Daily Archives: August 4, 2011

Demetris Christofias, president of Cyprus

Demetris Christofias, president of Cyprus, at the eurozone summit in Brussels in June

The news of further turmoil in Cyprus is a reminder that Italy and Spain are not the only eurozone members that may soon be forced to seek European Union support.

After weeks of negotiations, the coalition government’s junior partner, the centrist Democratic Party, has broken off talks with the ruling AKEL, led by communist president Demetris Christofias. As of this morning, that has pushed the yields on 10-year Cypriot bonds above 11 per cent.