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Co-operative Societies: Growth and Crisis

In: The Banking System of Cyprus

Author

Listed:
  • Kate Phylaktis

    (City University Business School)

Abstract

Co-operation in post-independent Cyprus gathered momentum in a similar fashion to the commercial banking sector. The expanding economy, which provided, on the one hand, the demand for loans and, on the other, the increase in savings, together with the realisation of the benefits of co-operation have been behind the spreading of co-operation throughout the island and in all forms of agriculture and related sectors. Unlike the smooth development of the banking sector, however, the cooperative movement suffered setbacks during this period, which it survived only with the Government’s financial support. Not only did it suffer severely from the Turkish invasion, but most seriously, it became subject to malpractice.

Suggested Citation

  • Kate Phylaktis, 1995. "Co-operative Societies: Growth and Crisis," Palgrave Macmillan Books, in: The Banking System of Cyprus, chapter 6, pages 105-119, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12868-6_6
    DOI: 10.1007/978-1-349-12868-6_6
    as

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