Cyprus the EU vassal state

The EU jackboot with Made In Germany written on the sole is stamped on the face of every Cypriot.

Cyprus is now suffering worse as a consequence of EU occupation than it did under the Ottoman Empire and later under the British.

The EU action towards towards Cyprus is that of a Mafia thug, it is economic warfare, little short of an Act of War. This is how the EU treats small states. Were the EU to have an army, there would be an invasion and occupation, with boots on the ground.

A lot of myths are being peddled by the EU, and more specifically by the Germans.

The Cypriots are lazy. This is a variant of the Italians, Spanish, Greeks are lazy.

This has not been my impression, I have found Greeks and Cypriots to be hard working.

At a press conference last week, Paulo Coelho said he was holding his St Joseph’s Day Party in Athens for people to see for themselves and to dispel the myths peddled about Greece.

Cyprus has a rotten banking system. The same could be said of London where the banks are little more than criminal organisations who rob their customers, and yet the weak government has not had the courage to break them up.

Lax banking rules in Cyprus.

Cyprus is a former British colony, the banking rules are London banking rules.

Russian dirty money flows through Cyprus.

More Russian dirty money flows through London.

The problem is less the problems with the Cypriot banking sector per se, and more that the Cyprus banks are heavily exposed to the Greek Banks.

When Greece ran into financial problems, Cyprus as part of the Euro Zone Solidarity Fund to prop up the ailing euro, had to chip in over 4 billion euros, a huge sum for a small economy.

Cyprus was encouraged by London, US and the EU to establish an offshore banking sector to tap into the flow of dollars from Russia as everything was privatised and the Russian economy collapsed.

10% as it was last week, over 25% on deposits over 100,000 euros as it appears to be this week is theft.

We now know no deposit in euros is safe. Such deposits are not protected by the collective action of all euro zone countries as was previously thought. This will cause a mass flow of money out of euros, into London and Moscow.

Cyprus was told it had no choice. It is not a choice when the EU jackboot is stamping on your face.

Cyprus had a choice. Cyprus could have followed the example of Iceland and Argentina, defaulted, brought down the euro. A few tough years, and Cyprus would have been on the road to recovery as has happened in Iceland and Argentina.

Democracy? Unlike last week, the parliament is being allowed no say.

If the banks open next week, and it is a big if, Cypriots should invoke the Greek ideal of democracy, follow the example of UK Uncut, and Occupy the Banks.

It will be very easy to recover the money stolen from bank deposits in Cyprus. Russia slap a levy on gas exports to Germany.

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4 Responses to “Cyprus the EU vassal state”

  1. maureen tomkinson. Says:

    very well say…..i live in cyprus.. and i agree with everyword, we are scapegoats in a much larger ‘game’…..

  2. keithpp Says:

    Yes, you are scape goats. You are a trial run for Italy, Spain and Greece.

    The President of Cyprus said this was a new beginning with a lot of pain.

    Not true, a lot of pain, but not a new beginning.

    A new beginning would have been to pull out of the euro and to default on loans. Yes, this would have been a tough few years, but at least it would have been a new beginning. A new currency, management of ones own economic affairs, a cheaper destination if booking direct.

    Cyprus has not only been let down by the EU, they have also been let down by their political class.

    Anyone who has deposits in banks in the euro zone would be wise to move those deposits whilst they can.

    Cyprus is to enact restrictions on flows of capital, but how will they enforce? Are they to search everyone leaving the country. At one time nearly every Russian entering the country had a million dollars in their attaché case.

    It also makes a nonsense of free flows of capital within the euro zone. This would be like placing restrictions on flow of capital between London and Edinburgh.

    What of students studying abroad? How do they pay their tuition fees, how do they subsist?

    I did not think the banks would open today, and so it has proved to be. I doubt Thursday either (which will mean they have been closed for two weeks)

    Withdrawals of 100 euros is fine for feeding a family, paying a few bills, but what if you have a business to run?

    The summer tourist season is about to begin. What if you are running a car hire and money exchange? How do tourists obtain euros, if no euros are to be obtained locally?

    Cyprus was dependent on one industry, tourism. It was important to diversify. Banking was chosen. Now the banking sector has been destroyed literally over night. Cyprus is back dependent on one source of income, tourism.

    Cypriots living in the north lost everything when Turkey invaded and occupied. An occupation the rest of the world turns a blind eye to. They worked hard, rebuilt their lives, for many to see everything lost again, businesses facing bankruptcy, money in the banks stolen.

  3. keithpp Says:

    Never mind Cyprus – look to Germany for causes of the euro crisis

  4. keithpp Says:

    Austerity Continues: Privatization of Greece’s Rail Underway

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