The Cyprus economy faces the risk of bankruptcy no more, Deputy Government Spokesman Victoras Papadopoulos said on Saturday, noting that the economy is in the process of consolidation.

In a written statement, Papadopoulos says that the government was called to confront the risk of Cyprus going bankrupt from the moment the new government took over, last March.

He adds that it chose to follow the only path available, that of concluding a loan agreement with the Troika, since there was no other credible solution.

“After seven months we can say that the risk of the state going bankrupt ceased to exist any more and the Cyprus economy has started to consolidate,” Papadopoulos says.

He finally calls on all parties to go along with this effort, noting that “we can overcome problems only through decisive solutions”.

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