Are You Watching The Proxy War Brewing In Cyprus?

I’ve been following events in Cyprus for the past few months. I wrote about this on 8/1.

In that piece I concluded that an EU led bailout of Cyprus was right around the corner.

As it turns out, I was way off the mark.

There has been a series of developments.

It’s an interesting tale.

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From the UK Guardian:

A man believed to be one of Russia’s most capable agents, arrested in Cyprus this week as a suspect in the spy ring, has almost certainly fled the island, the justice minister, Loucas Louca, said…

Less than 72 hours after he was last seen on Cyprus, speculation is mounting that Christopher Metsos, the alleged paymaster of a Russian network operating under deep cover in the US, was allowed to “disappear” by a government which caved in to pressure from Russia.

This is a nutty story. It shows what a complex world we live in. It also confirms how unstable the middle east is these days. It shows that the big powers are still butting heads. This is a stupid issue for drones and submarines to be getting involved. Especially when they’re Russian and US equipment.

This map shows that Cyprus is geographically right in the middle of some dangerous territory. We don’t need another reminder that the Middle East and hydrocarbons keep getting us in trouble.  Do we?

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This post originally appeared on My Take on Financial Events.

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