Cyprus: No Hope in Sight Yet

People ♦ Published: March 20, 2013; 21:38 ♦ (Vindobona)

It is still uncertain if an agreement with Russia about the sale of gas fields can be found. President of the EU commission has joined the talks in Moscow.

Every day since the banks closed at the end of last week, the axiety and frustration of the Cyprian citizens rise, as does the insecurity of investors. The economy is almost paralyzed and there is a risk of bank runs as soon as the banking institutes will be opened again. The situation in Cyprus remains on edge as there has not been any hope in sight so far. According to a statement…

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