Zyperns Wirtschaftsmodell Wirtschaftlicher Aufstieg, russische Investoren und Finanzkollaps
Cyprus' Economic Model Economic Rise, Russian Investors and Financial Collapse

Summary/Abstract: When Cyprus joined the European Union in 2004, hardly anyone could have imagined that nine years later the island would be forced to ask its euro partners and the International Monetary Fund for financial assistance due to an impending financial collapse. The invasion of Cyprus by Turkish troops in 1974 led to the division of the island, which continues to this day. However, because many Cypriots from the Turkish-occupied north moved to the south, there was a positive economic development as the potential labour force was increased. When Cyprus applied for membership of the European Union, economic development had progressed to such an extent that the island was able to fulfil the accession criteria without any major problems. However, Cyprus ignored the warnings, which brought with it the risk of financial collapse. Cyprus was only stabilised with the help of financial assistance from its euro partners and the International Monetary Fund.

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