“When there is instability at stock exchanges worldwide, resorting to government bonds are considered a safe choice, a safe haven for global investors and this is what would (potentially) affect our country negatively,” Georgiades told reporters today according to a statement emailed by the press and information office. “But because of this fact, namely that government bonds in times of uncertainty become an attractive option, it is likely that some sort of benefit will come out”.

The finance minister said that the ministry monitors developments adding that he hoped that for “other reasons” related to “economic stability” that the current turmoil is soon over.

“No direct reason for concern arises for Cyprus,” he said. “The Cyprus Stock Exchange is besides a small exchange without depth and without the participation of global companies it is not affected”.

Source: Cyprus Mail