Cyprus-Forum.com

[CBBB]

http://www.project-syndicate.org/blog/both-greece-and-cyprus-must-capitulate-next-week-by-christopher-t--mahoney

Cyprus is publicly begging the Troika to come back to Nicosia for more "negotiations"; the Troika's failure to return suggests that there is nothing to talk about until Cyprus gives in and agrees to what the Troika has “proposed”. As Schaueble intended, the Cypriots have become extremely nervous, but have yet to agree...

Schaueble said that nothing substantive had been accomplished, which is true. For Cyprus to meet the deadline for the Nov. 12th eurozone finance minister meeting, she will have to capitulate to the Troika on all issues this week. I think that Schaueble’s statement was calculated as a stark warning to both Cyprus and Greece that these are not as much negotiations as they are ultimata, and that Europe isn’t going to blink. The marxist parties in both countries must choose between capitulation or default.

next week's going to be interesting.

What with Christophias out on the street protesting about ATA being stopped?

[supporttheunderdog]

the ball is in the troika's court!

My feeling is that the government were totally unpepared for negotiations with the troika over austerity measures. All hopes and effort was for the Russians to bail us out like a white night in shining armour and with no auterity requirements.

Now that it is clear that the Russians will not part with their money we are scrambling to negotiate with the troika and as if we are in a position of strength laying down red lines!

We must understand reality. If we want the Troika's money we must play by their rules no matter how difficult.

I will however not blame the troika for the economic troubles we will have for the next 5 years. It is the corroption, incompetence of the government establishment (present and past) as well as its unwillingness to implement fair competition to bring down costs which have caused Cyprus to be one of the most expensive countries in Eurrope.

The Russians probbaly saw the first loan vanish in a bottomless pit...why see more go the same way?