| From Cyprus-property-buyers.com: International ratings agency Moody’s said on Wednesday that the outlook for the banking system in Cyprus is “negative” due to slow growth and repercussions from the financial crisis in Greece.
“Moody’s believes that asset quality and earnings for the rated Cypriot banks will remain under pressure in the near to medium term, given the muted economic growth in Cyprus and the anticipated economic contraction in Greece stemming from the Greek government’s austerity measures,” according to the author of the report, Christos Theofilou..............................................Full Article: Source
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