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Author: Panicos Demetriades
Publisher: Springer
ISBN: 3319622234
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
This book tells the story of the euro crisis in Cyprus from the inside. Written by the former Governor of the Central Bank of Cyprus, Panicos Demetriades, who was in office during this turbulent period, this book shows how the crisis unravelled through a series of key events that occurred during his tenure. Written in chronological order, and broadly based on the author’s personal diary, starting from his first day in office, this volume brings together economics, banking, regulation, governance, history, politics and international relations. Presenting personal witness statements, including records of noteworthy telephone conversations, informal meetings and other milestones, it examines crucial questions like: How did Cyprus become so systemically important to the rest of the euro area? Why was Cyprus treated so differently in comparison to other peripheral countries in Europe? Why were bank depositors targeted? What role did Cyprus’ links with Russia play in the design of the programme? What has been the toxic fallout from the bail-in? Are there any longer-term implications for the euro? What are the lessons for regulators around the world? The book will appeal to readers interested in financial crises, the euro’s architecture, the evolution of the European Monetary Union, and those with an interest in how Europe and the IMF dealt with crises in peripheral European countries.
Author: Panicos Demetriades
Publisher: Springer
ISBN: 3319622234
Category : Business & Economics
Languages : en
Pages : 217
Get Book Here
Book Description
This book tells the story of the euro crisis in Cyprus from the inside. Written by the former Governor of the Central Bank of Cyprus, Panicos Demetriades, who was in office during this turbulent period, this book shows how the crisis unravelled through a series of key events that occurred during his tenure. Written in chronological order, and broadly based on the author’s personal diary, starting from his first day in office, this volume brings together economics, banking, regulation, governance, history, politics and international relations. Presenting personal witness statements, including records of noteworthy telephone conversations, informal meetings and other milestones, it examines crucial questions like: How did Cyprus become so systemically important to the rest of the euro area? Why was Cyprus treated so differently in comparison to other peripheral countries in Europe? Why were bank depositors targeted? What role did Cyprus’ links with Russia play in the design of the programme? What has been the toxic fallout from the bail-in? Are there any longer-term implications for the euro? What are the lessons for regulators around the world? The book will appeal to readers interested in financial crises, the euro’s architecture, the evolution of the European Monetary Union, and those with an interest in how Europe and the IMF dealt with crises in peripheral European countries.
Author: Alexander Michaelides
Publisher: World Scientific
ISBN: 1783268778
Category : Political Science
Languages : en
Pages : 365
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Book Description
On June 28th 2012, the small island of Cyprus became the fifth government to request an economic bail-out from the Eurozone after losing access to international capital markets. Less than a year later, a €10 billion second rescue deal was agreed upon — an unprecedented agreement that bailed in creditors of Cyprus' two largest banks, and triggered an economic crisis that the nation still struggles to recover from today.This resourceful collection of essays provides a thorough and in depth analysis of how Cyprus reached the point of failure and what lessons this experience holds for future economic crises. The various perspectives collectively address unanswered questions, including whether the bail-in can be considered successful, why the recession was less severe than expected, and what conclusions can be drawn about stress-testing exercises across borders.Focusing on one of the (proportionately) largest crises in financial history, the case study will prove essential to policy-makers and politicians, especially in the euro area.
Author: A. James
Publisher: Springer
ISBN: 1403900892
Category : History
Languages : en
Pages : 259
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Book Description
During the Cold War the small state of Cyprus was of great strategic importance to the West. Britain, the United States, and Nato all had valuable installations there; and any armed conflict between Greek and Turkish Cypriots could easily suck two nearby Nato members - Greece and Turkey - into war. When therefore, intercommunal fighting broke out in Cyprus in December 1963, the West was deeply embarrassed. This book examines the consequential efforts of, first Britain, and then the UN, to keep the peace.
Author:
Publisher:
ISBN: 9789295085336
Category :
Languages : en
Pages : 419
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Book Description
This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.
