Debt crisis a chance for EU to address past mistakes in Cyprus
LAWRENCE STEVENSON
Lawrence Stevenson is managing director at Callisto Capital.
There is a Cypriot proverb that says: “A fool throws a stone into the sea and all the wise men cannot get it out again.” Fourteen years ago, I wrote in my thesis at the Sorbonne that the European Union had thrown several stones in the sea over the years in the process of mishandling the Cyprus file. The EU’s strategy has kept the island divided and has hurt the West’s relations with a key North Atlantic Treaty Organization ally, Turkey. But, for both Cyprus and Greece, the current financial crisis may provide an opportunity to retrieve those stones and calm the sea.
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