Cyprus crisis

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Cyprus lose-lose plight

So long stiff capital control measures are in place the economy will enter into a free-fall. But as soon as they are lifted, the run on accounts might likely lead to a banking collapse.

Cyprus crisis too big to handle for Mr Schäuble

NICOSIA | By  | After the failure of the EU’s €10bn Cyprus rescue plan, the German Minister of Finance has questioned the island’s low tax regime. However, a well known journalist argues that following the 1974 Turkish invasion, Nicosia had no option but to offer tax breaks.

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Charts we know of the Cyprus crisis

By 2017 the two largest Cypriot banks–Bank of Cyprus and Cyprus Popular–face debt repayments of €11 billion or 86 percent of the whole economy’s output.