Author: James Ker-Lindsay
Publisher: Oxford University Press
ISBN: 019975716X
Category : History
Languages : en
Pages : 148
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Book Description
For nearly 60 years, the tiny Mediterranean nation of Cyprus has taken a disproportionate share of the international spotlight. In The Cyprus Problem, James Ker-Lindsay--recently appointed as expert advisor to the UN Secretary-General's Special Advisor on Cyprus--offers an incisive, even-handed account of the conflict. Ker-Lindsay covers all aspects of the Cyprus problem, placing it in historical context, addressing the situation as it now stands, and looking toward its possible resolution.
Author: Marilena Varnava
Publisher: Bloomsbury Publishing
ISBN: 1788315421
Category : History
Languages : en
Pages : 388
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Book Description
Focusing on the period from September 1964, when Senor Galo Lasso Plaza assumed the UN mediatory role, to the coup d'etat and the Turkish invasion ten years later, Cyprus Before 1974 seeks to unpick the internal conflicts which led to the failure of the peace process in Cyprus. Marilena Varnava studies three phases: Plaza's mediation of 1964-1965; the negotiating impasse on the island during the period 1965-1967; and finally the inter-communal talks of 1968-1974. Varnava argues persuasively that each of these successive phases, particularly the latter two, were inextricably tied to political and social developments within the two main communities on the island itself. In particular, Cyprus before 1974 focuses on the events of 1968 - when the Greek-Cypriot political leadership, and the President of the Republic of Cyprus Archbishop Makarios III, failed to grasp the nature of the changes within the island's post-independence arena. Recurrent attempts within both communities during the talks of that year to create faits accomplis favourable to their own bargaining positions served to heighten the barriers to a stable and peaceful outcome. This study enlarges our understanding of the underlying issues which the Turkish invasion of 1974 were to throw into stark relief and is essential reading for all those who study the Cyprus problem and conflict resolution.
Author: Andrew Borowiec
Publisher: Bloomsbury Publishing USA
ISBN: 031300207X
Category : Political Science
Languages : en
Pages : 212
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Book Description
Borowiec portrays Cyprus as a permanent source of tension in the Eastern Mediterranean and a potential trigger for future conflict between Greece and Turkey. He describes the depth of animosity between Greek and Turkish Cypriots and analyzes the obstacles in the path of a search for a solution. Most casual observers see the conflict between Greeks and Turks on a strategic Mediterranean island as a struggle within a sovereign state. Borowiec concludes that there has never been a Cypriot nation, only Greeks and Turks living in Cyprus, separated by the hostility reflecting the traditional animosity between their motherlands. If these two groups could forget their past conflicts—as did, for example, Germany and Poland—there might be a way to end the partition of Cyprus. At the present time, however, the crisis is likely to continue with varying degrees of tension, threatening the entire Eastern Mediterranean and undermining NATO's cohesion. Borowiec traces the history of Cyprus from antiquity through Ottoman and British colonial rule and the post-independence period. He describes the break between the island's communities in 1963, the UN intervention of 1964, and the path toward the Athens junta's coup in 1974 which caused the Turkish invasion and occupation of the northern part of Cyprus. He compares the conflicting views of the protagonists—the Greek Cypriot majority and the Turkish Cypriot minority. Considerable attention is paid to the two separate economic and political entities on the island. Borowiec analyzes the futility of myriad international mediation efforts and suggests possible ways of creating a climate propitious to dialogue. This important new look at the Cypriot conflict will be valuable to researchers, policy makers, and scholars involved with the Eastern Mediterranean and conflict/peace studies.
Author: United States. Congress. Senate. Committee on the Judiciary. Subcommittee to Investigate Problems Connected with Refugees and Escapees
Publisher:
ISBN:
Category : Cyprus
Languages : en
Pages : 152
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Book Description
Author: United States. Congress. Senate. Committee on the Judiciary. Subcommittee to Investigate Problems Connected with Refugees and Escapees
Publisher:
ISBN:
Category : Cyprus
Languages : en
Pages : 124
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Book Description
Author: United States. Congress. Senate. Committee on the Judiciary. Subcommittee to Investigate Problems Connected with Refugees and Escapees
Publisher:
ISBN:
Category : Cyprus
Languages : en
Pages : 116
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Book Description
