to pay a late fee. The apartment has and 85,000 euro mortgage, and we pay up to 200 euros a month just to cover the interest. They are not alone. Cyprus has the highest level of private Household Debt in the entire eurozone. When the supreme economy was booming and everyone had jobs, private individuals borrowed some 20 billion euros from banks to buy cars and set up businesses, but this crisis has left many unable to pay back their loans. I cannot pay my debt because no customers are coming to my shop, and in addition to the credit, i have to pay rent and wages. My loan is 1 5 of my salary, which means it is a balanced loan by the government. I need to pay 30,000 pounds each year so my son can study in england. I borrow money to cover it. The mortgage i pay with my pension. Luckily, my wife also has a pension. If they want to cut, they should start with the people at the top, or is there another place where the president gets 320,000 euros as a going away present . The cypriots are not just angry about selfserving politicians. They have also discovered that the head of the countrys central bank, who has since been fired, approved a 500,000 euro loan for himself at nearly no interest. For the eu, the imf, and the European Central bank, which have lone cypress billions of years, it is clear the waste and corruption in the country must end which have loaned cypress billions of euros. The troika is also calling for more regulation of credit policies. They say the banks lord separate into taking out dodgy loans. One of the factors that contributed to this excess of liquidity in the separate Banking Sector is the attraction of foreign deposits. At this point in time, the total amount of foreign deposits is more than 21 billion euros, more than gdp. Most of the money came from russian investors. Tens of thousands of them have made cypress their second home. In germanys federal Intelligence Service, a to says most of their accounts contain laundered money. The cypriot government denies that. Now the country is hoping newly discovered gas reserves off the coast will help pay back credit from the eu in a relatively short time. The first contract with Energy Companies have been signed. While billions are being spent to bail out the banks, many indebted families feel they have been abandoned. Seven months ago, we applied for social welfare relief. We have not had an answer yet. Antonin solaris as a bit of money driving a taxi. He says the streets are becoming more and more empty. Most people do not shop or go out anymore. He sees only occasional demonstrations against austerity measures. He says he wishes he could turn back the clock sometimes. I should not have taken out so many loans, and i should have been more careful with my money. I tell youngsters like my son to watch how they spend their money. They are going to have it tough. They have to learn that they cannot have everything they want. Low taxes, cheap credit, and illthought and russian gains boosted the islands economy for a number of years. Now tens of thousands of indebted separates are on the brink of ruin, like the ballerino of nicosia. The separate president has blamed expose banks for his country having to accept painful bailout terms. He said an investigation into how a separate banks behaved during the crisis, such as purchasing highrisk greek bonds, should be vigorously pursued and the culprits punished. Greece, meanwhile, is still struggling to get back on its feet financially. The country would desperately like to have more tax revenues, but it is not enough to just raise taxes for private households. Companies would also need to pay their fair share, and there are Greek Companies which are still doing well despite the financial crisis. But not all are willing to foot the bill for others. That is why some companies are relocating to switzerland, for instance. 66yearold george moved to switzerland 20 years ago to set up a Software Company in geneva. He made over 200 Million Euros. Now, many of his fellow greeks are looking to follow in his footsteps, and he can see why not only does he love the beautiful swiss countryside and the countrys efficiency, he also appreciates its low rate of taxation. It is not illegal, but morally unacceptable that in some comfort countries, you have to pay 50 tax. Anybody who wants to have a good quality life i find it proper no more. It has to do with tax. Tax regulation is especially business friendly, which is why thousands of businesses are headquartered, at least on paper, here. A growing number of greek businesses are here as well. Christoph knows why. He has just helped a company set up business. In switzerland, the Corporate Tax rate is just 5 , compared to 20 in greece. He shows colleagues how he said it up. Tax breaks are one of several factors that make switzerland highly attractive to businesses. If you base your business here, you are in good company, international company. There is a host of International Skilled workers here waiting to be hired. Of course, there are attractive tax conditions ranging from low tax rates to tax authorities that are willing and able to understand how business works. Businesses like cocacola hellenic, a Major Company that recently relocated its headquarters to this unassuming looking office block, a move that will cause the cost the greek state 60 Million Euros a year, but is the Company Really based here . We set off to find out. In the lobby, we tell the receptionist that we are looking for the official headquarters of cocacola hellenic. Little information is forthcoming. That is