Cyprus Mail
Letters Opinion

European Union, a toothless organisation or a force for reform and stability

Greeks hold European Union and Greek flags during a Pro-Euro rally in front of the parliament building in 2015

EU will do nothing realistic to help solve the mess we are in. It is easy for Turkey to bully Cyprus after all what can Cyprus standing alone do against the might of Turkey. Negotiation means give and take and Turkey can ill afford to really antagonise the EU.

And who exactly will come to rescue Cyprus? My question is what exactly does Turkey want besides the oil/gas in the Med.

For me the EU is a useless organisation which does little to help the poorer southern European nations who are getting progressively impoverished? Covid19 is the final straw. The EU has failed and will probably slowly disintegrate.

This is just my personal view and I know it will upset some. Just look at the condition of the Turkish run part of Cyprus.

MF

Cop responds to the comment…

Either you have no real understanding of why the EU has evolved into being the most successful political union of countries which sought peace and economic prosperity or you purposely close your eyes and ears.

The EU is not to blame for the global financial crisis and in any case the south European countries before joining the EU had double digit inflation and depreciating currencies. They joined to get some discipline and stability in their monetary and fiscal stance. EU entry, especially the eurozone, brought benefits and responsibilities.

It is the politicians in the south who failed their people and did not honour their obligations on fiscal discipline. The bankers were completely out of control and local regulators did not do enough to safeguard their economies. In Cyprus credit expansion reached 30 per cent per annum.

The EU ha been a force for reform and change in the new member states and those countries which embraced reform succeeded. Those that did not, like Italy and Greece, failed miserably. Greece at its worst time during the austerity chose the euro rather than going back to the drachma because Greek depositors remembered what previous Greek governments did when inflation reached 20% per annum.

The EU is not to blame for corrupt and inept politicians.

EU’s Borrell: Cyprus an EU member and Turkey must accept that



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