The Cypriot minister of finance sought today to ease about the effects of Greek developments on the Cypriot economy.
In the shadow of the snap elections called in Greece today, Haris Georgiades said today that the two economies are not as linked as in the past.
The Cypriot minister and member of the Eurogroup was cautious in his statements about Greece saying "I would like to be optimistic that also the Greek economy will not be led to any adventures due to political reasons".
He pointed out that the Greek economy has good prospects and expressed his conviction that through democratic procedures Greece will move forward.
The Greek elections threaten to reignite the crisis in the Eurozone as the potential rise to power of radical left-wing political parties like SYRIZA in Greece and Podemos in Spain make markets uneasy.
Markets are also following political developments in Italy, where the incumbent prime minister faces a similar hurdle in the vote for the Italian president.
According to Mr Georgiades the Greek issue was discussed in the Eurogroup adding that "everyone of course wishes for Greece not to face political instability but to continue and conclude the very difficult effort of the correction of the economy so that the sacrifices of the Greek people will not be wasted".
He added that the country still faces some challenges but it has covered a lot of ground and 2015 is expected to be the first year of recovery with tourism being the driving force.
The developments in Greece complicate the Cyprus government's efforts to tab the bond market at a time when financing from the program has been halted due to difficulties in promoting further necessary reforms.
In the shadow of the snap elections called in Greece today, Haris Georgiades said today that the two economies are not as linked as in the past.
The Cypriot minister and member of the Eurogroup was cautious in his statements about Greece saying "I would like to be optimistic that also the Greek economy will not be led to any adventures due to political reasons".
He pointed out that the Greek economy has good prospects and expressed his conviction that through democratic procedures Greece will move forward.
The Greek elections threaten to reignite the crisis in the Eurozone as the potential rise to power of radical left-wing political parties like SYRIZA in Greece and Podemos in Spain make markets uneasy.
Markets are also following political developments in Italy, where the incumbent prime minister faces a similar hurdle in the vote for the Italian president.
According to Mr Georgiades the Greek issue was discussed in the Eurogroup adding that "everyone of course wishes for Greece not to face political instability but to continue and conclude the very difficult effort of the correction of the economy so that the sacrifices of the Greek people will not be wasted".
He added that the country still faces some challenges but it has covered a lot of ground and 2015 is expected to be the first year of recovery with tourism being the driving force.
The developments in Greece complicate the Cyprus government's efforts to tab the bond market at a time when financing from the program has been halted due to difficulties in promoting further necessary reforms.
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