This book tells the story of the euro crisis in Cyprus from the inside. Written by the former
Governor of the Central Bank of Cyprus Panicos Demetriades who was in office during this
turbulent period this book shows how the crisis unravelled through a series of key events that
occurred during his tenure. Written in chronological order and broadly based on the author's
personal diary starting from his first day in office this volume brings together economics
banking regulation governance history politics and international relations. Presenting
personal witness statements including records of noteworthy telephone conversations informal
meetings and other milestones it examines crucial questions like: How did Cyprus become so
systemically important to the rest of the euro area? Why was Cyprus treated so differently in
comparison to other peripheral countries in Europe? Why were bank depositors targeted? What
role did Cyprus' links with Russia play in the design of the programme? What has been the toxic
fallout from the bail-in? Are there any longer-term implications for the euro? What are the
lessons for regulators around the world? The book will appeal to readers interested in
financial crises the euro's architecture the evolution of the European Monetary Union and
those with an interest in how Europe and the IMF dealt with crises in peripheral European
countries.
