In Defense of Cyprus
Cyprus's business model – to serve as an international center for services and trade – has not failed. Rather, Cyprus has fallen victim to a crisis of fiat currency and defects in the management of the financial system.
BERLIN – Greece is said not to have one. Cyprus does, but needs to change it. Luxembourg’s is similar to Cyprus’s, but apparently it is just fine. Malta’s, however, requires more thought. I am, of course, referring to countries’ “business model,” which all sovereign states have lately been deemed to have. Germany, for example, is supposedly an export country.
BERLIN – Greece is said not to have one. Cyprus does, but needs to change it. Luxembourg’s is similar to Cyprus’s, but apparently it is just fine. Malta’s, however, requires more thought. I am, of course, referring to countries’ “business model,” which all sovereign states have lately been deemed to have. Germany, for example, is supposedly an export country.