correct, but i am afraid that is all i can tell you at the moment. All it takes is a registered address, and the company forgoes pretax revenue was millions. Cocacola hellenic is not a one off. A major greek the producer, a snack producer, and numerous other companies are allegedly also considering a move to switzerland. Nicholas and his Business Partner have a lot on their plate. Several Greek Companies have made inquiries at the swiss Greek Chamber of economics, including three listed on stock exchange. He can understand why they are anxious to get out of greece. Greece is in a bad way right now because the state is imposing ever more taxes on companies. They are being milked for all they are worth. Some of them have had enough and are taking their business elsewhere. This Financial Adviser agrees. These days, he is working with a growing number of wealthy clients from greece. I have observed an increase in demand on the part of private clients from greece clients worth up to 5 Million Euros. We are confident that this demand will continue. The stakes are high, and switzerland is cleaning up, but even in switzerland, not everyone approves of what is going on. According to one suisse think tank, every year, the country takes about 30 billion euros in tax revenue from foreign companies. When it comes to taxation, everyone should be treated equally. It is not acceptable for switzerland to cherry pick and take liberties at the cost of others. Needless to say, this multi millionaire has a different opinion, but he is concerned about the exodus of businesses from greece. The people who leave first are the people who are capable. They know where they are going to go. They are going to find another job. For a country, it is the same thing. Once you start losing that intellect. His solution is simple enough turn greece and to a tax haven based on the swiss model, but for the time being, there are not many people who agree. In most european countries, there is strict separation between matters of the state and religion at least officially but in some parts of the world like saudi arabia, the state is governed in accordance to religious principles. The countrys laws are based on wahhabi is long, the particularly strict interpretation of the muslim faith wahhabi islam. \ women, for instance, how far fewer rights than men. Campaigners have accused saudi arabia of violating human rights. Now, controversies have erupted in kosovo where the automation has invested millions in building mosques. Even moderate muslims are worried at these developments. Than a religious dignitaries from the world over are gathered for the dedication ceremony of the International Center for into religious and intercultural dialogue. The three founding nations saudi arabia, spain, and austria were represented by their foreign ministers. Among the 600 guests was the United Nations secretary general. The saudi government provided some 15 Million Euros in funding for the Dialogue Center for the first three years. We are most grateful to his majesty for his farsighted decision to launch this important and timely initiative. Austria is greatly honored at the center is established. A outside the palace, greens and liberal muslim protesters point out that even as saudi arabia promotes religious dialogue in vienna, and to commit human rights abuses at home. It is a shame and a disgrace for austria and spain to have provided the saudis a center like this as a platform for their views in europe and all the world. The center is headquartered in this palace in vienna. Representatives of all the World Religions are invited to come here and engage in constructive dialogue. Critics are predicting endless rounds of unproductive chatter and worry that saudi arabia could indeed use the center to gain a foothold in europe for its watch how the state religion, an ultrastrict form of islam for its wahhabi state religion. There was major support from all over the world, but let the critics, we will need dialogue. The capital of kosovo the economy is on the skids and many young people are out of work. 90 are sunni muslim who practice in moderate form of islam that grew out of albania and folk tradition and centuries of ottoman turkish domination, but things are changing. This reporter goes to the center for Investigative Journalism to followup on police tips that islamic extremism is spreading in kosovo. The central fact is that there are organized groups in kosovo promoting extremism. State agencies believe they may get financing from dubious sources. There are organizations active here in kosovo that are on lists of suspicious groups in other countries, and whose offices have been closed by the police. Some of them are on the usas list of terrorist groups. Saudi arabia is also funding new mosques, but moderate pmuslims have halted constructin of a mosque in a village in northwestern kosovo for fear that radical islamists could use it for headquarters. In the nearby district capital, many local people come to hear the sermons of the moderate leading imam. He was also chairman of the towns Islamic Community until he was dismissed by kosovos grand mufti. He had opposed the use of saudi funding for the construction of the mosque. There are tendencies and efforts under way to expand its network of fundamentalist believers in the extremist wahhabi ideology. The Islamic Community must be far more vigilant than it is now. The e mom is highly respected by his own congregation for, among other things, his critical stance the imam. He is not alone. Others have publicly warned against wahhabi