“Georgiades said he wasn’t informed about the university’s decision to accept bitcoin, but rather read it about in the news. He feels the news is emblematic of Cyprus and its economy.  ‘It was a private initiative and that shows how ahead the private sector, private enterprise and innovation is. And that’s how it should be,’ he said. ‘I am a strong believer in the … dynamism of the private sector and especially in Cyprus. … Because of this entrepreneurial spirit which we have in Cyprus … I am so confident that we shall soon be on track for recovery and growth.'”

http://www.cnbc.com/id/101246855

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