The President of the Republic of Cyprus, Nicos Anastasiades, confirmed on Monday that his country has been preparing for a Grexit scenario, stressing that the Cypriot banking system is immune to the crisis in Greece.

“Several measures have been outlined and all the necessary tabletop exercises have been completed to test our emergency response to a Grexit scenario,” Anastasiades told the reporters on Friday.

At a press conference on the state of his country’s finances, the Cypriot President reiterated that he did not want to contemplate the possibility of a Grexit.

“However, since a stitch in time saves nine, I want to assure you that all emergency response exercises have been completed, for any eventuality,” he concluded.