Reuters: Cyprus saved Armageddon for the time being

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Relief of officials in Nicosia after the result in Greece

For another day, Cyprus saved the financial Armageddon, due to the result of the elections in Greece… 

Reuters writes that the result of the elections in Greece has pulled Cyprus behind the cliff for the time being, but Nicosia has an urgent job to do to save its banking sector if it wants to avoid the next loss in eurozone crisis.

The relief of the officials in Nicosia was obvious as the results were coming out of Athens that showed the victory of Antonis Samaras.

"No Armageddon so far. It is postponed for another day, "the agency said, citing statements by an economist in Nicosia, who estimated that Cyprus would need $ 10 billion or more if Greece went outside the euro.

Source: ANT1