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Cyprus isn’t about banks. It’s about gas Add to ...

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It’s that old resource curse again. If you thought that the trouble with little Cyprus was a few dodgy banks, a gaggle of Russian oligarchs fretting about their laundered dollars and the shredded reputations of some euro-politicians, think again. Everyone is talking about a giant gasfield, with the Kremlin hinting that it might be interested in a bank debt-for-gas swap and Ankara objecting loudly that there would be no gas euros without the inclusion of the Turkish-Cypriots in the north of the island.

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