Cyprus Mail
Business

Cyprus sees both risks and opportunities in a Grexit

By Stelios Orphanides

Cyprus and other euro area governments have not yet discussed collective action to manage a Greece’s withdrawal from the euro area, also known as Grexit, as the very word remains a taboo, a finance ministry official said, adding that Central Bank of Cyprus had already taken steps to prevent a spillover.

“There is not much we can do,” to protect against a Grexit, the finance ministry official who was not authorised to discuss the matter said on condition of anonymity. “The issue is limited to the subsidiaries of Greek banks in Cyprus. It is not a responsibility of the finance ministry but of the ECB and Central Bank of Cyprus. Precautionary measures have been taken and therefore no particular problems should be expected “in ensuring they remain liquid”.


Related posts

WOW BURGERS LTD (Burger King® Cyprus)

.

New company registration down in first 11 months

Shop owners complain about government supporting Larnaca Mall

Peter Michael

European shares near record high after Johnson’s UK landslide

Reuters News Service

How to cheaply transfer business from the British Virgin Islands?

.

MP calls on colleagues for action over NPLs

Elias Hazou