George Iordanou Politics, Philosophy and (not much) Real Life
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April 2013

#Cyprus one month later

This article has been published yesterday by BusinessInsider under the title CYPRUS ONE MONTH LATER: Uncertainty Has Broken The Morale Of The People. I have previously contributed to BI, with pictures of the Bank of Cyprus protest outside the Central Bank and with a brief comment on the first reactions to the Eurogroup meeting.

The night that Ledras opened

Ι remember this day back in 2008. On 21 April 2008 I wrote:
Το άνοιγμα του οδοφράγματος της Λήδρας δεν σημαίνει λύση στο Κυπριακό πρόβλημα. Είναι όμως ακόμα ένα βήμα προς αυτήν. Σήμερα η ώρα 5μμ θα είμαστε εκεί, με σκοπό να δώσουμε ξεκάθαρο το μήνυμα της επανένωσης.
The opening of the checkpoint at Ledras does not signify the solution of the Cyprus problem. Nonetheless, it is another step towards finding a solution. Today at 5pm we will be there in order to send a clear message for reunification.

Don’t sell the Gold!

Reuters is saying that Cyprus will sell around 400 million euros worth of gold. This is a very bad idea. Let me repeat it. It is a very bad idea to sell the gold reserves. Cyprus is going down very fast or as Alexantra put it, ‘it is like watching a train wreck in super slow motion’.The gold reserves will be the only thing left to built something out of the ruins. By selling its gold reserves, Cyprus is selling the only asset that can support an alternative currency in the very possible post-eurozone era. I am not arguing for an exit from the eurozone. I am saying that it is a very realistic possibility that Cyprus will either bankrupt or get forced out of the eurozone. To remove the only asset that can minimise the devaluation of the new pound is a horrible decision. Even the...

Al Jazeera on #Cyprus

Yesterday I took part in Al Jazeera’s The Stream, where we talked about Cyprus. Video conferencing failed me, so I participated via phone. I talked twice. The first question was about who I thought is mostly to blame for the situation in Cyprus. I argued that the Eurozone Ministers of Finance are mostly to blame for making Cyprus a guinea pig case and for destroying one of the two productive sectors of Cyprus overnight. I said that the three days ultimatum that Cyprus was given is nothing short of an extortion and that the ‘deposits haircut’ is actually a confiscation of already taxed money. Of course, I mentioned that the bankers and the Cypriot governments are also to blame but I stressed that it was the mishandling of Cyprus during the Eurogroup meeting that destroyed...

Social Media and #Cyprus

Cyprus has been at the centre of international attention for a couple of weeks. Information was flowing from every direction and the local and international news agencies reproduced everything – from unverified rumours about the resignation of the Minister of Finance during his visit in Russia, to imaginary offers to buy one of the two local banks. In all the crossfire of information, twitter saved the day. It helped verify information, collect information, alter pre-determined attitudes, translate economic jargon to human language and most importantly, mobilise people. The role of social media, specifically twitter, was pivotal in navigating this minefield of false and distorted information. The first example has been the day after the return of the president before the arrival of...

George Iordanou Politics, Philosophy and (not much) Real Life

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