Pro Bailout Candidate Wins Cypriot Elections

Cyprus Budget Deficits

Conservative Aims to Secure Aid After Winning Cyprus Presidential Vote –

Cyprus is on the verge of default earning a CCC+ credit rating. Everyone of its economic and fiscal indicators is cratering, the result of a banking crisis. Cyprus has a choice. It can either choose the Irish or Icelandic model for dealing with the crisis. Unfortunately, it is a foregone conclusion that it will saddle Cypriot taxpayers with the bad decisions made by investors and depositors in the banking system condemning the country to a Greek style depression for years.

The winning candidate has close ties to Merkel, and she supported him during the election. All the Germans want is to keep the euro together so they can continue exporting with a weak currency. They care as much for the Cypriots as they do for the Greeks. Cyprus will receive just enough aid so that it does not default while the austerity shoved down their throats saps growth for years.

These bailouts are never about assisting the countries that request them. Their purpose is to bailout the banksters and to maintain the euro for the benefit of Germans. Some day, the people of the Mediterranean countries will understand this and rise up, but, alas, today is not that day.

4 thoughts on “Pro Bailout Candidate Wins Cypriot Elections

  1. To me Cyprus is “key”

    meaning if they [US and EU] bail out Cyprus then it is truelly over

    to understand my perspective first one has to look at what Cyprus is claimed to be

    On the surface

    Cyprus a channel for attracting investment to Russia , Friday March 16, 2012

    In the last five years alone, the Russian economy has seen Cypriot investments of over $52 billion, of which $41.7 billion was invested in the 2007-10 period, or 2.7 times more than German investments in Russia in the same period.

    by others perhaps an illegal tax haven

    Cypryus is apparently claimed to be predominantly “tax haven” for Russians or perhaps some may or might even say “illegal” Russian funds.

    Should the US bail out “secret” Swiss bank accounts holding money put in as Tax Haven for rich US ? Should US bail out Bahamas tax haven for certain US hiding from taxes ?

    If the US and EU bail out Cyprus to bail out Russian tax haven to jump start Russian economy, when the Russians apparently already gave them money and said no more [Cyrpus previously went to Russian Gove for bailout $],

    Well then this must be a bright line. You now have clear proof there is nothing
    that will not be done and no limit regardless how improper or illegal.

  2. Cyprus Connection


    The report finds that Cyprus, a small island nation with a GDP of just US$23 billion, is both the largest source and destination of Russian foreign direct investment (FDI) from 2009-2011. Cyprus sent US$128.8 billion into Russia in 2011 alone, more than 5 times Cyprus’s GDP.

    Dr. Kar notes that, “The recorded FDI positions merely reflect the round-tripping of prior illicit deposits from Russia into Cyprus,” making Cyprus a major money laundering machine for Russian criminals.

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