The situation in Cyprus and with the Eurozone has lead to many articles about these issues. Some of the most helpful, and interesting, that I have found examine the crisis and attempt to predict what these outcomes could mean for those in the Eurozone.
On the 28th of March Cyprus agreed to a bailout. To further understand this bailout and what it truly means for Cyprus, BBC posted a Q&A on the deal and what went wrong.
"When Greece became engulfed in crisis in 2010, Cypriot banks were hit hard, and the government did not have the money to bail them out itself. Government finances have been further weakened by slow economic growth and international lenders have stopped offering loans."
When examining this crisis, many were simply thinking about the economics, but what might this crisis mean for the divisions in Cyprus?
"Chris Morris asks if the Cyprus crisis could be an opportunity to heal the division between the island's Greek Cypriots and the Turkish Cypriots"
This is a very interesting take on the economic turmoil, and definitely worth studying. The article concludes with this statement, ""As long as we're divided," Mr Aksoy says ruefully, "we will continue to have economic trouble.""
It is clear that Cyprus is entering a new era, but do you think that these new economics will truly inspire a reconciliation between the divided in Cyprus?
This is very interesting take on the economic issues in Cyprus. I have known for quite some while that there have been clear divides within the population of cyprus between the Greek Cypriots and the Turkish Cypriots but I had not really understood how much this played into the economic situation. It is understandable that countries that are divided among ethnic lines are more likely to have economic instability and this will be very interesting to see if they can reconcile and promote economic stability. I'm not sure If I completely agree that this is the problem since Cyprus has done relatively well in the past despite these divides among Greeks and Turks but It will be interesting to see if it takes a major role in the stabilization of their banks.
ReplyDeleteAlthough I think it's a smart move, I do not believe it is a major step towards cultural reconciliation between the Greek and Turkish populations. Perhaps it might provide a greater sense of economic unity, but cultural differences and grudges die hard.
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