The greatest factor that contributed to the relative death of the Cyprus economy is to do with the existence of career and opportunist politicians. There has been a succession of them on the island who have continued to bury their heads in the sand for years ignoring warnings and avoiding making any decisions. Ex President Dimitri Cristofia ( he left office 4 weeks ago ) had warnings about the collapsing of the banking system for 3 years but deliberately avoided making decisions knowing that he would be able to pass the problem on to those who followed him something that has of course been done now. This is criminal and completely irresponsible.
The phenomenon in Cyprus is of course not unique to the island as we face the same issues here in Britain where people who have never done any other job in their life pursue a 'career' in politics only because they know how to play the system. The way to remove these sort of person from politics is to reduce MP's salaries and bring them down to the minimum wage level that way we will get people who don't go into politics because they want to by a house in Notting Hill but because they want to serve the country. The ancient Athenians did this why can't we do the same? Take away the carrot from these buffoons!!