DAY 60: Don't shoot the Messenger

Cypriot banks are finally opening their doors, nearly two weeks after they closed; progressively stricter limits have been placed on all banking transactions, and armed police have been deployed to “keep the peace.”

Severe new rules have been imposed on money movements to prevent a torrent of money leaving the island, and credit institutions collapsing.

I’ve been ‘married’ to the internet this morning, reading every bit of information from numerous sources. The majority of these publications outline the severe austerity measures imposed by the banks, echoing economic restrictions similar to those enforced by the pre-apartheid South African government. 

I am in favour of the Central Bank of Cyprus enforcing restrictive measures in order to avoid a mass exodus of funds, however, the unprecedented restrictions represent a profound breach of an important principle of the European Union: “capital, as well as people and trade, should able be to move freely across internal borders.”

Facebook also serves as an informative, to-the-minute source, as thousands of people post on their walls their own opinions over the Cypriot financial controversy.  The unanimous verdict is one of anger; after all, this is a community which continues to suffer under the oppression of ruthless powers, stripping them of their possessions. 

In 1974, the unlawful invasion of Turkey expelled the Greek Cypriots to the southern corners of the island, and a third of the country falling to the hands of the enemy; a barbed wire fence now separates the internationally-recognised south from the occupied northern areas – acknowledged only by Turkey as the “Northern Republic of Cyprus.”

Most of the comments which followed highlighted the possibility of turmoil when the banks opened their doors at noon.  The anger manifested within the Cypriots has mushroomed into a volcanic mountain on the verge of eruption.  But the message conveyed by another, appealed to the public “not to shoot the messenger.” 

To be honest, my initial response was to head over to my branch, hoping to enforce mayhem and destruction.  However, the sympathetic plea reminded me that the banking staff was not accountable for the procedures outlined to them by higher management. On the contrary, they were merely following instructions – it’s the higher management that needs to face the firing squad.

One hour before the banks bravely lift their veils and a multitude of people have already lined the streets. Cyprus Finance Minister Michalis Sarris insists the controls are temporary, but many economists predict they could be in place for months.  Whatever the outcome, our banking sector has been tarnished and unfortunately Cyprus will have to pay the price.

“Don’t shoot the messenger.” Cyprus as an island should not have to suffer at the fate of its collapsed banking system. We are still proud of our culture, world-renowned for our hospitality, delighted with our five-star hotels and resorts, and eager to welcome anyone to our island. 

When Nelson Mandela was inaugurated as the first democratically-elected president of South Africa, he commented on the past by saying: “Wat is verby, is verby,” what's past is past.  The Cypriot nation is determined, now more than ever, to rebuild their island and open a new chapter in their history books.

Weight for me tomorrow. Paul

Paul Lambis is the author of “Where is Home?” – A journey of hilarious contrasts.  For more information on Paul Lambis, and to order his book online,
visit www.paul-lambis.com