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Since 2009, international interest in the Eastern Mediterranean’s offshore oil and gas resources has followed a cycle from widespread excitement, to a stall in activity, to disappointment and back to excitement again. The Levant Basin has seen several discoveries that could have a big impact on domestic economies. However, unless circumstances locally, regionally a...
Dr. Carole Nakhle
Cyprus’ discovery of the Aphrodite gas field in the eastern Mediterranean is seen as potentially providing a lifeline for the Cypriot economy. Contracts signed with international oil companies could help the island turn the page on its vulnerable indebted economy and its reliance on imported energy supplies. This report looks at the reality of these claims and cons...
Cypriot voters gave conservative Nicos Anastasiades a landslide victory and with it a mandate to resolve Cyprus’ economic problems. His new ministerial team is likely to encourage his eurozone partners to support plans for the island’s 17.5 billion euros rescue package and the introduction of austerity and privatisation measures to pay back the loan.