Külügyi Szemle - A Magyar Külügyi Intézet folyóirata - 2013 (12. évfolyam)
2013 / 4. szám - FÓKUSZBAN: CIPRUS - Botos Balázs: A ciprusi gazdasági összeomlás természetrajza
Botos Balázs Résumé The Nature of the Cypriote Bankruptcy Cyprus is already the fifth country of the Eurozone, which needs the financial assistance of the European Union. However, the case of Cyprus seems to be unique. First of all, because in the beginning Cyprus started the financial negotiations with Russia instead of the international „Troika". Second, because the tool of the so-called 'bail-in' has been applied for the first time in the history. Last but not least, because of the reluctance of some member states of the European Union regarding the rescue of Cyprus, which is in close connection with some suspicious amounts of money of the Cypriote banks. As a consequence, the name of Cyprus has become connected with the term of money-laundering and offshore companies, which had brought their profits to this small island instead of paying taxes in their home counties. This paper aims to analyse the complex phenomena of the Cypriote bankruptcy, detects the most important issues and presents the preceding events of the economic crises as well as the international responses and the disputes concerning the crisis management. 148 Külügyi Szemle
