Cyprus: the presidential elections and the political and economic situation The global crisis of capitalism, including rising inflation, the devastating consequences of the war in Ukraine, the slowdown of the global economy and the second recession in just three years, has also been felt in Cyprus. This has provoked a number of important workers’ struggles. This rising class tension and polarisation set the tone for the recent presidential elections.
After parliament rejects bail-out what is the solution to the crisis in Cyprus? Marx wrote in the 18th Brumaire that history repeats itself first as a tragedy and then as a farce. This is what is happening in Cyprus. We are witnessing a situation similar to two years ago when the EU put pressure on Greece to accept a bail-out, but this time around 56 Cypriot politicians have created a huge problem for capitalists across Europe.
“Extreme Emergency” in Cyprus – New Stage in the European Crisis The Governor of the Bank of England, Mervyn King, once said that it was not rational to start a bank run but rational to participate in one once it started. These words of wisdom have once again become reality.
