Thursday, 28 March 2013

Wall Street Oasis - Investment Banking & Finance Community: Cyprus is the 21st century Titanic – which also sunk it’s own battleship.

Wall Street Oasis - Investment Banking & Finance Community
The Wall Street Finance Community where investment bankers, consultants, traders, private equity and hedge fund professionals come to learn and play.
Cyprus is the 21st century Titanic – which also sunk it's own battleship.
Mar 29th 2013, 00:30

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For those who do not know, Cyprus sits as a very sizable ancient landmass in the midst of three large spheres of influence. One African, one Asian, and one European, and as the last stepping stone for any civilized Westerner who goes off the deep-end into another part of the world -- thus the country does seem very culturally mixed.

Perhaps that's why it was no surprise, to most Cypriots, their country's recent credit quagmire has left creditor institutions from all over the world clawing their way into their banks. It's not pleasant place for once rosy-tinted Russian tourist economy that allegedly settled in to rest and relax in what happens to be the European Union's largest off-shore financial Fortress, far away from Moscow rules, and what is an eerily reminiscent response how their banks were handled after crisis hit the old country, in 1997, for these 40% of all Cypriot deposit holders.

Like watching horror film's reel cut into pieces and has hastily been reassembled, the final cut leaves us with what looks like a image of country that was no longer entirely its own year. It's now heavily ladened with kleptocratic Russian influence and opaque ideas and entirely questionable ideals of German-styled austerity, and thus picture gets worse as time goes by.

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