‘Harry’ Anastasiades Magicking Up a Cunning Plan for Troika


‘Harry’ Anastasiades Magicking Up a Cunning Plan for Troika

South of the border ROC way, life is getting tough as Troika gets tougher over the ROC’s insistence in rewriting the terms of the bail out loan.

The Foreclosure Bill is having so many new clauses added by the desperate ROC Government, it is starting to make War and Peace look like a novelette.

Desperation is setting in as the next tranche of the loan money continues to be held back until the conditions set out for
its hand over is met.

The ROC Government who spent many hours yesterday trying to come up with conditions acceptable to the opposition will meet again today. The irony being that even if they do come up with the words acceptable to both sides, there is no
guarantee they will be acceptable to Troika. Oh what a web we weave, when we practice to deceive.¹

All the extra time taken has achieved is that the non performing loan debts have increased whilst property values have continued to fall. So the banks exposure has become worse. Debts increasing, value of security decreasing is a worst nightmare scenario, not just for the banks but for the account holders/savers and shareholders who are the bank. In their efforts to ‘protect’ the vulnerable, i.e. themselves, they have just made the situation worse for everyone.

The President who now sports a pair of Harry Potter look alike specs, must be wishing he had the wand to go with them so that he could ‘wish’ away all these problems.

It will be interesting to see what today brings.


¹  http://cyprus-mail.com/2014/09/04/troika-scores-6-4-on-foreclosures-bill/

Pauline Read


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