According to an article published on November 28th in the most popular daily newspaper, “Phileleftheros”, Cyprus, following the example of other countries such as Greece, Poland and Portugal, might withdraw from Eurovision 2013 due to financial reasons.

Moreover, in an interview given to the paper mentioned before, Mr Makis Symeou- the CyBC Chairman of the Board- claimed that the participation of the country in the Eurovision Song Contest has been a profitable project for the Cypriot broadcaster so far. Since Cyprus became the fourth country to strike a bailout deal with IMF Group, CyBC officials fear that taking part in the contest might provoke negative reactions.

In addition to this, the whole thing began on the occasion –as has also been mentioned to Show Time –CY and being written to the official site of INFE Greece- as a start of the discussions on the government owned annually budget. It is clearly stated that the country needs 29 million Euros in order to get through to her annual budget. Until now and according to what it has been revealed from a person related to the government owned channel of Cyprus, there have been found 27 million Euros and remain only 2 million Euros to be found. So they started thinking ways of reducing the expenses of CyBc. As a result that might come up with a possible withdraw of Cyprus from the Eurovision Song Contest.

As a conclusion, a meeting will be held next week to determine whether the Cypriot flag will be flown in Malmö or not. In case Cyprus decides to take part in the Eurovision Song Contest, there will be made an enormous effort to come up with a possible low budget participation according to Mr Makis Symeou (has to do with the saving of 2 millions Euros as mentioned above) which could mean either a small scale national final with newcomer artists- such as talent show participants- or internal selection of an artist whose record label will be willing to undertake most of the cost.