Cyprus’ €10 billion rescue package insures long path toward recovery

Guillaume Xavier-Bender, program officer in GMF’s Brussels office, sits down with Sir Michael Leigh, GMF’s senior advisor in Brussels, to discuss the Eurogroup’s rescue package for Cyprus, including a €10 billion loan along with guidance and supervision of the Cypriot economy. The rescue package, Sir Leigh says will lead the country toward a path of reconstruction, stability and eventually growth, however not before a period of hardship. He concludes that the resilience and the entrepreneurial nature of the Cypriot people will allow for a more viable economic model for the country’s future.