Costas Simitis
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The chapter discusses the causes of the Cypriot crisis and circumstances of its bailout by the EU and the IMF. It is argued that the excesses of the Cypriot banking system had been largely responsible for the implosion of the Cypriot economy. On a different level, the delays in dealing with the Cypriot crisis in a timely manner, highlighted the limitations of the Eurozone institutions to manage risk.

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The European debt crisis

The Greek case


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