2012–13 Cypriot financial crisis

Cyprus suffers blow from massive bank withdrawals by Russian depositors

The economy of Cyprus has suffered a serious blow from the flight of Russian capital from the island.
The Russian oligarchs who appear to be a pillar of Cyprus' banking system apparently want to stash away their wealth in other countries as the battle to combat money laundering heats up in the EU.

S&P upgrades its outlook on Greek Cypriot debt

Accelerating economic growth and prospects for a continued budget surplus has prompted a key credit rating agency to upgrade the outlook for Greek Cyprus to positive.

Standard and Poor's said the improved outlook indicates it could raise the grade on the country's debt in the next 12 months if the positive developments "continue unabated."

The ‘dragon’ has landed…IMF tough rep in Athens..

The wait is finally over, as the notorious for her tough, ‘no-nonsense’ approach Romanian ‘star’ representative of the IMF, Delia Velculescu has landed in Athens. Her arrival at the Athens Hilton Hotel was indicative of her ‘special’ status, something usually reserved for high profile royals or celebrities.

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