The title of a recently released Al-Jazeera article is “Europe sets deadline to CUT OFF Cyprus aid” (Web-site/URL: http://www.aljazeera.com/news/europe/2013/03/2013321123043570287.html).
“The European Central Bank (ECB) has warned it will cut off emergency aid to Cyprus if a bailout plan is not in place by March 25 (2013)”. That’s FOUR DAYS away.
In a statement issued on Thursday (March 21, 2013), the bank said Europe’s assistance is contingent on the approval of a new package in the Cypriot parliament.
“At a meeting in Nicosia, the capital, politicians again ruled out an unpopular tax on bank deposits and agreed to set up an investment fund as part of a “Plan B“, after an earlier rescue deal was voted down”.
Cypriot government spokesman Christos Stylianides released the following statement: “Following a proposal by [President Nicos Anastasiades], there was A CONSENSUS REACHED and A UNANIMOUS DECISION was taken for the setting up of an Investment Solidarity Fund”. Of course, we know how DIFFICULT it is for POLITICIANS to reach “a consensus”.
“Al Jazeera‘s Peter Sharp, reporting from Nicosia, said the statement reflects THE FRUSTRATION of the ECB”. “The central bank HAS JUST HAD ENOUGH. As far as they are concerned, this has been DRAGGING ON NOW and it’s doing the Eurozone NO GOOD AT ALL” obviously.
“Demonstrators chanted: “Keep your hands OFF POPULAR (?) Bank” and “Hands OFF the bank” while several jostled with riot police, briefly breaking through a cordon, about 100 metres from the entrance to parliament”.
“Stylianides said the proposal for the proposed new fund was being processed by government lawyers, while Averof Neophytou, acting leader of the ruling Disy party, said that if it is ready, “certainly it will be before [parliament] this afternoon (March 21 2013)”.
Finally, Neophytou finished off: “I WANT TO BELIEVE (that) we will find a solution to avoid bankruptcy of this country and WE WILL (?) manage this“. Is this A REALISTIC EXPECTATION? (Web-site/URL: http://www.youtube.com/watch?v=NgnAY_eXYbI).
Could CYPRUS be the next country ON THE BRINK OF COLLAPSE?