Gold Magazine April - May 2013, Issue 25 | Page 22

COVER STORY

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HOW SERIOUS A BLOW TO THE
PROFESSIONAL SERVICES SECTOR
IS THE RESOLUTION OF LAIKI BANK
AND THE RESTRUCTURING OF BANK OF
CYPRUS?
Christis Christoforou: Nobody can deny
that this banking crisis will impact the professional services sector. Other than the immediate hit to productivity, which is clear,
there will be a long-term effect, the extent of
which we cannot yet measure. First, we can

prosperous years, we are faced with the
challenging task of explaining to our clients
and the international business community
that Cyprus is still one of the best options
in Europe. The restructuring of the two
Cypriot banks has cre ]Y