This article investigates the impact of the eurozone crisis on the foreign policy of an EU Member State, Cyprus. Drawing on the literature on Europeanization of national foreign policies, it is argued that Cypriot foreign policy, despite the general frustration caused by the financial crisis within broader society, has actually undergone further Europeanization. We show that leadership is a critical intervening variable in this enhanced Europeanization, as well as pointing to the salience of the explanatory mechanisms of social and instrumental learning. The contribution of the article is twofold. It offers an empirical account of contemporary Cypriot foreign policy and contributes to the discussion of the impact of the Eurozone crisis on national foreign policy. Both, we contend, remain relatively neglected topics in the literature.