Greek businesses to suffer from 'crippling' Cyprus bailout
Enet English ^ | 27 March 2013 

At least 1,600 Greek businesses - from shipping, retail to tourism - will suffer from the Cyprus bailout deal announced on Sunday after a showdown between Brussels and Nicosia, according to Vasilis Korkidis, head of the National Confederation of Greek Commerce (ESEE).

“The tragic situation in Cyprus will certainly have immediate effects on the Greek market, since a large part of the domestic businesses maintain close ties with Cypriot companies,” Korkidis said in a statement on Tuesday. He was particularly critical of the capital controls and the impending haircut on large deposits (over 100,000 euros) expected to be more than 40%.

Greece's exports to Cyprus exceed 1bn euros annually and the country is Cyprus’ biggest trade partner, followed by the United Kingdom and Germany.

       According to Korkidis, the Eurogroup’s Cyprus deal establishes new, severely punitive rules for countries needing emergency aid in the future. He also slammed the Eurogroup deal (which he called the "German plan" to stress the key role played by German Chancellor Angela Merkel in the negotiations) for “crippling” Cyprus. He said the deal is “tragic” because it “sentences” Cyprus - the country’s markets and economy - to a long period of recession and debt.

       Berlin, of course is the financial capital of Germany. Germany's the driving economic engine that made the EU possible. In 1902, Kaiser WilhelmII ruled over the newly unified Germanic kingdoms. The spirit of antichrist dwelled in the new capitol; Berlin. Before the First WW ended, the Kaiser was moved into exile in the Netherlands. Germany's armies had never allowed the Allies into Germany. The Kaiser was asked to identify the crowning achievement of his long reign. Without a pause, the former king said that the recovery and display of the fabled throne room of Nimrod, Zeus, Apollo, Cesar and satan was his crowning achievement. 

                                                                Agape,

                                                                      Michael Curtiss