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Cyprus - long term proposal

Benefits and problems from the EU membership.

Cyprus - long term proposal

Postby georgios100 » Sat Mar 23, 2013 5:40 pm

Since we now know that EU solidarity means highway robbery to start with CY's gas reserves as the final bullseye, what should Cyprus do for the long term survival of it's economy and more importantly it's sovereignty?

CY should "play along" and get the EU bailout. Impose a higher tax on deposits to satisfy the EU demands but put
the rest of the money into the new solidarity fund. This solidarity fund should be made as the vehicle of escape
from the troika teeth later on. By the year 2020, some funds should start to roll in from the gas reserves. Dedicate
a percentage of that to the solidarity fund and pay out all outstanding debts of the Republic, including the EU bailouts.
At the same time, 20% of the gas revenue should be saved in a special account for the Turkish Cypriots till the CYprob is resolved.
Later, but never announced, all haircutted bank accounts (foreign and domestic) should be compensated with interest.

All the above are fundamental steps to rebuild credibility into the CY banking system.

Now CY should swiftly re-introduce the strong Cypriot pound, free of debt and backed by the gas reserves along with
healthy banks. This means CY will leave the Eurozone but remain in the EU only. For national security reasons, CY should
award some drilling and gas infrastructure projects (pipelines) to Russian companies. Furthermore, CY should include Israel to share
the cost of the CY onshore gas plant building and ownership.

Additionally, I would go a step further and allow a 30% of the gas exports thru Turkey pipelines while constructing new pipelines
to connect CY gas fields thru Greece. Turkey will be satisfied (for now) and might open the door for the CYprob solution.

The CYprob solution is the ultimate goal/key to secure this proposed long term survival plan for Cyprus.
Anything else is just short term bandage solutions usually adopted by CY short sided politicians.
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