"Neither Cyprus nor Lebanon have this money today," he said. Cyprus is reeling from Europe's financial crisis, its economy is projected to shrink by half a percentage point of GDP this year and unemployment is hitting record highs.Lebanon has one of the highest percentage debts in the world, amounting to about $55 billion or 130 percent of the country's GDP.
Cyprus Offers Mediation Between Lebanon, Israel
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.