The Tate Group Predict Crisis in Cyprus

For many months now our Editiorial team have been tracking the continuing finanical crisis within Europe. Whilst focus of world media comes and goes we continue to keep our readership informed of economic outlook within the UK’s largest training parnter. Here is an extract from the March 2013 edition of Tate’s International Trade Briefing….

‘The question of whether or not to give Cyprus a bailout remains unsettled. The sum required might be as much as 17,500m euros, small relative
to those in previous bailouts but relatively much
bigger. More than half of it would be used to
recapitalise banks, and that is comparable to what
happened in Ireland in 2009. But Cyprus is seen
as a major centre for money laundering, so the
argument against a bailout includes the desire to
force losses on uninsured depositors in Cypriot
banks and investors in Cypriot government bonds.
If the bailout were refused for that reason there
might be runs on banks in Portugal and Spain
because depositors would fear that their money
was not safe.’

The Tate Group’s International Trade Briefing, which accompanies all subscriptions toTate’s Export Guide publication. For more details in regards to International Trade please visit our website at or call us on 01908 510216

Sectors: Financial & Professional Services
Countries: Cyprus
Topics: Insights & Statistics
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