Theophanous, A., (2013), “The way out of the Cyprus economic crisis”, Notre Europe – Jacques Delors Institute, Policy Paper 96, September.
This policy paper presents the current situation in Cyprus, and proposes two scenarii of a way out of the Cyprus economic crisis: a reframing of the current Troika’s philosophy, or an eventual temporary exit from the euro area.
After having analysed the current economic, political and social situation of Cyprus, the president of the Cyprus Center for European and International Affairs Andreas Theophanous presents two hypothesis which could lead to better deal with the crisis in Cyprus. The first consists in a reframing of the Memorandum of understanding applied by the Troika’s and its philosophy and implications. The second elaborates on how a possible temporary exit of Cyprus from the euro area could be an alternative option.
The author concludes by a wider reflexion of the political dimension of the options Cyprus faces.