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TagsOpinion
Pissarides: troika’s decisions baffling
THE HANDLING of the Cyprus economic crisis by the Eurogroup of finance ministers highlighted that not all nations are equal in the eurozone where large nations’ interests come first, said Nobel economics prize winner Christopher Pissarides. In an opinion piece published in the Financial Times, Pissarides argued that the troika’s decisions on Cyprus were “baffling”, and made a “mockery” of the vision of the founding fathers of the single European currency. The head of the advisory body to the president, the national economic council, noted that the troika believed Cyprus’ banking sector to be unsustainable because deposits were about eight times the gross national product. ... 9 comments
