Saturday 24 February 2018

Troika shows it is hopelessly out of touch

Again and again, efforts to ease the effects of the economic crisis in a series of European countries have caused problems at least as serious as those they were designed to alleviate. This has happened again in Cyprus, and the dread word "contagion" has come back into vogue.

Along with it have come the predictable statements from various governments and from the European institutions. Tiny Cyprus is unique. Its banking carries no implications for its partners, no threats.

Ordinary people there – and those elsewhere in the EU who watch with apprehension – see it differently.

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