Cyprus government and banks piling-up cash

They could do more to support economy and citizens

Over the last two years the Cyprus government has produced mounting surpluses and boosted substantially its cash balances at banks. And during the same period Cyprus banks have continued to hold over 36 per cent of their assets in cash, while limiting loans and advances extended for financing real economic activity.

The government with its generation of mounting surpluses and running down of its debt just seems to be trying to impress...