HARDtalk

Harris Georgiades - Minister of Finance, Republic of Cyprus (2014x10)

Ausstrahlung: Jan 24, 2014

When Harris Georgiades became finance minister of Cyprus in 2013 some said he had been handed a poisoned chalice. He has had to preside over tough austerity measures that are driving up poverty levels in the country. The economy is shrinking, unemployment will perhaps reach 20% this year and wages are being slashed. These were the tough conditions of a 10 billion euro bailout granted last year with the troika of the European Central Bank, the EU and the IMF to avoid a collapse of the banking system in Cyprus. So why then does the finance minister believe that the economy is proving more resilient than expected? Is he being too optimistic?