Well, when handing out free money, expect a line to form.
Cyprus is the next in line, but, they’ll have to wait until their elections are done and find a more agreeable fellow to beg for the money and jump through the hoops for the ECB. The current head of state is a communist, so he’s not very agreeable to making state owned things privatized.
Some Germans have some tough talk about Cyprus having to make some changes before they get any money, but, we know Cyprus will get the money. I think it’s just political posturing.
Cyprus sought financial aid – which could be up to 17.5 billion euros ($22.6 billion), equal to its entire gross domestic product – from the European Union and IMF last June. Its economic woes stem from its banks’ heavy exposure to crisis-racked Greece.