Cyprus communists do not rule out euro exit

Cyprus should weigh whether it is in its interest to abandon the euro, the leader of the Mediterranean island’s second-biggest party was quoted as saying on Wednesday.

Nicosia should not rule out leaving the euro and consider it as an option, Andros Kyprianou, secretary general of the communist AKEL party, said in an interview with the semi-official Athens News Agency.

“We do not hold absolute views on the issue of the euro exit,» Kyprianou was quoted as saying. «It remains on the table as an option. It requires careful study and planning,» he added.

Several Cypriot deputies, including from AKEL, had aired similar views in recent parliamentary debates, after the eurozone imposed severe losses on the island’s bank deposit holders as a condition for a 10-billion euro bailout.

AKEL controlled Cyprus’s previous government under former President Demetris Christofias, which lost power in an election in February.


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