In March 2013, the Cypriot authorities agreed with the European Commission, the European Central Bank and the IMF, the Troika, on a €10 billion bailout. Unemployment in Cyprus is hitting new record after record. The IMF expects unemployment to reach 19.5 percent this year, from an average 17 percent in 2013. In Cyprus, small to medium enterprises and the private sector do not have access to loans: investments in the country are not possible unless they come from abroad. Additionally, the largest 30 businesses are at the edge of insolvency, owing EUR 6 billion to the local largest commercial lender. Again, the new government is generally inefficient and unaware new growth models and territorial innovations. This all is catastrophic for the nation, because it leads to a total absence of economic activity and future growth. The only real way to get out of the bailout program is to go for radical smart growth solutions:
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