Cyprus is not the miracle. The Cypriots are.

There is no such thing as a financial crisis.
It’s the result of a social crisis, a values crisis, a confidence crisis, a how we feel about ourselves crisis. And I am starting to feel that the current European crisis is a crisis of democracy. That the real deficit is a democratic deficit.

Last week Cyprus gave the world some of the best cliffhanging television that it has seen for a long, long time. Part drama, part comedy. Soap opera and epic serial. But tragic. Always tragic. Because it was the story of the collapse of the Cyprus miracle. And the treatment that was handed out from the north smelt of Protestant punishment.

But I have learned something about the Cypriots. You will be back. With another miracle. Because Cyprus is not the miracle. The Cypriots are.


10 thoughts on “Cyprus is not the miracle. The Cypriots are.

  1. Jasmine Merryweather (@JazzyMerry)

    I do hope so Peter. This is so vindictive an attack and I suspect that this weapon (stealing people’s money to pay for the profligacy and bonuses of the banks) has been long in the development and will be used again. I love Cyprus and its people and I often visited that beautiful and friendly island. This article by Ellen Brown is well worth a look if you have not seen it already.

  2. Pingback: Peter Economides on the Cypriot miracle | Politis

  3. Leonidas Palaskas

    Excellent last words….Protestant punishment. You’ re right about the fact that it´s not an economic crisis. It´s a clash of cultures.

  4. Evdokios Evdokiou

    Thanks Peter, In reality we had no chance of being able to fulfill what we hoped for but we made our point clear, that we’ll be trying our best as a whole when push comes to shove. A positive to take out from all this is how the whole community has been united and we share each other’s pain.

  5. Cyprus Mosaics

    yes Cyprus can be reborn- again! lets hope this does not become a time for a reversion to nationalism, when we pretend we, as nations, that we were all too different to ! This often belies a frightening denial of responsibility. Many aspects of human nature are to blame here – greed being the major culprit globally. We are all to blame here, but we can all change. Time to look at real social problems at every level, the loss of real values which cause social disasters like this. Many social indicators have been visible in Cyprus (and worldwide) leading up to this crisis, I don’t think anyone wanted to admit them here, because in Cyprus, too many people were enjoying the good times……and now these people are the first to desert and run away. sad but true

  6. Chris Mathas

    Peter, as all us South Africans know, people are what make a society and not the other way round. I have spent the last thre or so years wondering where the Hellenic spirit has gone to and now I know… it left Greece and found a hom ein the heart and sould of each hard working Cypriot Citizen. The Cypriots will come back, stronger and more unified, and then the world better watch out!


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