If you travel over the roads in Cyprus, the bright green hockey field of the UK air field base near Limassol stands out like an oasis amongst the general dry landscape. A few years ago there was talk of the UK withdrawing its airforce in face of a tight national budget. I wonder if it has been nations budgetting issues that will make the UK decide it better stay put.
Cyprus' search for financial rescue since 2011 has hardly been noticed in world news in the midst of the Egyptian and Greek revolts, Turkish-Israelian diplomatic tensions, not to mention outright wars in Libia and Syria, all within a 700 km radius.
In similar vein, Cyprus' acession to the European Union was overshadowed by the political and private investment celebrations in the west of the simultanous EU entry of some significant former Soviet bloc countries. How interesting is it that most foreign direct investment into Russia and Russian outword investement into the EU is routing through Cyprus.
Now Cyprus - logically highly exposed to the Greek economy and financial sector - is wondering whether to get it's needed bailout from Russia or the fellow Euro group members and it would seem that the pro's and con's of a Russian no formal questions asked financial guarantee, outfavour the EU's Germany flavoured structural reorganization demands. Consequently Russia will be able to offer a lower interest rate.
In case any one hasn't noticed, at the end of this month Denmark will pass on the chair and agenda of the EU presidency to Cyprus.
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