Cypriots by all accounts are a resilient people and yet, one wonders why this small island has never enjoyed peace. Disraeli, the first Jewish minister of Britain, described Cyprus to Queen Victoria in 1878 as, “This jewel of the Med is the key to western Asia” and wanted to formulate the island as a “defensive dyke.” which describes why Cypus has been geo-politically doomed and in constant turmoil. Like a wake of ravenous buzzards, everyone wants bits of its entrails.
Today, Cyprus is not only a vital military “defensive dyke” but a financial center attracting billions of dollars worth of transactions. This economic miracle has provoked envy and even resentment in some EU member-states, especially Germany. Subsequently, the recent discovery of vast quantities of natural gas – estimated at €500 billion if not more – has exacerbated the urge to move against a vulnerable Cyprus, which seems like a trophy.
Dark EU forces lurking in dark corridors and have devised an unpalatable scheme and come up with a devious plan: Debtocracy. Reduce the nation to a pauper state through asphyxiating crippling loans and then it can be manipulated in any shape and form. Crashing its economy was a good start.
Unfortunately, the Cyprus government failed to read the danger signs until it was far too late. On the near-verge of bankruptcy, it was obliged to approach the Euro-Group lenders for a bailout. Last year, it was established that a staggering €17 billion was needed for Cyprus to remain in the Eurozone.
The Troika jumped at the opportunity to test its “innovative” radical new program devised under a shroud of secrecy. Advocated by both Germany and the ECB they put into action a most devious plan against the island and cunningly gave their “approval” to a €10 billion loan – out of €17 billion required. Under pressure, Cyprus agreed to raise the rest in compliance with Troika’s strict instruction. The trap was then set.
As a prelude to the final act of betrayal, a campaign was initiated to spin the real facts of the crisis – one of them being the ECB’s own funding of up-to €10 billion shortfall to a failing Cyprus bank. The ECB’s financial misconduct had caused an economic tsunami and helped to trigger the collapse of the Cyprus banking system.
Money laundering accusations soon began to spread around the world to scare off investors and the slurring continued with a vengeance. Those unfounded accusations of money laundering – mainly directed against Russian investments – were fervidly debated in EU parliaments but especially in Germany where an election climate existed.
George Soros, “the man who broke the Bank of England,” said in a speech last week that: “In the bailout of Cyprus, Germany went too far and Cyprus was a tremendous political victory for Chancellor Merkel.” Bad rumors instantly caused an irreparable damage to the nation’s economy and credibility. Its credit rating took a nosedive to junk status making it impossible to raise loans on the open market. By then, Cyprus had become the chunk of cheese caught in a trap to be nibbled away by friends and foes.
The European Central Bank then tightened the screw up forewarning that it would cut off all funding to the Cyprus banks and force its financial institutions into bankruptcy. The gloom and doom scenario has sent shock waves across the nation fearing that Cyprus will be the Troika’s next victims to experience a similar fate as Greece. It was to be worse than that.
The Troika finally announced its most devious plan ever: to raid peoples’ bank accounts. Loans suggested for Cyprus were specifically drafted to provide Troika dominion over the island’s affairs with one aim in mind; to exploit and control not only the entire nation but also its natural gas. The Troika’s memorandum was not like a typical loan agreement. It was to be a long-term sovereign financial commitment to last as long as 30 years and could not be cancelled or repaid until its maturity date.
Meanwhile, the Troika was given the right to dictate national policies that are sacrosanct to a sovereign nation. The result of that clever but illicit Troika maneuver, an Economic Dictatorship (or Colonial Capitalism) has been introduced for the first time against another EU member-state. In a sense, Cyprus has become a test case and a guinea pig.
This economic rape against Cyprus is not so new. It was clandestinely applied by the USA in Latin American countries, Iraq, Saudi Arabia and other oil-gas-rich -countries during the 1960’s and onwards. As a result of those covert activities executed by highly trained American agents (known as economic hit-men and the likes of a self-confessed John Perkins) some of those countries today co-exist in utter poverty with massive national debts that can never be repaid. Subsequently, the ploy of loan-dependency continues to no end.
