Cyprus Looking To Casinos As Part Of Plan To Revive Struggling Economy
Online gambling and casinos receive a lot of flak from opponents to gambling as they see it as a potential danger for addiction and other social problems. Supporters of casinos and online gambling argue that in a controlled environment gambling can does not only do no harm but in fact has major positive spins on economies.
One such country which is adopting this position is that of the beleaguered Cyprus where president Nicos Anastasiades announced today that as part of the bailout options he will open casinos and bolster tourism in an effort to inject some vital life to their embattled economy. Cyprus has been in the news for a while as they are on the verge of an economic meltdown. Once again they have been given a lifeline with a 23 billion euro rescue package from the International Monetary Fund and their European counterparts.
Currently analysts believe that the Cyprus economy will continue to shrink by about 13% until 2015. The president’s ideas of opening casinos and other ideas like business tax breaks are just a few of the many that are planned. Others include granting young people state and church-owned land to cultivate as well as establishing solar parks.