Legal Business

Return of the black dog – Hard times return for Cyprus’ legal community

Last year the outlook for Cypriot lawyers was improving as the country appeared to be pulling itself back from economic collapse. But with dependency on Russia weighing heavily on the island, unease has returned.

Wind back 12 months and the mood from the Cypriot legal community was undeniably improving. The island was meeting the terms of its €10bn bailout from Europe, following near economic collapse in 2013; the discovery of gas reserves offshore looked particularly favourable; and even the Turkish and Cypriot halves of the country had begun reviving stalled peace talks with the aim of once and for all reuniting the island.