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


Tsipras lost me before the #Greferendum, but it’s not completely his fault

Published in the Cyprus-Mail under the title “Why I can no longer support Tsipras,” July 12th, 2015 On Saturday, a day before the referendum, I argued that I will no longer be supporting Tsipras even though I was in favour of the NO vote. Having read the Greek government’s latest proposals to their creditors, as they were submitted on Thursday night, I stick to my view. I’m glad I don’t vote in #Greferendum. I wld likely vote NO. But I wldn’t be supporting Tsipras anymore. Here’s why: — George Iordanou (@iordanou) July 5, 2015 These are the five reasons I gave that explain why I no longer support Tsipras and his government. He called people to vote on a document that was no longer on the table. The consequences of either...

#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.

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...

Can #Cyprus recover without leaving the eurozone?

I don’t see how Cyprus can remain within the Eurozone and potentially recover. The overnight destruction of the financial sector left the economy of Cyprus devastated. All of us already know people who have lost their jobs and people that will soon lose them. The hope is that new productive sectors will be developed that will help the economy recover from the loss of the financial sector. I list four challenges to this scenario. I neither am nor pretend to be an economist, so I would be glad to be proven wrong.

#Cyprus under attack stands proud

Today the people of my country were united. We have been attacked by the countries of the Eurozone. We have even been betrayed by the Greeks that many Greek Cypriots naively consider their allies. Today, instead of running to the banks and maximising the damage caused by the European ‘partners’, the Cypriots were civilised and dignified and did not rush to get their money out. The international news agencies surprised from this reaction tried to find something to report. Instead of panic and chaos, they reported the Cypriot determination to survive the attack.

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

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