Cyprus-Forum.com

[Tim Drayton]

According to this week's Cyprus Weekly, Finance Minister Charilaos Stavrakis said that he expected the Cyprus economy to grow by 1-2% in 2009. Either he does not know what he is talking about, or else Cyprus is not going to be hit as hard as many other countries by this recession.

[dinos]

Lots of folks (including economists) were adamant that the economy here was on sound footing mid-late 2008. As it turns out, they didn't know what they were talking about.

[Tim Drayton]

Lots of folks (including economists) were adamant that the economy here was on sound footing mid-late 2008. As it turns out, they didn't know what they were talking about.

You have a good point. I still think Cyprus is doing pretty well, relatively speaking.

[dinos]

Lots of folks (including economists) were adamant that the economy here was on sound footing mid-late 2008. As it turns out, they didn't know what they were talking about.

You have a good point. I still think Cyprus is doing pretty well, relatively speaking.

I'm inclined to agree - relatively speaking. Cypriot banks won't become insolvent as has happened in Europe and the US. Still, the economic effects are likely to be felt there in terms of decreases in tourism, shipping, etc.

It'll be interesting to see how events unfold.

Hope you're well...