That Was Quick! Cyprus Exits Bailout with Cash to Spare

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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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam