Cyprus

Cyprus sets an example on how to exit a bailout.


Cyprus will successfully exit its bailout programme this month after three years. The country has come a long way since 2013 when its banking sector was on the verge of collapse.

The Cypriot economy went through heavy reforms and recovered using just €7.25 billion of its €10 billion rescue package. The banking sector was stabilised, a budget surplus was achieved (down from a 5.5% deficit in 2013) and the current account nearly brought into balance. However, this is just the beginning.