Cyprus: Communists ask Russia for financial advice

Cypriot finance minister Charilaos Stavrakis wants to cement his country’s role as a centre of capitalism.

We interpreted comments made by the Cypriot finance minister that suggested the country was seeking financial advice from Russia. We accept that the finance ministry holds regular talks with a number of counterparts and that this interpretation was misleading.

It is like a story from a magical realist film on the world after 1989. A finance minister chosen by the European Union’s first communist head of state looks to Russia – to try to resurrect his country’s position as an offshore centre of capitalism.

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