Behind the Steady Recovery in Cyprus

Cyprus’ Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis describes his country’s slow emergence from a deep economic recession following a 2013 EU bail-in that came with significant austerity measures attached. He points out bright spots in the country’s traditional industries as well as the promise of building a new energy industry through offshore gas exploration. He also speaks about negotiations with Turkey over reunification of the island of Cyprus and how Turkish exploration has, at least temporarily, scuttled progress in those talks.