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As Cyprus collapses, it's a race to the Mediterranean gas finish line

Saturday, March 23rd 2013 - 10:17 UTC
Full article 4 comments

By Jen Alic of - Cyprus is preparing for total financial collapse as the European Central Bank turns its back on the island after its parliament rejected a scheme to make Cypriot citizens pay a levy on savings deposits in return for a share in potential gas futures to fund a bailout. Read full article


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  • falklandlad

    The emerging “real” story behind the Cyprus banking scandal. EU for Cyprus gas or Russia for Cyprus gas, irrespective of the time frame to exploit or the likely reserves of oil and gas.

    Mar 23rd, 2013 - 12:26 pm - Link - Report abuse 0
  • Britworker

    This is actually a very simple matter. Cyprus signed up to the Eurozone, when they did that they handed over their fiscal management to the authority of Brussells. Now they have to face their debts by rules imposed by Brussells, they cannot act outside of the Eurozone.
    I am no fan of Europe or the Eurozone, but I can totally see why they are pissed off with Cyprus right now.

    Mar 23rd, 2013 - 01:17 pm - Link - Report abuse 0
  • Fido Dido

    “Now they have to face their debts by rules imposed by Brussells, they cannot act outside of the Eurozone. ”

    No they don't, no matter if they are in the club of the Eurocrats (mainly Fuhrer Merkel, who wants to rob them openly to protect her banksters friends who gambled. As I typed before, Russia wants a military base in Cyprus and explore the gas fields in trade for the bailout. Cyprus can also say, screw you, screw the banks, let them eat virtual cake, give back the money to the people of Cyprus and control their own money supply again. Iceland did that (they also jailed the banksters) and moved on.

    Mar 23rd, 2013 - 05:02 pm - Link - Report abuse 0
  • briton

    Money, money , money,

    And the bankers will benefit,
    Brussels holds the power,
    But it is Russia that pulls the strings,

    As they control the gas sold to the EU,
    Proves two points
    1, never underestimate Russia,
    As the Eu is so dependent
    2, when you put on a straight jacket,
    Then don’t complain ya can’t manoeuvre,
    Some said that not only was Russia interested in the minerals of Cyprus’s coast,
    But was interested in a navel base in the med, for her navy, as Syria [when it falls] may not entertain them,
    Just a thought..

    Mar 23rd, 2013 - 08:06 pm - Link - Report abuse 0

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