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Looking back at the year 2011 in Cyprus

Many argue that this year is the most memorable in Cypriot history since a number of significant changes have taken place. However, can all this lead to a political, social and financial crisis? Let’s take a look at the events and their impact on the island.

Firstly, Greece has been in a crisis for quite a while now. During their struggle, Cyprus has experienced a number of financial problems, due to close-knit connections in industry and banking. Furthermore, a crisis in many other countries meant that the tourism industry suffered immensely. Many hotels closed down, and thousands were left unemployed when Cyprus failed to attract the expected number of visitors. All of this consequently led to a 5.1% budget deficit, which compared to other Eurozone countries isn’t that bad but is bad nonetheless.

Another very significant event was the explosion at Mari, which not only led to the death of 13 people but also blew up the main power station in Cyprus. This not only led to consistent power-cuts (in the middle of a boiling summer) but also to numerous political tensions as many blamed President Christofias for being too reckless and not reacting to numerous pleas from the Mari base to relocate the explosive containers in order to avoid disaster.

Thousands went out in front of the Presidential Palace asking for Christofias to resign. Their outcry, however, was not heard. They did change around a few ministers and placed the blame on different people such as the minister of internal affairs who is still undergoing investigation. De facto, however, things remained quite the same and now the whole of the Cypriot population holds their breath in anticipation of what will happen when Cyprus takes the presidency of the EU on July 1st, 2012.

And as if this was not enough, the Occupy movement has spread to Nicosia, campaigning for the removal of the borders and UN armies from Cyprus. This puts even further pressures on the government, which is currently clueless about what to do. With Turkey’s membership to the EU in question, who knows what will happen next.

Published Monday, December 19, 2011, 5:09 PM by Cleo Shahateet

Filed under: financial crisis Cyprus, Paphos Cyprus, explosion Mari, Cyprus 2011, Cypriot president, Cyprus EU presidency 2012, occupy Nicosia


Cleo Shahateet

Blogger and realtor. Business and marketing passionate.

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