The Asian crisis was triggered by a little country called “Thailand” which, according to the World Bank, had a GDP at the time that was less than Iran, Peru, Tunisia, and Fiji. In ’97 Cyprus’ GDP was nearly eight times the size of Thailand.
The impulse is to disard Cyprus as to small and too insignifcant…reminder: Black Swans start small when people fail to, prepare, notice or demonstrate proper concern.
Award time...
