It’s about the gas stupid! A timeline of developments thus far.
- March 19th Cyprus rejects first bailout solution.
- March 21st: Ocalan declares ceasefire (a long and consuming Kurd – Turkey conflict is over)
- March 22nd: Netanyahou and Erdogan sweet talk (the “apology”)
- March 24th: Cyprus agrees on EU plan
- March 25th: Russia being pushed out of the Mediterranean market as Cyprus was their only option after more than likely Tartus is lost, Russia gets to market Israeli gas to the Asian market as their ‘bonus’ Gazprom deal is signed
And here’s what sources say has been set in motion.
- Destruction of Cyprus’ banking sector and thereby their economy
- Diverting focus from Cyprus from gas to managing a humanitarian crisis
- Project unified Cyprus (Annan plan) strongly supported by EU, US and Turkey comes to life and has a better chance of being accepted by now impoverished Greek Cyprus
- Turkey gets their long searched share of Cyprus gas
- Pipeline Nabucco providing the EU with gas runs through North Cyprus
- Russia’s South Stream (supposed to utilise Greek & Cypriot gas resources by running through Cyprus, Greece over to Italy and to the rest of EU) is out
- EU’s dependency on Russian gas (both in terms of volume as well as distribution wise) decreases substantially in the coming years.