Legal Business

Cyprus: Picking up the pieces

As Cyprus emerges from its Troika-imposed three-year economic adjustment programme, Legal Business assesses how the country’s constantly fluctuating fortunes are affecting the legal market.

On the face of it, Cyprus has much to celebrate. In March, the country completed the three-year economic adjustment programme that followed 2013’s €10bn bailout package agreed with the European Commission, European Central Bank and the International Monetary Fund. That the country has finally wrested back control of its finances was coupled with the Commission’s prediction of a 1.4% rise in GDP for Cyprus in 2015 – the first year of economic growth since 2011.