Τετάρτη 20 Μαρτίου 2013

What happened in Cyprus?


Everyone read in the news that the deposits of Cypriots will be "haircutted" for 6.75% (<100k) and 10%(>100k)-at least that was the plan till yesterday. This incredible measure (robbery), imposed by EU who theoretically supports a system that protects the private assets, and the whole "pattern" follows the Greek case, only at a greater speed (in Greece it took 9 months after the election of Papandreou). Also, this heavily reminds the argentinian "Corralito" (http://en.wikipedia.org/wiki/Corralito) that triggered the uprise of Argentinians against their government. And all these to an economy that was robust, especially before the introduction of Euro. In particular, the deposit base of Cyprus was almost 4 TIMES its GDP.  However, the cypriotic banks and politicians rampaged the deposits of the citizens. Then, president Christofias (AKEL) called to bail out the banks and in turn he invited Troika for "help". Of course, the eurohawks (and specially Germany) are not charity organizations and attacked the economy with cheap excuses. The problem is that Cyprus has to forget her past economic model, based on her banking system - which is now destroyed, and look for other solutions. 


An interesting point is that with the excuse of the engineered debt, they attempt to privatize not only the proven natural resources (oil and gas) but also the private fortune of the citizens. But here there is a twist in the story:  the events in Cyprus are not independent from the rest of Europe: (i) this is a second experiment (after) Greece, where the euroctators impose their neocolonial policies (privatization not only of the state assets but also the private ones),  and (ii) the geopolitical game that is going on between EU (Germany) - USA- Russia (and China). In particular, Germany and Russia last week agreed on an alliance for the greek gas-oil privatization(http://www.naturalgaseurope.com/taiped-greek-natural-gas-privatization-process). Next day, Turkey refutes greek rights that greek islands can define an Exclusive Economic Zone (http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_13/03/2013_487564),  speculated to be motivated by US. However, during the weekend EU "backstabbed" Russian interests by attacking Cyprus, with a double objective (i) the depositors money, where big chunk belongs to Russians and (ii) the control of natural resources (since Germany lacks raw materials). At the side of the geopolitical and geoeconomical scenery, I would like to focus on (i) the Rohstoffallianz (http://rohstoffallianz.com/) where giants like VW, Thyssenkrupp, Bayern etc are teaming up for the control of raw materials in the planet (does the operation in Mali, lead by France and assisted by Bundeswehr, relates to this goal?), and (ii) the accumulation of gold from the big players (http://www.gold-eagle.com/editorials_12/kosares020413.html)-specially Germany repatriates 600 tons from US. All the above show major upcoming changes in the geopolitical status quo and the case of Cyprus seems to be the trigger. But let's see... 

Comment 1: As I was writing these lines, Cyprus parliament denied the proposal of Eurogroup for the "haircut". It seems that the measures were too harsh to be implemented, even from a government that was willing to do so. However, the credits belong to Cypriots themselves that stood up and said a loud "NO". I hope Cyprus and the rest of European countries will capitalize this win.

Comment 2: Greek speakers should listen the analysis of D. Kazakis (eg https://www.box.com/s/vi0b6pabx1qapjg9w5tq)

1 σχόλιο:

  1. I thing that it's a very interesting post.I am not sure about the ... EU "backstabbed" Russian interests by attacking Cyprus ... Probably Putin and Merkel have an agreement an we just watch a play.
    For the greek speakers: πολύ καλή προσέγγιση,αλλά τον Καζάκη τι τον θέλατε στο τέλος;
    Φιλικά πάντα!

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