, Situation under control as Cyprus secures bailout
After suspense was increasing to almost unimaginable levels, at last Cyprus secured a bailout, thus avoiding bankruptcy. It seems that negotiations were indeed dramatic, but the wraith of another crisis in Europe was headed off at least for the nearest future.
, Cyprus eyes Russia as it seeks rescue
On the 20th of March, the grief-stricken Cyprus’ finance minister asked for help from Russia. This move, which is simply believed to be an act of despair, is aimed at averting a financial cataclysm in Cyprus after the parliament decided to reject the terms of EU aid. The rejection of the EU bailout nears a probable bankruptcy of the country. Therefore the government is eyeing Russia as it believes that aid from Vladimir Putin would help avoid the tragic precedence of the ongoing crisis, including a bank crash.
