The example of Cyprus and the spirit of its people are inspiring, since they are agile, resilient and can turn crises into opportunities, European Central Bank President Christine Lagarde said on Wednesday, addressing a conference organised by the Central Bank of Cyprus in Nicosia.
Referring to the likely effects Cyprus may have from the crisis in Ukraine, she noted that the country will be affected by the inflationary pressure of higher energy costs and the tourism will be hit, while professional services, such as legal and financial sectors, will be affected to a degree, pointing out however that “with the right policy response, we can mitigate the consequences of the war and manage the high level of uncertainty we are facing.”
In her address and quoting Greek poet Constantine Kavafy’s poem, “Ithaca”, Lagarde said that it captures well the story of Cyprus,
Source: Cyprus News Agency