Cyprus’ €10 Billion Bailout Deal Will Be Tough but Recovery is Possible
March 26, 2013
Guillaume Xavier-Bender, program officer in GMF’s Brussels office, sits down with Sir Michael Leigh, GMF’s senior advisor in Brussels, to discuss the Eurogroup’s rescue package for Cyprus, including a €10 billion loan along with guidance and supervision of the Cypriot economy. The rescue package, Sir Michael Leigh says will lead the country toward a path of reconstruction, stability and eventually growth, however not before a period of hardship. He concludes that the resilience and the entrepreneurial nature of the Cypriot people will allow for a more viable economic model for the country’s future.
Read Sir Michael Leigh's Transatlantic Take: Cyprus Bailout and Israel-Turkey Détente Present New Opportunities.



