Dienstag, 19. März 2013

Dear citizen of Cyprus

Congratulations, you just saved YOUR money, you just lost YOUR state. Could you please explain me why you’re waiving the flags of the country, which you’re not ready to rescue? You’re shouting Freedom and Democracy, well, unless you have some clever ideas where to get 16 bln Euros, you just lost your freedom. And regarding Democracy, you know in Germany we also have democracy and the next elections are coming. Now I’m not aware of any German politician who will have the balls to explain the German taxpayers why they should show solidarity with Cyprus and rescue it with our tax-money, if the population of Cyprus is not patriotic enough to spend less than 1/3 of the required sum to rescue their own country. Well maybe Claudia Roth, but she always had heart for losers.

So what is your plan B? Where do you want to get 16 bln Euros from? I can suggest you some variants. There are rumours that there are some undersea gas fields. You could sell all exploration rights to Gazprom. The Russians are usually not very good at trading, but in this case even the dumbest East-Siberian will deal a huge discount, because Gazprom has time, which you don’t have. So you will basically sell your future. Also since Assads Syria has some trouble and Russians are searching for a new military base in Mediterranean Sea, you’re a hot candidate, so be prepared for atomic Russian submarines in your ports. Maybe it is better to leave Euro and introduce rouble? Another variant is that finally Cyprus gets united again, but become part of Turkey. For some time they are quite keen on rebuilding the Ottoman Empire, you will become the first part, you want that?

You could be clever and show that you have balls. Let the rich Russians pay 9,9% for Cyprus and get away with 6,9%, maybe even less for people with small income, this suggestion was on the table. But false pride and plain stupidness let you now show balls to the whole EU and pay much higher price in very near future. But well it is your decision, you’re a democratic country, so you will get what you’ve voted for.


Anonym hat gesagt…

I don't think the average Cypriot (man on the street) is to blame here. They just worked hard, saved their money in the bank, and now are being asked to pay 6% tax..for what? Because Cypriot banks took huge amounts of Russian money?

This is a systemic problem. Why does the ECB allow banks in the Eurozone to take on deposits at levels so high the country cannot cover the losses if those banks were to fail?

The ECB should be regulating all eurozone banks to prevent this.

kloty hat gesagt…

Hi Anonymous,

thanks for your response. You can have a discussion who is to blame here, the goverment, the parlament, the EU, the ECB, you name it, but this does not change the fact that Cyprus must bring a sacrifice, before other countries will pay the larger sum. Now instead of spending 6% (what's the interest rate in Cyprus banks btw?), they are asked to sacrify their pension fonds. How mad is this?

You tell exactly the cause of the problem, ECB or EU in general does not have enough power to allow or disallow its members how to govern and what to do with their financial institutions. EU is not US and not Sowjetunion, foreigners do overestimate what EU can order to their members.

Anonym hat gesagt…

Yeah, it really is a systemic problem with no easy solutions at the moment.

I just feel that the "little guy" is getting hurt through no fault of their own. If I was living there, I think I might start hoarding my money under the mattress!

kloty hat gesagt…

I compare it with war, the little guy has nothing to do with it, but still he has to fight. So in case of Cyprus he should just give 6% of his savings and not his life.