This paper explores the dominant role of politics in decisions made by euro area governments during the crisis …. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are … costs across the euro area. The example of Cyprus is discussed, where political decisions resulted in a transfer of about …

This paper explores the dominant role of politics in decisions made by euro area governments during the crisis …. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are … costs across the euro area. The example of Cyprus is discussed, where political decisions resulted in a transfer of about …

This paper reviews developments in the Cypriot economy following the introduction of the euro on 1 January 2008 and … of a communist government in February 2008, within two months of the introduction of the euro, and its subsequent choices … of the euro area crisis in the summer and fall of 2011, these events weakened the banking system which was vulnerable due …