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An appropriate European Union response to tensions in the Eastern Mediterranean
An appropriate European Union response to tensions in the Eastern Mediterranean If the European Union can mediate effectively to resolve current Greek-Turkish tensions over energy in the Eastern Mediterranean, it could also provide an opportunity to tackle more deep-rooted problems. The European Union is seeking to mediate in a naval confrontation on its doorstep, in […]
Mediterranean Oil Tensions Are Boiling Over
Mediterranean Oil Tensions Are Boiling Over Under pressure in Libya–where it’s gone head-to-head with General Haftar in an ongoing battle to decide who gets to ultimately control the country’s oil revenues–and floundering in Syria, Turkey is once again upping the ante in the Mediterranean, this time preparing to issue new oil and gas exploration licenses […]
The Mediterranean Pipeline Wars Are Heating Up
The Mediterranean Pipeline Wars Are Heating Up Things have been quite active in the Eastern Mediterranean lately, with Israel, Cyprus and Greece pushing forward for the realization of the EastMed pipeline, a new gas conduit destined to diversify Europe’s natural gas sources and find a long-term reliable market outlet for all the recent Mediterranean gas […]
Geopolitical Stakes Are Huge On This Tiny Island
Geopolitical Stakes Are Huge On This Tiny Island The specter of a rumored U.S. military buildup in Cyprus that would draw a major Russian response now adds to the ongoing Greek Cypriot-Turkish conflict over the island and the oil and gas riches it promises. Ever since the massive hydrocarbon discovery in Cyprus’ exclusive economic zone […]
Turkey Vows To Make “Sea Bandits” Drilling Gas Off Cyprus Pay “Like Terrorists In Syria Did”
Turkey Vows To Make “Sea Bandits” Drilling Gas Off Cyprus Pay “Like Terrorists In Syria Did” Ankara will not allow any “sea bandits” to roam free and tap the disputed natural gas reserves off Cyprus, Turkey’s president has vowed, while commissioning a new warship to challenge competitors militarily, should the need arise. “We will not […]
A new flashpoint in the Mediterranean deepens the conflict between Turkey, Cyprus and Greece
A new flashpoint in the Mediterranean deepens the conflict between Turkey, Cyprus and Greece The conflict over gas in the eastern Mediterranean is intensifying. In February, the first case of intervention by the Turkish navy took place in the Exclusive Economic Zone (EEZ) of Cyprus. Last month, two more flashpoints have appeared. The dispute concerns […]
The Biggest Winners In The Mediterranean Energy War
The Biggest Winners In The Mediterranean Energy War Former Vice-President of the United States Dick Cheney once said: “the good lord didn’t see fit to put oil and gas only where there are democratically elected states… Occasionally we have to operate in places where, all considered, one would not normally choose to go. But we […]
Déjà vu: the gas conflict around Cyprus is getting worse
Déjà vu: the gas conflict around Cyprus is getting worse In early October, the Cypriot government invited tenders for gas extraction in Block 7.1)Ankara believes that this step impairs the interests of both Turkey and the Turkish Cypriots and announced that remedial measures will be taken, which might entail an escalation of tensions in this […]
Erdogan: Cyprus Oil Drilling Is A Security Threat To East Mediterranean
Erdogan: Cyprus Oil Drilling Is A Security Threat To East Mediterranean The Eastern Mediterranean will face a security threat should Cyprus continue its unilateral operations of offshore oil and gas exploration in the region, Turkey’s President Recep Tayyip Erdo?an said in a speech at think tank Chatham House in London on Monday. Turkey, which recognizes […]
Turkey Threatens Exxon Mobil & The US 6th Fleet Off Cyprus
Turkey Threatens Exxon Mobil & The US 6th Fleet Off Cyprus Turkish Prime Minister Binali Yıldırım threatened not only hydrocarbon survey ships of oil giant Exxon Mobile but also the US 6th Fleet is participating in a naval exercise in the area 7-18 March 2018. As KeepTalkingGreece.com reports, Yildirim said: “The Republic of Cyprus would […]
U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus
U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus The U.S. Navy has increased its Mediterranean fleet, just a couple of weeks before Exxon is due to send two surveying vessels to explore offshore Cyprus near the area where Turkey blocked an Eni drilling ship from prospecting in February, Turkish news outlet […]
Turkish Warships Block Cypriot Drilling Rig In Dispute Over Mediterranean Gas Field
Turkish Warships Block Cypriot Drilling Rig In Dispute Over Mediterranean Gas Field Amid escalating tensions between Cyprus and Turkey in the Mediterranean Sea, the two countries could be headed towards a resource war. On Monday, the Cypriot government released a report according to which Turkish warships continue to heavily restrict one of its deepwater drilling […]
Lies, Damn Lies, and European Growth Statistics
Lies, Damn Lies, and European Growth Statistics ATHENS – “Greece has at last returned to economic growth.” That was the official European Union storyline at the end of 2014. Alas, Greek voters, unimpressed by this rejoicing, ousted the incumbent government and, in January 2015, voted for a new administration in which I served as finance […]
Capital Controls Are Coming
Capital Controls Are Coming The carnage always comes by surprise, often on an otherwise ordinary Saturday morning… The government declares a surprise bank holiday. It shuts all the banks. It imposes capital controls to stop citizens from taking their money out of the country. Cash-sniffing dogs, which make drug-sniffing dogs look friendly, show up at […]
Brave New World of Bank Bail-Ins As Of January 1st
Brave New World of Bank Bail-Ins As Of January 1st On January 1st, 2016, the new bail-in regime became law putting at risk the deposits of savers and companies in the EU. EU countries join the UK, the U.S., Canada, Australia and New Zealand in having plans for bail-ins in the event of banks and other […]
