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Nepotism Destroyed Cyprus
Interview with Yeran Kouyoumjian, editor-in-chief of the Azad Khosk E-Magazine
Ms. Kouyoumjian, are there any news in the life of Cyprus? Has Cyrus
put up with the crisis?
As you may know, Laiki Bank went bankrupt, the Bank of Cyprus is
jeopardized. However, everything is done to save at least the second
because the country's economy depends heavily on the correct operation
of this bank. For the time being, the people who have money in that
bank can draft only 300 euro a day. Those who have deposit accounts
cannot terminate their deposit. Even upon expiry of the date they will
be able to get only 5000 euro. They say only 100,000 euro is
guaranteed. So people who have more than 100,000 euro, will lose their
money. People are worried about the future of their country although
panic is passing because people are starting to put up with the
present situation.
Everything is still so uncertain. In the result of the bailout
restructuring depositors with more than 100,000 euro will lose 60%.
Now the government imposes new taxes on real estate. About one third
of people are unemployed. Impoverishment is showing its grey face.
Is there emigration?
The European Central Bank controls spending of its loans. This is a
neocolonial order applied to the country's economy.
I don't have any statistics on emigration but I can assume that the
new generation is thinking about their future somewhere else. The
question is that what happened to Cyprus could be a precedent for
other EU member states. Europeans do not have confidence in their
deposits. Other European countries, especially in the south, are also
hardly coping with it. So where could they go, unemployment, social
insecurity is everywhere.
The question occurs whether this is the end of this financial order or
the beginning of colonization. My impression is that the powerful
countries of the European Union, Germany and France, will impose their
will on the economies of Cyprus and other countries, as well as list
them on their political balance. The issue of Cyprus may soon be put
on the table and a pro-Turkish solution may be imposed on the
government. An impoverished country will easily obey orders from
above. At least, I think Cyprus took a backward step by several years
or decades. Cyprus is also to blame because it failed to manage the
behavior of its banks properly, nepotism had a place, and
professionals were replaced by mediocrities. Most mediocrities were
from the ruling party who were rewarded with jobs. Corruption did its
job, ignoring merited people and appointed people who did them a
favor.
Which enterprises suffered more?
Certainly, there are some names, for example the Orphanides
Supermarket which was based on criminal practice. They found several
millions euro with the wife of a bankrupt businessman who was trying
to flee from the country, aggravating the crisis.
How about the Armenians?
The Armenians have always lived isolated and never announced about
their losses, whether financial or other. Everyone has suffered
losses, one more, the other less.
It is obvious that people cling to their money, bewaring uncertainty
of tomorrow. Trade has declined, the economic situation is worse. Most
Armenians are in trade so they must have lost a lot. Lots of Armenians
have lost or are about to lose their businesses. Armenians did not
have access to top managerial and high-paid jobs.
Siranuysh Papyan
10:31 27/05/2013
Story from Lragir.am News:
http://www.lragir.am/index/eng/0/interview/view/29974
Interview with Yeran Kouyoumjian, editor-in-chief of the Azad Khosk E-Magazine
Ms. Kouyoumjian, are there any news in the life of Cyprus? Has Cyrus
put up with the crisis?
As you may know, Laiki Bank went bankrupt, the Bank of Cyprus is
jeopardized. However, everything is done to save at least the second
because the country's economy depends heavily on the correct operation
of this bank. For the time being, the people who have money in that
bank can draft only 300 euro a day. Those who have deposit accounts
cannot terminate their deposit. Even upon expiry of the date they will
be able to get only 5000 euro. They say only 100,000 euro is
guaranteed. So people who have more than 100,000 euro, will lose their
money. People are worried about the future of their country although
panic is passing because people are starting to put up with the
present situation.
Everything is still so uncertain. In the result of the bailout
restructuring depositors with more than 100,000 euro will lose 60%.
Now the government imposes new taxes on real estate. About one third
of people are unemployed. Impoverishment is showing its grey face.
Is there emigration?
The European Central Bank controls spending of its loans. This is a
neocolonial order applied to the country's economy.
I don't have any statistics on emigration but I can assume that the
new generation is thinking about their future somewhere else. The
question is that what happened to Cyprus could be a precedent for
other EU member states. Europeans do not have confidence in their
deposits. Other European countries, especially in the south, are also
hardly coping with it. So where could they go, unemployment, social
insecurity is everywhere.
The question occurs whether this is the end of this financial order or
the beginning of colonization. My impression is that the powerful
countries of the European Union, Germany and France, will impose their
will on the economies of Cyprus and other countries, as well as list
them on their political balance. The issue of Cyprus may soon be put
on the table and a pro-Turkish solution may be imposed on the
government. An impoverished country will easily obey orders from
above. At least, I think Cyprus took a backward step by several years
or decades. Cyprus is also to blame because it failed to manage the
behavior of its banks properly, nepotism had a place, and
professionals were replaced by mediocrities. Most mediocrities were
from the ruling party who were rewarded with jobs. Corruption did its
job, ignoring merited people and appointed people who did them a
favor.
Which enterprises suffered more?
Certainly, there are some names, for example the Orphanides
Supermarket which was based on criminal practice. They found several
millions euro with the wife of a bankrupt businessman who was trying
to flee from the country, aggravating the crisis.
How about the Armenians?
The Armenians have always lived isolated and never announced about
their losses, whether financial or other. Everyone has suffered
losses, one more, the other less.
It is obvious that people cling to their money, bewaring uncertainty
of tomorrow. Trade has declined, the economic situation is worse. Most
Armenians are in trade so they must have lost a lot. Lots of Armenians
have lost or are about to lose their businesses. Armenians did not
have access to top managerial and high-paid jobs.
Siranuysh Papyan
10:31 27/05/2013
Story from Lragir.am News:
http://www.lragir.am/index/eng/0/interview/view/29974