A woman holding dual nationality walks with placard reading ‘No to the 4th Reich’ outside the parliament in Nicosia on March 24, 2013. (PATRICK BAZ/AFP/Getty Images)
During the early hours of Monday morning, EU leaders agreed to another bailout for Cyprus. The island will receive the €10 billion (us$12.9 billion) it needs to avoid collapse without most Cypriots having money removed from their bank accounts. But Cyprus’s economy has been destroyed. The nation is left as a vassal state of the new German empire.
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The deal will be painful for the whole economy. Last week, German Chancellor Angela Merkel said that Cyprus “must realize its business model is dead.” The latest bailout has ensured that realization. Continue reading
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