The country of Cyprus breathed a collective sigh of relief today as the country avoided bankruptcy with a deal with the troika. I won't pretend to be an expert on any of the details. The family members who have spoken to me about the issue seem to agree that it was a necessary deal. It will be painful for them to implement and the impact will likely be felt for years to come. However, many Cypriots view this as a new beginning. It is a chance for them to clean up the financial and government sectors and hopefully will lead to a stronger economy in the future. Let's hope that Cyprus will regain it's strength soon.
Ironically, at a time when the country is seeking help from others, Cyprus celebrated Greek Independence Day today. It is a national holiday with schools and most businesses closed. The banks were closed all last week due to the crisis and the need to prevent a run on the banks, but will reopen this week. The kids and I went to a parade in Nicosia with Diana, Tatiana, and Michalis. Michalis is a news manager for a television station and has put in plenty of overtime with the crisis. Most of the local high schools (maybe all) were represented in the parade. Students marched in matching uniforms and many also had some drummers or a small band. There were a few other groups as well, such as the boy/girl scouts and the APOEL soccer club. Sorry no pictures today.
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