Cyprus News | Cyprus Worse Than Greece – ‘Could Leave Eurozone’


Cyprus News – Mr Christopher T Mahoney a former Vice President of Moody’s is making a very pessimistic prediction about Cyprus’s continued membership of the Euro zone.

In this hard hitting article in the popular English language newspaper Cyprus Mail, Mr Mahoney predicts that Cyprus could be the first country to exit the Euro zone and goes on to say that both politically and financially they are in a worse state than Greece. He reasons that the very size of this country makes it more likely that they will exit.

Of course this is an opinion and not a fact, but should it become a fact, where would that leave Cyprus and more importantly from their point of view, how would this impact upon north Cyprus?

That the south of the island is in a very precarious financial position can no longer be denied, the unknown factor is how bad is the situation in the north? We read statements, from those who should know, that the economy is not so bad and people are not hungry in the north. How much of that is due to enormous amounts of money injected into north Cyprus by Turkey? If the tap were turned off tomorrow, that would happen to north Cyprus?

In fact is the future of the whole island at stake?

Source: Cyprus Mail

O B Joyful

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