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Old 16-03-2013, 23:26   #1000
Sirius
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Join Date: Jul 2007
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Re: Eurozone will collapse...

Quote:
Originally Posted by gooner4life View Post
The thing is before joining the EU The Cypriot economy was fantastic - The CY Pound was almost twice as valuable as Sterling - how they managed to screw up so bad i'll never know.
I think you will find they were dragged in to the Greek issue

Quote:
Cyprus is the fifth country after Greece, the Republic of Ireland, Portugal and Spain to turn to the eurozone for financial help during the region's debt crisis.
The country has been in financial difficulties since the collapse of the Greek economy, where Cypriot banks had huge investments.
It appears that the heavy presence of Russian money in Cypriot banks was a factor in imposing the levy.
http://www.bbc.co.uk/news/world-europe-21814325
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