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Greek Cyprus' Non-Union Choice? |
17 July 2012by Stanislava Pavľáková, JTW
After the announcement that the Greek Authority of Southern Cyprus would eventually be favored a five-billion euros worth loan from Russia instead of the financial assistance of the European Union, analysts were reminded of one event from the post-World War II period.
It occurred when a demoralized post-war Europe was divided into two geopolitical and economic blocs. The then-democratic government of Czechoslovakia signed up for the U.S. financial aid to Europe called the Marshall Plan in the beginning. However, Prague gave in to Moscow’s pressure to accept a form of emergency assistance from the Soviet Union, and found itself on the east side of the Iron Curtain for the next few decades. In the simplified conclusion, this decision by Czechoslovakia shaped its post-war geopolitical state.
Obviously, this event occurred in a different historical context and the European Union is not an undemocratic, ideological empire of power, nor is Russia waging a Cold War – this is adduced only as an example. Indeed, Greek Cyprus’ squinting at a Russian loan does not knock out the European Union. However, if any of member states prefer financial help from the outside due not only to better conditions, but also because of conditions of assistance not as strict as the Union’s, this can undermine the monetary stability and prosperity of the other member states.
After all, Greek Cyprus holds the presidency of the Council of the European Union in this half of 2012. In the future, its decision could be one signaling changes in the European Union, as was the case in the example of the unsuspecting Czechoslovakia. At the time of the latter’s admission, it did not seem as though some consequences for its future geopolitical positioning would occur. |
17 July 2012
Journal of Turkish Weekly
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