

Some Savers in Cyprus May Lose 60 Percent - OGinparadise
http://www.nytimes.com/2013/03/30/business/global/some-savers-in-cyprus-may-lose-60-percent.html?_r=0

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OGinparadise
IMo, they are at least three issues with Cyprus: donor fatigue, even though
the amount is tiny relatively speaking.

EU hates small islands that act as money laundering /low tax heavens.

Lastly, this: _"In 2004, Greek Cypriots again defied international
expectations when they voted down a United Nations-backed reunification plan
they believed was unfairly weighted against them.

A few days later, the island joined the European Union and some EU leaders
were left fuming at what they saw as Greek Cypriot deceit for promising to
sign up to a peace deal in exchange for EU membership.

Nearly a decade later and European acrimony at the Cypriot "no" hasn't
entirely dissipated. German Finance Minister Wolfgang Schaueble told the
Sunday edition of German newspaper Welt am Sonntag that "Cyprus was admitted
to the EU in hopes that the plan of then-U.N. Secretary General Kofi Annan to
overcome the (island's) divide would be honored."

"I interpret (that) as indicating a sense of vindictiveness rather than
rational, result-oriented thinking." said University of Cyprus Associate
Professor Yiannis Papadakis._
[http://hosted2.ap.org/OHCAN/CREPnewswire/Article_2013-03-30-...](http://hosted2.ap.org/OHCAN/CREPnewswire/Article_2013-03-30-Defiant%20Cyprus/id-
cf1a4dace5a04e6a9ad2891e78a86769)

