Cyprus: The mouse that went boom

Yet more interesting times.

You’ve got to feel for Cyprus.  The island starts out divided between Greek Cyprus and “Turkish Northern Cyprus,” an entity created by a Turkish armed invasion in 1974 and recognized by, well, Turkey.  With her historical Greek roots, Greek Cyprus – an independent nation – has extensive exposure to Greek government bonds, and has been fighting a rearguard action throughout 2011 to prevent a faster downgrading of Cypriot public debt.  (Some US states now face a somewhat similar potential domino effect from the downgrading of US debt.)

Arms and the explosion

Back in January 2009, Cyprus was the unfortunate flag state of the M/V Monchegorsk, chartered by Iran to transport arms to Syria in violation of UN Security Council Resolution 1747. Continue reading “Cyprus: The mouse that went boom”