It is most probable that highly trained Troika economic assassins composed of bankers and accountants have applied a scheme of equal magnitude against the Republic. Euro-group chief jackal, Jeroen Djsselboem revealed the Troika’s long-term objectives at a press conference.
He stated: “Troika’s decision on Cyprus was a “template” of things to come and for how other Eurozone countries in trouble will be dealt with in the future.” The news of robbing peoples’ bank accounts has send shock waves across the world recognizing that depositors’ money will no longer be safe in banks. In Spain and Portugal, people held mass demonstrations in solidarity with Cyprus fearing they were next in the firing line.
Never before were a group of inglorious bankers granted absolute dominion over of the affairs of a nation for a simple loan. In the case of Cyprus, the transfer of the right to dictate policy to those EU economic jackals will prove disastrous for many years to come. Many renowned economists such as Paul Krugman, the Nobel Prize-winner economist advised that: “Cyprus should leave and abandon the Euro immediately in order to save its economy”.
The Archbishop of Cyprus and many other prominent home economists have added their own names on such a demand. It is more prudent to default, drop the euro altogether and return back the Cyprus pound in order to regain the ability to devalue the currency when necessary. This will make Cyprus more attractive as a tourist destination; will boost exports; make products more affordable; generate investments and become competitive on the international market. Such a move will then propel Cyprus into prosperity instead of being strangulated by oppressive Troika loans. It may be hard temporarily but not as hard as coping with EU-Troika’s long-term austerity demands.
Raising money under the terms of Troika will for certain cause chaos and misery for thousands of citizens, increase unemployment, trigger a mass exodus of young professionals to foreign lands, investors will take off, while industry will stagnate and be crippled by high interest rates and home repossession will hit the roof to no end.
Cypriot Politicians believe that this kind of misery inflicted against the people is “a price worth paying to retain the Euro.” This is madness! Sadly, that is precisely what Cypriots will have to look forward to in the future; austerity and more hardships as long as Troika controls the reins of power.
Yet, a misguided Anastasiade’s coalition government wasted no time to express its preparedness to sign the agreement. Within a few days of winning the elections, on March 16, 2013 he hastily committed the nation – a complete U-turn from his election promises. Without hesitation he accepted the Troika’s entire rescue package and agreed to raid 40-50% of people’s savings and bank accounts.
The issue was never debated in Parliament and neither was it put to the vote under the terms of a Referendum. Elected dictatorship has not only been imposed in Cyprus but it’s also being supplemented by economic dictatorship; a double whammy.
The cycle of deceit continued. No sooner had the government given its full commitment, the pre-determined figure of the rescue packaged surprisingly jumped to a staggering €23 billion within a few days. It is now feared that this amount will double by the time the Troika applies its final master-plan against Cyprus and does so strategically, just like peeling an onion – bit by bit – so the tears and hurt will not pour in buckets. Cyprus now needs to find €13 billion rather than €7 billion. Obviously, the government will raise that from additional crippling taxation and selling all, like the gold reserve, which Soros called Cyprus as “idiots” for doing that.
Before this financial abyss is over, Cyprus will also face new blackmailing tactics from the Troika; the right to influence, demand and impose its own political solution to the Cyprus problem based on some kind of a pseudo-federation. The trap of the Troika’s ge-opolitical and economic colonization of the island will then be sealed shut.
Just like Nero, who happily recited shallow poetry when Rome was burning to the ground, so did the pro-European president and his party, extol EU greatness and vowed absolute commitment to this supranational institution. They did so, while knowingly the country’s foundations were scorched and razed to the ground. Sovereign democracy was now been eroded and replaced by an authoritarian rule, as citizens are sidelined and important decisions are made affecting their lives.
Historically, Cyprus has entered a dangerous new era and will never be the same ever again. The future looks ominous and it will take a strong decisive leadership with a great foresight and vision to steer it through the maze of landmines set by others to destroy its mere existence as a Republic.
For Cypriot standards, that is a rare commodity indeed. Disraeli was right. This Jewel of the Med will never enjoy peace, not unless a miracle happens and yet sometimes people do make miracles.
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