This book tells the story of the euro crisis in Cyprus from the inside. Written by the former Governor of the Central Bank of Cyprus, Panicos Demetriades, who was in office during this turbulent period, this book shows how the crisis unravelled through a series of key events that occurred during his tenure. Written in chronological order, and broadly based on the author’s personal diary, starting from his first day in office, this volume brings together economics, banking, regulation, governance, history, politics and international relations. Presenting personal witness statements, including records of noteworthy telephone conversations, informal meetings and other milestones, it examines crucial questions like: How did Cyprus become so systemically important to the rest of the euro area? Why was Cyprus treated so differently in comparison to other peripheral countries in Europe? Why were bank depositors targeted? What role did Cyprus’ links with Russia play in the design of the programme? What has been the toxic fallout from the bail-in? Are there any longer-term implications for the euro? What are the lessons for regulators around the world? The book will appeal to readers interested in financial crises, the euro’s architecture, the evolution of the European Monetary Union, and those with an interest in how Europe and the IMF dealt with crises in peripheral European countries.
This book provides an in-depth account of the politics of the Eurozone crisis in Italy, Spain, Greece, Portugal, Cyprus and Malta, mapping the positions expressed by the governments of Southern EU countries during the Eurozone crisis negotiations, including Greece’s bailout deal, the so-called “Six Pack” and the “Fiscal Compact” and exploring the process of domestic preference formation. The book relies on original data resulting from fieldwork conducted in the context of the EU Commission- funded Horizon 2020 project “The Choice for Europe since Maastricht”.
Over the past decade central banks have taken on new and expanded roles in an attempt to manage the global financial crisis. Panicos Demetriades, former governor of the Central Bank of Cyprus during the country's bailout in 2013, examines the role of the ECB and its adoption of these new powers.
Book contains over 50 speeches presented or submitted at conferences sponsored by AHI from 1988 to 1999 and submitted articles. It includes important statements from U.S. officials Members of Congress, academics and others. The volume details the responsibility of the U.S. for (1) the illegal coup ordered by the Greek dictator Brigadier General Dimitris Ioannides on July 15, 1974, and (2) Turkey's illegal invasion of Cyprus on July 20, 1974 and the second phase of Turkey's aggression on August 14-16, 1974.
Acknowledgements p. XI Introduction p. 1 Literature Review p. 4 1 The Centre of a Pre-Copernican Universe: A Very Short History of Cyprus p. 11 2 The Road to Disaster: Makarios and the Junta p. 15 3 Coup d'etat in Nicosia: The First 48 Hours p. 21 The Evacuation of Makarios p. 36 Contingency Plans and Delaying Tactics p. 39 4 Joint Intervention? p. 49 Kissinger's 'pet idea' - The Clerides Solution p. 56 Downing Street Meeting, 17 July 1974 p. 57 5 'Promoting a solution which will be in US interests', 18 July 1974 p. 65 6 Sisco in Athens and Ankara: Kissinger's Failure to Restrain the Turks, 19 July 1974 p. 75 Makarios at the Security Council p. 87 NATO's Attitude toward the Crisis p. 89 7 'A new ballgame': Turkey's First Military Operation p. 91 8 The First Two 'Ceasefires', 21 and 22 July 1974: The Road to the First Geneva Conference p. 105 The Sinking of the Kocatepe p. 111 Anglo-Turkish Confrontation at Kyrenia, 22 - 23 July 1974 p. 112 9 'A net gain for the West': Political Implications of the Turkish Military Operation p. 117 10 Further Anglo-Turkish Confrontation, 23-26 July 1974 p. 125 Confrontation at Nicosia Airport p. 126 11 Blockade of Northern Cyprus? The First Major Anglo-American Rift p. 133 12 The Danger for Turkish Cypriot Communities p. 139 13 First Geneva Conference, 25-30 July 1974 p. 147 The Eviction of the UN from Kyrenia - Britain Considers Military Intervention p. 162 The Final Phase at Geneva p. 165 14 Between the Talks, 1-12 August 1974 p. 171 15 Second Geneva Conference, 8-13 August 1974 p. 181 The Kissinger Solution - Cantonal Proposal p. 195 'There is no American reason why the Turks should not have one-third of Cyprus' - Final US Efforts to Save the Conference p. 210 The Final Showdown p. 213 16 Stopping the Turks? Final Debates on British/UNFICYP Military Intervention and a Greek Convoy p. 217 17 War, 14-16 August 1974 p. 225 Confrontation at Ayios Nikolaos, 15 August 1974 - The Last Possible Anglo-Turkish Showdown or the 'Trigger-Happy' Commander p. 230 Diplomatic Activities p. 231 The Final Day, 16 August 1974 p. 238 18 Big and Little Lies: Conspiracy Theories Gain Ground p. 241 Anglo-Turkish Collusion or Anglo-Greek Collusion? - The Evacuation of Officers from the British Bases p. 244 'If these attitudes continue we will wash our hands of the whole thing' - The Death of Roger Davies p. 246 19 Permitting Racial Separation: Attempts at Post-Crisis Management p. 249 A Present for Secretary Kissinger - Greek-Cypriot Territory as a Bargaining Chip p. 254 'A hard character with not much charity in his soul' - A Change in Turkish Attitude p. 256 Tyler's Mission to Athens - No Chance for a Solution p. 260 20 Refugees and War Crimes p. 265 Refugees on the British Bases p. 266 Population Exchange p. 272 Exchange of Prisoners p. 273 Missing Persons - and other War Crimes p. 274 21 Beyond the Crisis: Cyprus from Cold War to Annan p. 281 Conclusion: 'There is no nation of maniacs I don't get involved in': Henry Kissinger's Idiosyncratic Methods of Working p. 289 Annexes p. 299 Notes p. 305 Bibliography p. 353 Index p. 361.
Lord Derby (1826-93) was at the centre of things. His father, the 14th Earl, had been thrice prime minister, as well as the longest serving English party leader of modern times. The 15th Earl was the only minister to serve in the cabinets of both Gladstone and Disraeli. As a diarist, he was probably the fullest and most informative "fly on the wall" of the great world in the second half of the nineteenth century. The diaries began in 1849, and continued with only slight breaks to his death in 1893. Most pages were nearly full, and filled shrewdly, fairly, and intelligently. The diaries should convince us that there never was such a thing as a harmonious cabinet. The most important man in Lancashire, and a landowner on a great scale, Derby records the minutiae of a vanished way of life, that of the great Victorian nobleman dedicated to public service, as faithfully as he does momentous arguments in the cabinet. These diaries may provide a quarry for the social as much as for the political history of the upper classes; and an intelligent commentary on the people and events of aristocratic parliamentary government in its final phase. Conversation has tended to be the missing link in history. These diaries take us a useful step along the road from "who wrote what?" to "who said what?".
An examination, from the Turkish viewpoint, of the recent history of Cyprus and the legal issues raised in connection with developments that took place there after 1963. The author also discusses events of the 1980s with details of political negotiations up to the early months of 1988.