Cyprus will have its $ 10 billion loan, while the other half hopes in the failure to attract capital

At the end the loan of 10 billion will come . This has been decided after an exstraordinary night meeting of the Eurogroup, all to avoid arriving on Tuesday with bank accounts still stuck. Greece is among the sponsors for the gradual return of the loan, chosen for its proximity to the historic island, divided in two by the rivalry with Turkey.

What about the other half of the island? The Turkish Republic of Northern Cyprus, recognized only by the Erdogan government has tried to reunify the Greek half of the island in a referendum in 2004, promoted by UN chief Kofi Annan. 65% of Turkish Cypriots were in favor of unification, but the project failed because of the Greek part refusal.

After almost 10 years, the choice seems to be able to change the structure of the island, divided for a long time. The bailout troika does not concern the Turkish side, where the reopening of the bank trade could upset the economic balance of the island. Although Cyprus has been a member of the European Union since 2004, Northern Cyprus has retained its full independence, although it is recognized as a puppet state.

But the puppet state will not be asked the compulsory levy of 30% on the accounts above € 100,000 and this may convince the Russian investors, one of the major keepers of funds above € 100,000, to bring their capital to the northern part of the island, displacing the influence of Cyprus outside the European Union and deviating it to Turkey, one of the UE member candidates , but that seems more and more interested in creating its own independent international space.

Russia would rather establish commercial and financial relations with Turkey, so areas of interest to the Mediterranean would open up and the European Union could rally around a tight grip related to energy supply.
Once again, the European Union shows political myopia and takes the opportunity to cast new doubts on the international market about a monster that combines markets but not political choices.