Cyprus is nearly conquered land, but as said, it’s part of a larger picture. It gives strategic access to project power into the Middle East. The Greek islands Germany has shown interest in the last five years or more also serve the same principal.
The German Parliament and European Union officials are refusing to support Cyprus’s bailout unless the country submits to further conditions. They’re accusing Cypriot banks of making dodgy deals with shady Russian businessmen, and they want this to stop.
Shortly before the end of last year, Cypriot President Demetris Christofias announced, with “heartfelt pain,” that Cyprus would seek a bailout from the EU. He said that terms had been agreed “in principle.” Spiegel Online wrote that the deal means that Cyprus “will effectively lose its sovereignty.” The “troika”—the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF)—“will essentially take control of the Mediterranean island,” it wrote.
Now we’re seeing that in action. Germany’s parliament is refusing to give Cyprus the money unless it changes its banking system and cracks down on money laundering.
A report by Germany’s intelligence service, the BND, that was leaked last November accused Cyprus of creating the perfect conditions for money laundering. It also said the country was giving Russian oligarchs Cypriot passports that allow them to live anywhere in the EU.
Russia also has a lot of interest in the island. But if Germany cuts Cyprus and its banks off from Russian money, Russian influence will greatly decline. Europe is getting rid of a rival for Cypriot loyalty. It doesn’t want to bail out the Cypriots only to have them turn to Russia if it offers a better deal later. Europe wants to make sure that once Cyprus has surrendered to Germany, it stays surrendered.
This time, the condition is that Cyprus reform its banking system. What will it be next time? That German taxpayers get something back from their investment—in the form of a German naval base on Cyprus, or direct German access to Cypriot radar facilities?
Cyprus is a key location to project power into the Middle East. If you haven’t already, watch Trumpet editor in chief Gerald Flurry’s video “Cyprus Surrenders to Germany” for more on the vital background to this story.
Full article: Germany to Cyprus: Terms of Surrender Not Good Enough (The Trumpet)