Brahmason's Blog

I am surprised that most find the agreement positive .

The type of agreement reached leaves only one thing clear ; Cyprus will never be able to pay the assumed debt .

The island economy canot produce enough richness to pay back for the debt even if its citizens live on charity from now on .

The only way out of this if any , would be a generous agreement with Russia and that seems far away unless russians can grab most of the options on the gas assets of the island and Turkey does not seem to see that possibility without a certain degree of uneasiness .

Sooner or later unless the russian brother pays for it , Cyprus debt will have to be restructured and in the meantime UE investors and savers will be feeling very uneasy till the promised economy recovery becomes true for all european ailing economies and in that sense 2014 may be the year for a showdown between speculation and reality .

Brahmason

Brahmason@gmail.com