Is Cyprus Next On The Bailout Train?
Greece gets it. Now Ireland gets it. Spain just got it. And now Cyprus is getting it. The 'it' being the desperate need by the core to hold the 'status quo' together implies much more strategic negotiating power for the periphery than anyone would want investors to know. As Greece's Syriza leader Alexis Tsipras has been saying from before the Greek election, this is a pan-European problem and renegotiating part or all of the bailout terms is far more open. As Bloomberg reports this morning, Cyprus' FinMin Vassis Chiarly said the nation should not be 'demonized' if it takes the choice of a bailout:
- *SHIARLY: CYPRUS HASN'T RULED OUT EU BAILOUT OR THIRD PARTY LOAN
Confirming the constant ability of Europe's nation to state the obvious and understate the reality, Shiearly added, "the situation isn't as bas as presented by some" and do not wory Cypriots as 'it would be able to secure positive terms if it resorted to a bailout'.