Commission answers government and DISY arguments about the Cypriot economy’s destruction

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Commission answers government and DISY...
 © Parikiaki 2018
The European Commission answer to government and DISY arguments on who is to blame for the destruction of the Cyprus economy.

From the podium of the European Parliament, the then European Commission Vice-President Olli Rehn said: “An oversized banking sector is at the heart of Cyprus’ problems…. Due to the lack of adequate oversight, the two largest banks were allowed to build up excessive risk exposures. It was the problems in these banks that provoked the problems in public finances and the economic recession, and not the opposite.”


This article was automatically added to our system 13-9-2017

Commission answers government and DISY arguments about the Cypriot economy’s destruction


The contents of this article including any associated images are © Parikiaki 2018
Views & opinions expressed in this article are those of the author and/or Parikiaki .

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