NNoo ccaau­ussee ffoorr ccoon­nc­ceer­rnn,, CCyyp­prru­uss iiss ““mmoor­ree sst­taab­bllee””

Financial Mirror (Cyprus) - - FRONT PAGE -

The po­lit­i­cal and eco­nomic sit­u­a­tion in Cyprus is “more sta­ble” than that in Greece, Fi­nance Min­is­ter Haris Ge­orghi­ades said, adding that the au­thor­i­ties are not con­cerned about an fall-out from the elec­tions and the free-fall of the Greek stock mar­ket and bond yields.

“I hope there is no po­lit­i­cal in­sta­bil­ity in Greece for the sake of the Greek and euro area econ­omy,” the Ge­orghi­ades said in state­ments to state ra­dio CyBC. “There are no di­rect fi­nan­cial ties as those that ex­isted in the past that would cause us ad­di­tional con­cern”.

Both Cyprus and Greece “are on an equally dif­fi­cult eco­nomic path and of­ten face dif­fi­cul­ties in­clud­ing po­lit­i­cal ones. How­ever we have a more sta­ble po­lit­i­cal struc­ture and have over­come the dif­fi­cult part with re­spect to the bank­ing sys­tem and pub­lic fi­nances,” the min­is­ter said, adding that there is an im­pres­sion in­ter­na­tion­ally

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