Following the extra ordinary decision to bail in the unsecured depositors and restructure the two main banks and the near complete destruction of the country's economic business model as an International Financial Centre, the author considers the real causes of the problems facing the Cyprus...

Given the huge private debt in Cyprus, the risk of a recession is very high because of the compelling need for households and corporations to repair their balance sheets. The Central Bank now admits that it may take 10 years to tackle the huge non-performing loans problem. What they do not...

Economic policy in Cyprus completely ignores the fact the problem to overcome is the enormous, and almost unprecedented, private debt burdening the economy. The Government seems to be complacent in serving the narrowly defined needs of the few remaining systemic banks in Cyprus. It presents the...

The author has written two articles on the subject of “the Deal” sought and negotiated by the Government for privatising the ailing Co-Op Bank in Cyprus. In this paper he continues with “Socialising the losses and privatising the gains - Part 3” which provides an alternative proposal...

In May 2, the author wrote an article with the title “Socialising the Losses and Privatising the Gains” where private sector indebtedness in Cyprus is addressed as the main economic problem impeding sustainable development to take place. However, the Government and the banks in Cyprus...

The authors discuss the role of private debt in financial crises and attempt to apply the debt deflation logic to the data and facts surrounding the post bail-in years in Cyprus. It is found that the financial crisis in Cyprus was indeed predictable and that a key problem facing the country...

If there is one single pattern emerging from the six years or so of the rule of Anastasiades as President of Cyprus it is one of deception and unkept promises. A number of examples of such dubious form of behavior adversely impacting the economy are cited. Unfortunately, the ruling party proved...

Through this paper the author discusses the phenomenon of excessive Government borrowing and the factors that lead Governments to be so dependent on financial markets. It is argued that the combined effect of unregulated financial intermediaries, hedge funds and Credit Rating Agencies in...