The conditions of any possible deal between Cyprus and Russia must be closely scrutinized by Britain and Germany. It could give Russia a foothold inside the door of the EU !!!
British troops are present in Cyprus, whereas Russia must at this very moment fear that its connections (preferred position) near Syria, are endangered.
Cyprus needs a quick fix ! In the opinion of this Blog, Cyprus does not need this quick fix with either the EUROZONE or RUSSIA !!! It should simply, unilaterally, withdraw from the the EURO and then readopt its previous currency, (the piastre).
Cyprus could then declare that all foreign currency assets and liabilities must be given a local currency value expressed in Piastres. The next step would be to declare a devaluation of the new Piastre by at least 40 %.
The effect of such a chain of events would be to put the Cypriot Economy on an even keel without any help from the EUROZONE or Russia.
The Tourist industry in Cyprus would suddenly become much more attractive to foreigners, not only to Oligarchs but also to normal tourists !!!
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