As we know, economic austerity is the explanation used by the world financial system for the foreign debt. A democracy based in freedom and respect for the Cyprus citizens contributes to reach peace for all the social classes. The political economy austerity was for the United States a huge budget gain to create and spread the dollar currency to the business market through wars that are funded by the most rich international banks.
The great propaganda made by the U.S Government towards to the unification of the coin brings up issues before considered an economic domestic problem to an international economic problem. The developed countries made some economic counter-cyclical policies that worked in the short and medium term but no more for the long-term economic stability. The Cyprus Government created a chaotic and unsustainable situation for their policy makers about the economic pillars that determine social stability for the country.
It’s time to spread the political economy concept to the foreign international relations instead of the governments commercial agenda through WCO (World Commercial Organization) and recognize that Cyprus is moving forward to recover their reserve of dollar and the bank savings of their people but the problem is still the political sovereign. The Cyprus financial bailouts requests a fair analysis about how the Cypriot Government might allow the international banks emptying the safe deposit-box of their national banks and causing pain and fear to their citizens and the European Union.
The international financial taxes points to an unclear economic scenario for foreign direct investment and financial flows of capital in the country for years to come. To make the things worse, bitcoin is the newest pledge to strengthen the economy of Cyprus and, at the same time, the main responsible for the Illicit goods are currently being advertised on hidden services like hitmen, drugs, pornography, state and industrial espionage, theft, hacking and money laundering. There is no currency limit for a regular user by the bitcoin and that is no regimentation by the European Central Bank.
Many economic international analysts say this currency could be the first shopping option for the world countries soon (Cyprus has 99% of bitcoins utilization by their citizens in regular shopping). So, the world financial system excludes the participants of the capitalist game that begging for better health, education and basic sanitation.
The technocrats (politicians) and the financiers (the most rich international banks) will be arguing until them solve the 2008 economic crisis without the currency devaluation policies and the economic trade barriers, but the serious gap between profit and poverty will gain a next chapter for the world political economy history. What will be the economic and social gain to Cyprus citizens when the international banks take the control for the minority banks around the world?
Written By: Tiago Silveira