Another, less known reason why Cyprus collapsed

This “incident” cost the government of Cyprus over 3 BILLION euros

Cyprus has the most expensive electricity in Europe.

The Evangelos Florakis Naval Base explosion was the worst peacetime military accident ever recorded in Cyprus. The incident occurred on 11 July 2011, when 98 containers of explosives that had been stored for 2½ years on the Evangelos Florakis Naval Base near Zygi detonated.

The resulting explosion killed 13 people, 12 of them immediately, including Captain Andreas Ioannides, the Commander of the Navy (Cyprus’s most senior naval officer), and the base commander, Lambros Lambrou. Also killed were four navy personnel and six firefighters, while a further 62 people were injured. The explosion severely damaged hundreds of nearby buildings including all of the buildings in Zygi the island’s largest power station, responsible for supplying over half of Cyprus’ electricity. As a result, much of Cyprus was without power in the immediate aftermath of the incident and rolling blackouts were initiated in order to conserve supplies.

According to a list of the largest artificial non-nuclear explosions, the explosion was the 4th largest accidental explosion and 7th largest overall.

In open storage on the base were 98 containers of explosives that had been seized by the United States Navy in 2009 after it intercepted a Cypriot-flagged, Russian owned vessel, the MV Monchegorsk travelling from Iran to Syria in the Red Sea. According to leaked US cables through WikiLeaks, released in 2011, the US through Hillary Clinton exerted pressure on Cyprus to confiscate the shipment. The ship was escorted to a Cypriot port and the Cyprus Navy was given responsibility for the explosives, which it moved to the Evangelos Florakis a month later. At the time of the incident in 2011, the explosives had apparently been left in the open for over two years. The Cypriot government had declined offers from Germany, the United Kingdom and the United States to remove or dispose of the material, having feared an adverse reaction from Syria. The government had instead requested that the UN effect the removal, but claimed that its request had been rejected.

The Vasilikos Power Station, the largest power facility on Cyprus, which provided approximately half the island’s electricity, was severely damaged, causing widespread power cuts.

Several thousand people upset by the Cypriot government’s failure to dispose of the explosives held a demonstration in the capital Nicosia on 12 July. A group of about fifty broke away from the demonstration and stormed the grounds of the Presidential Palace, demanding the resignation of Dimitris Christofias, President of Cyprus. The breakaway group was almost immediately apprehended by the Cyprus Police, who nonetheless used tear gas ten minutes after the incident had begun in an attempt to disperse the crowds.

Of Cyprus’ US$ 24.66 bn economy, the EU estimates that the cost of explosion to the island could amount to US$ 2.83 bn, with cost of the power plant itself coming to US$ 992m.

This was weeks before the Bank of Cyprus and other business leaders said “deep spending cuts are needed fast.”

Many, many russians have deposited black money in Cyprus.

Simply put… they can’t get into Syria as long as this money stream is flowing through Cyprus.

Ruskies have at least 50 billion euros stalled in Cyprus.

And that’s only an estimate.




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  • the cook

    the more i see whats going on,the more the agenda becomes clearer,this whole cyprus gig is an experiment to see what the people will do and how they react,who wants to be a guinea pig? let it crash and burn and start hanging these lying cheating,thievieing bastards,the world is in the shit because of this mob,privately owned corparation lending money to the governments of the world and chargeing interest,so you and me can be slaves,have alook around yourself,your getting fucked,it’s time to change the system fom the top down,every world leader should be made to explain why they borrow their own currency,when they could just print it themselves interest free.hang the bastards.

    • mick

      Dismiss all Reserve Banks ! Use a Guillotine if they don’t go when asked !

    • Mark Page

      Those in the UK should have a long hard look at the shareholders of the Bank of England – oh wait, you can’t because it’s an official secret – now why would that be? Hint: Rothschild.

      • Joe Ensminger

        List of non-Rothchild controlled country currencies as of 2001:
        North Korea
        Currently 3 of the above are no longer on the list. Guess which three. Then guess who is next in line for war? These arent coincidences people.

  • ThePurpleCrab

    Yes, Cyprus is a test case on asset seizure, I can’t wait to see what happens, 401K’s are in the future plan.

  • abe parker

    then too, most of us think we are “free” while they chain us with our hard earned money eroded in “services”, high interest on loans etc

  • ddearborn

    So obviously it is NOT OK for Russia to supply Syria with weapons. BUT….it is OK for the US to supply terrorists with weapons to attack Syria. If the US had not invaded the entire middle east. And the US had not spent 4 trillion we didn’t have on these wars but instead took half that money and reinvested in the US for infrastructure rebuilding we would not have all these banks robbing the people under the guise of debt repayment.

    • Shebel

      Kill another nigger now-
      It don’t much matter anyhow.
      Something is dreadfully WRONG.

      In the USA.

  • Gambling Man

    “Russians” once again being code for Israelis, I’ll wager.

  • WotAWarld

    I could see confiscating some of the bank savings of people using Cypress as a tax haven, and all of the bank savings of people using Cypress to launder the proceeds of crime or to convert their country’s foreign aid receipts into personal wealth.

    But this tax applies to all deposits, including regular retired people with a few thousand on deposit. I could see maybe perhaps applying it to deposits over $100,000.

    Few legitimate investors are going to put over $100,000 into a savings or chequing account. (And that is probably why Cypress went for this, the wealthy have their money in real estate, businesses, stocks, mutual funds, and bank bonds — not savings and chequing accounts.)

    • ddearborn

      I guess the notion of innocence until proven guilty, due process, contract law, etc don’t apply to bankers when it comes to depositors.