| Author (Person) | Hadjipapas, Andreas, Hope, Kerin |
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| Series Title | Financial Times |
| Series Details | 21.7.11 |
| Publication Date | 21/07/2011 |
| Content Type | News |
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The governor of the Cyprus central bank warned on the 20 July 2011 that the economy faces 'a state of emergency' following a disastrous explosion at a Greek Cypriot naval base earlier in the month that caused 13 deaths and an estimated â¬2bn in damages. Athanasios Orphanides said that unless harsher than planned austerity measures were adopted immediately, Cyprus might become the next southern European member of the eurozone to seek a bail-out. In October 2011 the President of Cyprus was blamed by an official investigator for negligence leading to the huge explosion. |
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| Countries / Regions | Cyprus |
