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Political Economy

Swedish Finance Minister, Anders Borg gives Cyprus a week to escape a financial collapse

Wednesday, 20 March 2013
Swedish Finance Minister, Anders Borg feels that Cyprus has a week to escape a financial collapse as he examines the persistent financial troubles bogging the island country and Europe.

Cyprus, a very small island and making a very tiny contribution to the EU economy is dragging the Euro-zone deeper into it crisis, which has persisted now for a time.

The Swedish Finance Minister, Anders Borg, feels that the crisis in southern Europe, with Cyprus on the brink of financial collapse, is deep and require major reforms. He believes that the negotiation threshold around the emergency solution for Cyprus needs approximately one week. After this, the country is on the way of collapse.
"You have about one week, "he said today at a seminar organized by the Swedish business magazine, Affärsvärlden or Business World. Further detailed reporting from Dow Jones News via ADVFN.
By Scancomark.com Team

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