Summary: When Harris Georgiades became Finance Minister of Cyprus one year ago he was obliged to impose some tough austerity measures in return for a 10 billion Euro bailout from the Troika of the European Central Bank, the EU and the IMF. Now, the economy is shrinking, unemployment will perhaps reach 20% this year and wages are being slashed. He tells Zeinab Badawi that a total collapase of the banking system in Cyprus has been avoided and the economy is proving more resilient than might have been expected.
