Washington Post | Cyprus Gas News keep you up to date with all news about Cyprus Gas and Oil reserves. http://www.cyprusgasnews.com Cyprus Gas News Thu, 17 Oct 2013 16:55:35 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Kasoulides: Euro exit considered http://www.cyprusgasnews.com/archives/2461?utm_source=rss&utm_medium=rss&utm_campaign=kasoulides-euro-exit-considered http://www.cyprusgasnews.com/archives/2461#comments Sat, 11 May 2013 16:27:44 +0000 Admin http://www.cyprusgasnews.com/?p=2461 Foreign Minister Ioannis Kasoulides has admitted Cyprus seriously considered leaving the eurozone in an interview with American newspaper Washington Post.
According to the interview the country’s leaders discussed severing ties with the 17-nation currency union for “24 to 48 hours,” after the parliament rejected an initial bailout plan, throwing the country’s economic future into doubt, Kasoulides said: “It was an internal reflection” about how the country should proceed, he said. “We had to think of all the plans B or C that existed.”
The exit idea was shelved after it was estimated that reinstating the Cypriot pound would have caused an immediate 40 percent drop in the value of the new currency, devastating a small island that relies heavily on imports.

 

 

Published by: www.incyprus.com.cy

 

 

]]> http://www.cyprusgasnews.com/archives/2461/feed 0