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Cyprus

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Will Israel’s Gas Hopes Come True?

The 2nd leaders' summit of the Gas Exporting Countries Forum (GECF) has taken place in Moscow. Experts say there is a candidate to enter the elite club of 13 members once the rich East Mediterranean deposits start to be developed. The vast sea bottom natural gas fields were discovered a few years ago. Israel is the leader in the development; it starts its activities without waiting for neither ultimate resolution of legal issues, nor settling the emerging disputes with neighbors...  The Eastern Mediterranean «gas pie» is disputed by Cyprus, Lebanon, Syria, Egypt and Turkey, as well as Palestine striving for independence... 

Dmitry MININ | 04.07.2013


 

Discord Mounting in the European Union (II)

Right on time for the conflicts in the European Union at the center of which Germany has found itself comes an IMF report unprecedented in its self-criticism. This report acknowledges the organization's serious mistakes in developing and implementing the anti-crisis program for Greece. In particular, the report documents the unforeseen consequences for the economy of reducing state expenditures when the recession was already underway, excess optimism in assessing the chances of returning the country to the debt market, and delays in restructuring the state debt using private creditors...

Pyotr ISKENDEROV | 24.06.2013


 

Bank Deposits Confiscation: Global Outlook

In March 2013 the events in Cyprus shock the world to hit the radar screen of world media. The bank deposits were confiscated. Some tried to make it look as an emergency measure, an exclusion from the rules that define banking activities and the functioning of market economy. But there is a solid ground to believe the confiscations are to become a routine feature of everyday life... Europe is leaving others behind on the way to introducing the haircuts of deposits. Or the European Union, to be exact. The first step was made on April 24...

Valentin KATASONOV | 11.06.2013


 

EU: «Deposits Trimming» and Geopolitical Model

The European Union has launched a legal procedure to create a foundation for actions aimed at «cutting extra weight» from large deposits in the banks of the Union’s members... For the first time in the Eurozone history the investors are divided into the «reliable» and «risky» groups, and the last ones will have to face confiscations. The cutting away from deposits will be applied only to the troubled banks. As the experience of Greece, Cyprus, and even Spain and Italy shows, no banks are protected from trouble...

Pyotr ISKENDEROV | 01.05.2013


 

Mediterranean: Winds of Change (II)

After a long period, Moscow has returned to the Mediterranean as a sea power. In 2011 it conducted a naval exercise exceeding in scope any training activity since the days of the Soviet Union. The last large-scale drill took place in January 2013 and involved over 20 combat surface ships and submarines from three operational fleets... On February 26 a subsidiary of Russian energy giant Gazprom signed a 20-year deal with Levant LNG Marketing Corp. to exclusively purchase liquefied natural gas (LNG) from Israel’s Tamar offshore gas field in the Mediterranean. Gazprom wants to build up its LNG trading business to diversify away from traditional European customers receiving natural gas via pipelines...

Andrei AKULOV | 21.04.2013


 

Mediterranean: Winds of Change (I)

...The recent discoveries of enormous oil and gas reserves in the little-explored Mediterranean Sea between Greece, Turkey, Cyprus, Israel, Syria and Lebanon suggest that the region could become literally a «new Persian Gulf». But there is a reverse side of the medal. New battles over rights to resources in the Levant Basin and Aegean Sea could spark tensions and military conflicts. Turkey insists the gas must be shared, it has sent ships to back its stance. Syria and Lebanon have their own claims. Palestine, Egypt, Lebanon and Syria are also advancing claims to the "Aphrodite" gas field off Cyprus...

Andrei AKULOV | 20.04.2013


 

A Pogrom of Offshore Companies, or Operation «Offshore Leaks»

From the beginning of April this year, the subject of «Offshore leaks» has become a favourite with the world's media. Even the issue of Cyprus has paled in significance. Loosely speaking, «Offshore leaks» can be defined as the leakage of sensitive information about offshore companies and their clients... We are talking about a planned operation on a global scale. On 4 April, the leading media companies of a variety of countries almost simultaneously issued a sensational news story claiming that an organisation called the International Consortium of Investigative Journalists (ICIJ) has a rich database on offshore companies and their clients. The overall volume of files at ICIJ's disposal exceeds 260 gigabytes...

Valentin KATASONOV | 17.04.2013


 

On the Fronts of the European Crisis

A group of well-known European and American economists have concluded that the euro currency itself is to blame for the problems in the eurozone. The report published recently by these economists, who joined forces in Massachusetts under the guise of the National Bureau of Economic Research, is the first at such a high expert level to pass sentence on the single European currency...

Pyotr ISKENDEROV | 05.04.2013


 

Cyprus: Rescued and Attacked. Who is Behind it?

The Eurogroup’s decision on financial aid for Cyprus had been taken just one day before the X- hour, late on March 25. Destined to rescue Cyprus, it may become a delayed action mine capable to undermine the whole edifice of the European Union... There are three players, who have special interest in enticing panic in world stock and currency exchanges; they are well-known stock exchange profit-eer George Soros, the International Monetary Fund and Germany, the country facing general elections in September...

Pyotr ISKENDEROV | 26.03.2013


 

Soccer Star Olli Rehn and the Gloomy Future of Cyprus

On the outside the situation in Cyprus’s economy is a result of premediated public policy of the European Union, but behind-the-scenes one can clearly see subversive activity of eurocrats stooging for financial interests of the international stakeholders. Let’s keep an eye on the big picture and put Cyprus’s financial uprising in perspective. As the Romans asked: Cui prodest?..

Igor ALEXEEV | 22.03.2013




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OUR COLUMNIST
    Finian CUNNINGHAM

Ending the Cold War on Cuba? From the Freezer to the Chiller

As US President Barack Obama announced his surprise «historic» bid to normalise relations with Cuba this week, the New York Times swooned with glowing news. ‘US to Restore Full Relations With Cuba, Erasing a Last Trace of Cold War Hostility’ was how its top headline put it. Welcoming the development, the American «newspaper of record» said Obama vowed to «cut loose the shackles of the past» and to «sweep aside one of the last vestiges of the Cold War». But, purple prose aside, the hard detail is that the ongoing illegal American embargo on Cuba will stay in place. Moreover, the move comes as Washington slaps on more sanctions against Russia and unleashes new sanctions on Venezuela...

19.12.2014
 
 
 
 
 
 
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