Sindonews.com -analysts predict bailout deal on Cyprus would lead to a loss of investor and thousands of jobs. Where the number of unemployed would increase to 30 percent.
Professor Hari Tsoukas, an analyst of business in Europe, unemployment in Cyprus tend to rise at least doubled from 14 percent to at least 25 percent and may be up to 30 percent. "This is a big challenge now facing the people of Cyprus," he said, as reported by Skynews, Tuesday (26/3/2013)
During the week-long people have been rationed, and some of them withdraw from cashpoints. Banks have been closed since last March 16. However President Nicos Anastasiades recently will reopen the bank on Thursday (28/3/2013).
Anastasiades insisted, it would perform some transaction restrictions to prevent the flow of big money out.
According to Fiona Mullen, an economist who specializes in Cyprus, this means it is difficult for the company to pay salaries and buy goods. In the short term this crisis will be felt importers of food and medicine.
"Unemployment has now been reached 15 percent will increase as a result of the closure of Laiki bank (the second largest bank of Cyprus), be 17.5 percent. In fact, going to 20 percent within three months and 26 percent in one year's time, "said Mullen, as reported in the previous Sindonews .
While the former Governor of the Central Bank of Cyprus Afxentis Afxentiou, argues, the effect can last up to a decade. "Cyprus has undergone a big hit and the standard of living we will spiral. Although the economy may recover in two to three years, our standard of living at least takes 10 years to get back, "he explained.
Finance; Investment; Business; Economics
Finance; Investment; Business; Economics
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