As Cyprus struggles to forgo being another player in the Eurozone debt calamity, many tough choices will have to be made in the coming weeks and months. Reshuffling the cabinet and tight fiscal policies could stiffen resolve behind austerity measures that, if adopted, could possibly see Cyprus through its economic crisis. For the first time in over half a century of the Republic’s history there is a call for early elections.
These are certainly difficult times for Cyprus. With the coalition party, DIKO, pulling out and leaving AKEL the only party supporting the administration, the economy edging towards a bail-out, and the whole Mari fiasco explosion there is little room for any serious talks or remedies for successful negotiations with Turkish Cypriots.
Can Christofias hold on to his post for the next 18-months of his presidency to regain voter confidence? Will Cyprus need an EU bail-out or can it pull through the economic crisis on its own? And in the wake of a politically feeble government and economy, what are the prospects for a settlement of the Cyprus problem?
This event is co hosted by Strategy International (Thessaloniki, Greece)