Original Article Post Date:
The Cyprus Eurocrisis: The Beginning of the End of the Eurozone?
Nicos Trimikliniotis, Centre for Research on Globalisation, 26 March 2013
The Cyprus crisis is essentially a Eurozone crisis which threatens the very foundations of the European Union (EU). This small island economy, only 0.2 per cent of the Eurozone, is proving to be ‘systemic’ at the political, social and economic level. The Cyprus crisis is a manifestation of a deep crisis of democracy and equality in EU institutions, which subordinates the democratic will of the people to finance interests. More significantly, it is threatening the European integration project itself as it is only the beginning of a process.