By Alexander Apostolides on July 19, 2011

A fuss over the 3 bn number. It is a valid and worthwhile estimation, but we need to understand what it is.

An explanation of the 3 bn cost of Vasiliko.

There has been a good load of fuss over the number 2.9/3.1 bn. euro of my 2nd and 1st estimate respectively. I must re-iterate that this number is the reduction of Wealth Of Cyprus. What is the difference between reduction of wealth: this combines the loss of capital stock like Vasiliko in addition is showing losses of income.

In an odd way if only the losses of income where estimated first, people might have been puzzled why repairing Vasiliko would be positive for the income of the economy.
For economists, I will provide today a cost and benefit analysis in terms of GDP.

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