The economic landscape of Cyprus has undergone a remarkable transition since gaining independence from the United Kingdom in 1960. The British left behind an island lacking in natural resources and dominated by agriculture and package tourism. The Cyprus of 2022 is a member of the European Union (since 2004) and Eurozone (since 2008), a modern …
Cyprus’ Banking and Finance sector has been transformed in the years following the 2009-2013 economic crisis and subsequent EU bail out. The economic crisis was largely precipitated by over exposure to the Greek economy and sovereign debt and, a severely overleveraged property sector; all factors which resulted in Cyprus banks portfolios containing an unacceptably high …