Eric Margolis writes: Realizing they will never be a world power, the Cypriots have decided to settle for being a world nuisance. ~ George Mikes, Hungarian writer
Cyprus is a big pain in the neck for one and all. Its banks are bust due to reckless lending to Greece. The sunny island is a beehive of tax evasion, money laundering, dodgy trade and espionage.
Now, the threatened bankruptcy of Cyprus has triggered the latest European financial crisis.
Russian businessmen and the Russian Mafia have some 30 billion euros stashed away in Cyprus. Russians make up the second largest biggest cohort of Greek Cyprus’ 869,000 people. Some 260,000 ethnic Turks live in the isolated Turkish Republic of Northern Cyprus, which no one but Turkey recognizes.
A 10 billion euro EU bailout is in the works. But the Germans, who will have to fund most of the rescue, are loathe to rescue the Russian mob, and who can blame them?Read the original article here onSigns of the Times - Puppet Masters