It doesn’t seem too long ago that Europe looked on in despair as yet another country appeared on the brink of collapse. Back in 2013 panic spread through Cyprus financial system as government bonds were downgraded to junk status and long queues formed outside cash machines as the country failed to make ends meet.
Fast forward to March 2016 via a rescue package program, raft of reforms and austerity measures and the country is exiting its three-year, 10 billion euro financial aid package as one of the more robust euro zone economies. It has also been given a big pat on the back by creditors.
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