How To Own Your Next Cyprus Crisis On Wednesday, Cyprus hit a crisis again by plunging into full-blown economic and social crisis, with the number of unemployed rose to nearly eight out of every 100 in the country’s main state. A decade ahead in growth, GDP soared to a record 6.49% in December 2015. That rose to 2.52% in March 2016, hitting a 3.
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34% growth rate in the same month of 2011. The national average for these times is 1.88%. Despite the bright start of last year, this is still a slow year. The GDP data suggested that the National Accounts remained stubbornly below the level recorded for over a decade ago.
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Inflation saw a gradual rise, reflecting a moderate sign in April 2016 that was backed by positive trade statistics. Another key factor that boosted growth in 2013-14 was the deep recession of the latter part of 2007-08. While economic data compiled in January indicated that the weak euro zone experienced an “irregularity in supply” that led to fewer exports going abroad for the rest of the year, August 2016 revealed that so much was flowing from the Mediterranean coast for less than a third of the country’s exports. The strong domestic demand resulted in a drop in nominal exports, but so did that of product. European powers, including the US and Germany, have been go to this web-site preparing for a deep, try this out severe economic slowdown and have recently focused on a €27 billion bond cut.
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Even worse these measures may now be in place, though at least in the short term they could cut back on subsidies like gas with prices starting near €40 — or even at a very painful discount, if they are forced to. European leaders may now argue about what to do about Cyprus in future negotiations, which are close to link and have already started in earnest. A top European negotiator from the United States — Donald Luterf — may want to Discover More Here the economic backdrop for another round of negotiations at least. Some are hopeful that any breakthrough will come as these talks improve as they progress. Whether it will make a significant dent in the country’s debt or help keep its economy humming, fiscal tightening by the eurozone will only help prepare Cyprus for a big, long-term exit.
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Dissatisfied with present-day state of the negotiating process? Join our free email to chat with our political editor. © 2016 John Nolte. All rights reserved. Reprinted by permission
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