Cyprus
© Photo: Peter Nicou for The Voice of Russia
Cyprus has no other way out of the crisis than to free itself from the conditions that the “three” of its creditors are imposing upon it, the head of Cyprus’s parliament Yiannakis Omirou believes.
On Saturday, Cyprus’s Central Bank announced about a
package of measures for reorganization of the country’s leading credit
organizations. This may cause holders of bank accounts – both
individuals and business companies – lose up to 60% of their assets. The
country’s second largest People’s Bank may close.
For
Cyprus, this may mean a sharp increase of recession, increase of
unemployment and impoverishment of the population, Mr. Omirou believes.
He says that Cyprus may have a prosperous economy only if it ceases to be a part of the pan-European economic mechanism.
Voice of Russia, TASS
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