Briefing: Cyprus saved from drowning

25 March 2013
Presseurop

With Cyprus, the euro crisis has claimed its fifth victim: after Ireland, Portugal Greece and Spain, it is the Mediterranean island's turn to request a bailout from the troika of international funding agencies (EU, ECB and IMF). To avoid watching its financial institutions sink beneath the waves, Cyprus has been obliged to accept a far-reaching overhaul of its banking system and will likely have to bid farewell to its status as a tax haven, with apologies to the rich Russians who have deposited their fortunes in the country.

Related

Cyprus We are not Europe’s fools

O Phileleftheros, Nicosia

Cyprus Now is the time for action

O Phileleftheros, Nicosia

Cyprus A bailout, quick!

Cyprus Mail , Nicosia

Cyprus ‘The €9.2bn heist’

O Phileleftheros, Nicosia