Cyprus Bailout:Another Greece in making
Cyprus is an island country in the Eastern Mediterranean Sea. Cyprus
is the third largest island in the Mediterranean Sea, and a member state
of the European Union. With talk of another bailout to Cyprus has
caused jitters in world financial market when most of them were trading
at new highs. Let me explain why this small EU member has caused all
world markets to tumble.
1. What happened in Cyprus last week?
It all started from 2008 Financial crisis, Greece Economy collapsed, EU gave 3 Bailouts to Greece . The prices for the bailouts were high: austerity policies that didn’t work. The result everywhere is that national income has fallen steeply, while the countries fall further into debt.Cyprus banks got into trouble from their exposure to neighboring Greece. FM of Euro nation,IMF and ECB came with a plan to bailout Cyprus but this time the bailout conditions were little harsh:
In exchange for..
Continue Reading
1. What happened in Cyprus last week?
It all started from 2008 Financial crisis, Greece Economy collapsed, EU gave 3 Bailouts to Greece . The prices for the bailouts were high: austerity policies that didn’t work. The result everywhere is that national income has fallen steeply, while the countries fall further into debt.Cyprus banks got into trouble from their exposure to neighboring Greece. FM of Euro nation,IMF and ECB came with a plan to bailout Cyprus but this time the bailout conditions were little harsh:
In exchange for..
Continue Reading
posted by Bramesh at
4:14 PM
0 Comments:
Post a Comment
Note: Only a member of this blog may post a comment.
Subscribe to Post Comments [Atom]
<< Home