Cyprus Achieves Largest Debt Reduction in Eurozone

by THEFUTURE.TEAM

October 23, 2024

Cyprus made significant strides in reducing its government debt, with the debt-to-GDP ratio falling to 70.5% by the end of the second quarter of 2024, according to Eurostat. This represents the largest decrease in the eurozone, with a 2.1% drop from Q1 2024 and a notable 10% reduction from Q2 2023.

In contrast, both the eurozone and the EU saw slight increases in their debt-to-GDP ratios. The eurozone’s ratio increased to 88.1% (up from 87.8% in Q1 2024), and the EU’s rose to 81.5% (up from 81.3%).

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Despite Cyprus’ success, some countries continue to struggle with high debt levels. Greece and Italy recorded the highest ratios at 163.6% and 137.0%, respectively. Meanwhile, Bulgaria and Estonia maintained the lowest ratios at 22.1% and 23.8%.

The eurozone’s government debt is largely composed of debt securities, accounting for 84% of the total, while intergovernmental lending made up 1.5% of GDP.

Cyprus’ impressive debt reduction stands in contrast to the increases seen in countries such as Finland and Austria, demonstrating the country’s effective fiscal management amid global economic pressures.

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X Bets On A Better Video Editor To Lure Original Creators And Reduce Recycled Content

by THEFUTURE.TEAM

July 8, 2026

X is rolling out new video editing and recording tools for its iOS app as the platform seeks to encourage more original content and strengthen its creator ecosystem.

A Push Toward Original Video

The update introduces several features aimed at helping creators produce and edit videos directly within the app. New tools include multilingual caption overlays with customizable styles and green-screen effects that can use photos from a user’s camera roll or other posts on X.

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“One of our biggest priorities is to give creators the tools to create original content [and] reward those creators,” X Head of Product Nikita Bier wrote in a post on the platform.

“We have plenty more updates coming to the video editor in the coming weeks,” he added.

Encouraging Native Content

According to Bier, the goal is to make it easier for creators to publish original videos on X rather than reposting content from other platforms.

Video has become an increasingly important part of X’s strategy. Bier said posts containing video already account for nearly half of all impressions on the platform, investing in creator tools a key priority.

Competition For Creators Intensifies

The launch comes as major social media platforms compete to attract and retain creators through editing tools, audience reach and monetisation programmes.

While X already offers creator revenue sharing, it faces competition from platforms such as YouTube, TikTok and Meta, all of which provide more mature creator ecosystems and established content management tools.

Meta, for example, allows Reels creators to report unauthorised reposts and add attribution to eligible content, while YouTube has long relied on automated systems to identify copyrighted uploads.

Spam And Bots Remain A Challenge

The new editing tools also arrive as X continues its broader efforts to combat spam and automated accounts. Earlier this year, Bier said the company was detecting and suspending around 208 bots per minute, adding that a significant share of the product team remained focused on anti-spam development.

The challenge extends beyond X. Reddit has introduced AI-powered tools to combat increasingly sophisticated spam, while Digg shut down its app earlier this year after citing the growing difficulty of managing automated content.

For now, X’s new video editor and recorder are available only on iOS, while the Android version remains under development.

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