extremism and suffered consequences for their courage. They waited for the right moment to attack me and beat me up. They thought i would keep silent, but to their surprise, i went to the public and warned against the radical wahhabis. These extremists are trying to take over the mosques. Once that is achieved, they plan to go even further and maybe even take over the government. Kosovos government has assigned its police and Intelligence Service to track the activities of radical muslims. In the capital, kosovos grand with the response to the criticisms of his imams. If there are people youre committing injustice and indoctrinating in the name of islam, we must fight them with all the means in our power and prevent them from selling the seeds of evil in kosovo where our almighty god created us and where we live. Construction of a large mosque on this lot is planned to begin in spring 2013. The grand mufti has called for the nations donations. It is not yet clear if some of that funding will come from saudi arabia. Britain has been rocked in recent months by revelations that one of the countrys biggest idols, the late jimmy settle, is believed to have sexually abused children for six decades the late jimmy seville. It has raised questions about how this went undetected for so long and who is responsible for covering up for him. This is but the spotlight on the issue of unchecked sexual abuse in institutions such as care homes, and schools and churches across britain, and it has prompted other victims to step forward with claims that they, too, were abused. The flashbacks start when Keith Gregory sees as. He hears the screams and deals the blows, suffering again. He wanted to tell the authorities when he was a resident there at the age of 12. A Police Officer came to the home and spoke to him in a room with staff. He stared at me, this Police Officer said, i believe you want to tell me something. Then i knew i just could not say anything. I just stood in that room, and it all just made fun of me, really. Pathetic little boy. Things like that. Later, they believed his allegations of abuse, but they did not buy the story that police and politicians took part in what was going on. Gregory now hopes an investigation will uncover the truth about what happened because many old cases are being reviewed. The seville scandal has triggered many probes. He presented a popular british program and is and is said to have exploited his popular do gooder image to have abused youngsters. He had access to a Childrens Hospital day and night. It was like bowling and scraping to him as if he were some kind of god. He was a deejay. What was he doing completely free in a top security Mental Hospital . He was a powerful man who donated generously to the hospitals to which he was given free access. Now new allegations are coming in daily. The hot line funs just keep on reading. Disorganizations as they have spoken with 2000 people. Many said they are finally being taken seriously. There has been a big change in attitude, certainly in the police, and the police have a knowledge that mistakes were made in the past. Sometimes people came with evidence, and they were not taken very seriously. Police are investigating. Nearly every week, officers searched the homes of new people who have been named in connection with the case. They can barely keep up with tips from 450 alleged victims. Keith gregorys case is now being reopened. He and other children from whales are telling their story. They say there was a pedophile ring in the hospital in the 1970s. The of users covered for each other as well as during the waterhouse inquiry in 1996. I told them, and they just said, you must stick to the names of the staff on the list. These people would come in here and stay in here. They just did not want to know. The threeyear inquiry concluded there was widespread use in 40 childrens homes. It also said there was no policy to stop it, nor was there staff monitoring or opportunity for the children to file complaints. It also found there was a pedophile ring operating but on a smaller scale than alleged. When men defended Staff Members and said reopening the case is a waste of time. There is no dna, no signs, no witnesses. The jury in essence is being told two different stories one by the accuser, one by the defendant. He says the greater risk is that innocent people will suffer due to a mediadriven which hon. What in effect you may be helping here is trial by media or trial by twitter, which is really the rule of the mob. One such case has already emerged. The bbc broadcast one survivor alleging abuse by a prominent conservative politician without naming names, but the details were enough to clearly identify a top adviser in the thatcher government. Broadcasters failed to check his side of the story. The allegations prove false. It was a great journalistic mistake. The bbc responded immediately by retracting the allegations. The bbc directorgeneral resigned. But Keith Gregory says this is a search for justice, not a witch hunt. I do not want to chase people down and things. I just want it done professionally and properly and get the ones that are guilty. If they can prove charges and bring charges. That is all. His evidence is a list of more than 30 names. He has given it to the police in hopes he will finally get some closure on what happened to him. That is all we have time here for on european journal. Join us next week at the same time if he can. Until then, thanks very much for watching. Bye for now. Captioned by the National Captioning Institute www. Ncicap. Org