Thursday, March 28, 2013

Is Cyprus A Member-State Or A Colony Of The EU

Over the past two weeks, Cyprus has faced a barrage of economic brohaha as the Eurozone offered her a bleeding finger for a head. For the vivid first time in a Western democracy, always praised as icon of freedom, the whole world watched with mouth agape, as the EU (or Cypriot govt) imposed a feudal tax on Cyprus.

Finally, a deal has been reached; yet, it sounds worse than what you would expect from Gaddafi, Saddam and Mugabe all put together. It was told that these men denied freedom to their people, but never was it said that they ordered a general confiscation of citizens' bank deposit.

This brings up the question, is Cyprus a member-State of EU? It probably was, but by the time its banks opens tomorrow, (fingers crossed they do), Cyprus might appear to be a colony, not a free fully sovereign country.

Tales from Brussels talks of worrying scenarios as Eurozone technocrats threatened the democratically elected president of Cyprus. Chris Pavlov, a Cypriot former UK banker and Vice President of one of the affected banks in Cyprus, being one of the advisers to the Cypriot govt, told of his shock as he watched the scene of the bailout negotiation.

The above may be disputed about who initiated or invented what, but listening to one German MP or politician after another as they took to the media over these two weeks, you cannot but agree that the events must have been worse than are made public.

So as this new bailout kicks off, the following factors are clearer. That;
  • Cyprus looks colonized by the EU
  • the EU is on a dangerous downward spiral due to its lack of unified policy
  • the EU is a synonym of Germany and Germany owns the EU
  • the EU has two classes to its component, owners and subscribers; Cyprus falls into the later

Where Next?
Since the recession and having bailed out five countries now including Cyprus, the undetermined consequences of setting up a State by stealth without clear roadmap is beginning to catch up with the European Union. And the sooner it decides on what it (the EU) is, the earlier and better it saves itself. But remaining a feel-good political project for Germany [and France to an extent] could in the long run reduce it to just these two and whatever crumbs are left of bailed out debtors who shall remain for their indebtedness.

1 comment:

Richard McCance said...

Having just returned from a pre-booked holiday in Cyprus, I have an interest on whats going off there.

Firstly, it was amazing how disciplined and patient the Greek Cypriot people have been, up to now, guess they are still reeling from the shock of betrayal by the EU. But then again with gun toting 4GS 'troops' outside each banks last Thursday, it certainly invited a climate of restraint!

Malta had the sense to throw off the shackles of colonialism, and it has never really looked back.

Unfortunately, Cyprus is still in bed with Greece, and its messy relationship with the Turkish Cypriot unrecognised state.

It might be an opportunity for both sides to try and get together, although I cant see the Turks making the first move, and I dont blame them, they have been shat on anyway in the carve up of the island.

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