Cyprus – A Warning To British Workers

One of the major problems facing Cyprus is the dominance of the banking sector in its economy. A key measure of this relationship is the size of the bank assets of a country compared to its Gross Domestic Product (GDP). Cyprus has bank assets 7.8 times larger than its GDP. This proportion is equaled by Ireland and exceeded by Malta which has a multiple of 8, which was also the multiple which Iceland had in 2008, when its banking system collapsed. The Icelandic people decided not to try and save it, but to let it collapse and start again, with a healthier banking sector which would serve their economy rather than dominate it.

The next highest multiple in the EU is the UK’s, at 5.4. To put this into context the EU average for 27 counties is 3.5, with Germany, Austria, Sweden and Belgium on 3.0 and Greece on 2.2.

During the Thatcher period of manufacturing closures, her economists and ideologues spread the idea that manufacturing was characteristic of less developed economies and the UK could thrive on the service sector, particularly finance and best of all the speculative part. The ‘Big Bang’ deregulation of finance was lauded as a great success, as was the destruction of much of manufacturing.

Blairites continued that philosophy which still holds sway in the current Tory-LibDem coalition. Despite their talk of ‘re-balancing the economy’, a serious plan to re-build Britain’s manufacturing does not exist. Instead there is blind faith in ‘the market’ and the hope that the finance sector will recover. The warning for British workers is clear; don’t trust the government, the banks or the EU. The plan must come from us.

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Liberals & many on the 'left' exaggerate differences between Trump & Biden; click to see what would make a real difference.
There is no effective “freedom” in a society in which working people live in poverty & billionaires live like parasites.
https://m.facebook.com/story.php?story_fbid=10221826359541925&id=1045558919&sfnsn=scwspmo

Biden opposed moves to rebuild Afghanistan, advising a policy of fighting terrorism in the country. He also opposed withdrawal of US troops, which Trump carried out.
https://tolonews.com/afghanistan/biden’s-comments-rile-afghans-internationals

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

Biden's regime will hold on to enclaves in the North East and work alongside Turkish invaders, continuing sanctions against the Syrian government. In general, Biden wants US global leadership, which he sees as being diminished by Trump's inconsistencies.
https://www.atlanticcouncil.org/blogs/menasource/limited-and-constrained-the-biden-administration-and-the-prospects-of-a-syria-policy/

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

Biden intends to have tighter sanctions on DPRK, and to have stricter preconditions with respect to engaging on talks. The Democrat's president also intends to strengthen an alliance against North Korea. https://www.reuters.com/article/us-usa-election-biden-northkorea-analysi/biden-on-north-korea-fewer-summits-tighter-sanctions-same-standoff-idUSKBN25G2QO

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

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