Greek economic crisis? Time for a bit of sabre rattling over Cyprus so

[PaddyJoe]

You could almost think that it's a very convenient time for Greece to pick a fight with the ould enemy. One to watch

Deputy Prime Minister Theodoros Pangalos addressing Parliament on Friday. In a sharp rebuke to Turkish authorities and their increasingly aggressive stance against Nicosia’s plans to drill for oil and gas in the eastern Mediterranean, Deputy Prime Minister Theodoros Pangalos told Parliament on Friday that Athens would regard “any attack against Cyprus as an attack against Greece.”
“Cyprus is an independent member of the United Nations and has the right to independently determine its interests, alone or in cooperation with other countries,” Pangalos said in reference to Cyprus’s plans to cooperate with Israel in exploration with a US energy firm.
Pangalos also suggested that all political parties meet to discuss growing tensions in Thrace, a region in northern Greece which has a large Muslim minority that Turkish authorities insist on referring to as ethnic Turks. The deputy premier said measures should be taken to avert the impact of Turkish policies that could wreak “irreparable damage.”

http://www.ekathimerini.com/4dcgi/_w...09/2011_405646

[Kid Ryder]

Whatever about the cynical machinations of Greece's discredited politicians, there would be no appetite whatsoever for conflict with Turkey among the vast majority of ordinary Greeks. The only exception would be the extreme nationalists (who are a small percentage of the population, but endlessly useful to the Greek police who facilitate their attacks on left-organised street protests), but it would not be a runner with the rest of the population. In fact most Greeks are sick to the back teeth of the militarism of the Greek state. That's what I understand from my conversations with Greek friends and comrades.

[C. Flower]

Sadly it seems inevitable that there will be increased competition and strains between European countries and their neighbours. The eagerness of the UK, France and Italy to plunge in to Libya seemed like they were starting up again where WW2 left off.

[PaddyJoe]

"Cyprus plans to cooperate with Israel on oil exploration with a US energy firm"
Meanwhile Turkey has broken trade and diplomatic links with Israel over the Mavi Mamarra.
The plot thickens.

[C. Flower]

"Cyprus plans to cooperate with Israel on oil exploration with a US energy firm"
Meanwhile Turkey has broken trade and diplomatic links with Israel over the Mavi Mamarra.
The plot thickens.

Somehow the idea of oil rigs in the Med just seems all wrong.

Apart from the environmental issues, the potential for conflict is worrying.

[jmcc]

This is going to upset all those 2012 heads as it is a bit ahead of schedule. It is, however, a classic distraction. Nothing unites a country quite like a war.

Regards...jmcc

[PaddyJoe]

Warming up nicely:

Cypriot President Dimitris Christofias said Tuesday that his country’s plans for gas exploration in the Eastern Mediterranean were its sovereign right and would not be derailed by Turkish threats.

Responding to a series of statements from officials in Ankara, warning of a Turkish naval response if Nicosia proceeds with its exploration plans, Christofias said, “In the event of Turkey committing an unlawful act -- something which we hope will not happen -- we expect a strong and effective response from the international community.”

Nicosia has given the drilling rights to US firm Noble Energy, which is expected to start exploration in the Cyprus Exclusive Economic Zone southeast of the island in the next two or three weeks. Turkish officials have indicated that the launch of the project might prompt Ankara to send navy warships into the area.

Ankara’s posturing last week provoked stern admonitions from Brussels and Athens. Maja Kocijancic, spokesperson for European Enlargement Commissioner Stefan Fule, called on Turkey “to refrain from any kind of sources of friction or action which could negatively affect good-neighborly relations and the peaceful settlement of border disputes.”

Also last week, Greek Deputy Prime Minister Theodoros Pangalos upped the ante on Ankara, indicating that Athens would regard “any attack against Cyprus as an attack against Greece.”

http://www.ekathimerini.com/4dcgi/_w...09/2011_406180

[Sam Lord]

Funnily enough if Greece defaults then Cyprus is done like dinner by all accounts.

http://www.theglobeandmail.com/repor...rticle2163247/

The ripple effects could reach as far as Ukraine and Turkey and flatten Cyprus’s financial sector, whose exposure to Greek debt totals 156 per cent of the country’s GDP. Cypriot banks, in turn, hold massive Russian deposits.

[Sam Lord]

More cracks in NATO ...

[C. Flower]

Cyprus in trouble - S and P downgrade -

S&P: CYPRIOT BANKS EXPOSURE TO GREEK DEBT 165% OF CYPRUS GDP

Leaky firewall?

[PaddyJoe]

Greece, Israel and Cyprus continuing to make progress on energy deals:

The governments of Greece, Cyprus and Israel will begin discussions this month regarding the export of natural gas to Western European countries, Cypriot Commerce and Industry Minister Neoklis Sylikiotis announced on Thursday in Nicosia.
The Cypriot official told state RIK television that he has received a positive response to the invitation he sent to his Greek and Israeli counterparts for a meeting next month. Sylikiotis added that the meeting will also discuss the formation of a working group to examine the creation of common infrastructures for the interconnection of the three Eastern Mediterranean countries’ electrical grids.
Nicosia is already expecting revenues of some 300 million euros next year from the signing of contracts with the consortiums to be chosen for the new hydrocarbon surveys in Cyprus’s Exclusive Economic Zone.
“This revenue will send a positive message about the Cypriot economy,” said Sylikiotis

http://www.ekathimerini.com/4dcgi/_w...08/2012_459215

[C. Flower]

Zerohedge says that the money pouring out of Cyprus to Russia is Russian money.

http://www.zerohedge.com/contributed...ian-connection

[Ephilant]

If it isn't Cyprus we are arguing over, it has to be something else. Especially if it involves Turkey...

Today, the Greek goverment fired, with immediate effect, 3 generals and the head of the war museum, over their participation in the lauch of a new book on the PKK.

this immediately raised Turkish hackles, who complained to the Greeks government about ongoing undermining of the efforts to create a friendship (whihc many Greeks read as effort to smooth their way into the EU).

The book in question is written by Murat Karayilan, a senior member of the PKK.

this is the second thime that high ranking Greeks get into hot water of their support for PKK members. In 1999 the then Minister for Foreign Affairs Theodoros Pangalos was fired and replaced by George Papandreou, after giving political assylum to the the PKK leader Abdullah Ocalan. Ocalan was subsequently asked to leave Greece and finally captured as an international terrorist in Nairobi.