Marek Siwiec MEP on Poland & Europe

Information on the settlement of the Cypriot crisis hit today’s press covers. Articles feature pictures of furious people, most of whom are mad at Brussels. It was bad Brussels who ordered to close the banks and is actually to be blamed for everything. Angry Cypriots and sympathetic citizens of other countries deserve a few words of truth.

What brought Cyprus to the brink of bankruptcy was a greedy politics of its government. Fabulous Russian billions were put in the banks on the island since its origin was not checked. Once the money was put into one of the EU countries bank, it became “clean”. Why did European Union tolerate this state of play? Why did Cyprus have a special status among other Member States?

Well, it was supposed to be some kind of a bonus for uniting the divided island and liquidating a long-term conflict. Everyone expected that uniting Greek and Turkish part of the island was a matter of time. However, it went just the other way around.

Greek Cypriots turned down a reunification plan in the referendum as the European Union gave them much more of everything – they had more help and less problems with Turkish neighbours (who voted for unification).

The European Union saved Cyprus for some time, but never before had private savings been used to do so. For an average Polish citizen, the “safe” 100 thousand euro is a fortune. Apparently, there was a reason in Cyprus to go above this amount.

My Cypriot colleagues told me that during the crisis, Larnaca airport could not find enough space for private jets from Russia and Ukraine. It is estimated that after the blockade was introduced, over a dozen billion euro disappeared from unsecured bank accounts.

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  1. Dear friends,
    BBC news write today
    Banks in Cyprus reopen after a two-week closure sparked by negotiations over an EU-IMF bailout, but withdrawals are being tightly controlled.
    So, the situation changes
    Have a nice day

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