New Market Research Report: Cyprus Business Forecast Report Q3 2013
The break-up of Cyprus' second-biggest bank, the ensuing collapse of the country's large offshore financial services sector and fiscal austerity imposed on the government as a result of the EUR10bn bailout deal reached in late March, will prolong the island economy's economic contraction for another four years. We have aggressively lowered our economic growth forecasts for Cyprus, anticipating an increase in unemployment and a freezing up of fixed investment levels.
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