Cyprus Bailout | South’s FM Fails to Get Russian Financial Support

Cyprus Bailout | South’s FM Fails to Get Russian Financial Support

Michalis Sarris, the south’s Finance Minister, said that Russia would not offer a new loan but that potential business deals were still being explored.

“The Russian government will not contribute with a new loan because something like this, as you understand, is not viable for our debt.”

So, no cash but Russian business interests may make an offer for anything the south wants to sell off cheap. To me, this looks like the unconfirmed rumours of vast reserves of gas that are off Cyprus’s shores in the Aphrodite field. Gas that Turkey is insisting belongs to ALL Cypriots and that cannot be given away without Turkish Cypriot co-operation, that is if there is enough gas to make exploration viable.

Now, what would you offer for that?

[Editor’s Note: It has now been confirmed that “investors said they weren’t interested in the country’s offshore gas reserves. It means Cypriot Finance Minister Michael Sarris will fly home empty-handed after two days of crisis talks in Moscow.”]

Print Friendly, PDF & Email

Comments are closed.