Opinion – Cyprus lauded on exit from €10bn bailout – FT.com – John Gelmini

Map of Cyprus showing Greek Cypriot Part of th...

Map of Cyprus showing Greek Cypriot Part of the Famagusta district. The green areas are the UK Sovereign Base Areas, the blue area is the UN buffer zone. Areas north of the buffer zone are controlled by the Turkish Republic of Northern Cyprus, areas south are controlled by the Greek Cypriot government. Nederlands: Kaart van Cyprus met het district Famagusta. Português: Localização do distrito de Famagusta (Photo credit: Wikipedia)

This is an interesting FT article brought to us via Dr Alf ,who’s currently visiting Cambodia and concentrating more on travel blogs at the moment.

This is very good news and an excellent antidote to the gloom and doom of Syria and the Greek debt crisis, the unnecessary migrant crisis and the furore about BREXIT in the UK and amongst frightened pensioner expatriates in Spain.

Cyprus should be able to attract wealthy foreign investors and persuade the Russian oligarchs, who withdrew their money in the nick of time before the Cypriot “Bail-in” and “haircut”, to once again invest in Cyprus.

The discovery of offshore oil will also help, especially once oil prices firm up over the next 2 years.

John Gelmini

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