Interpreting Middle East Economic News and Analyzing Market Trends

Category: Turkey

US tells Iraq to stop allowing Iran supply flights to Syria over its airspace while it pushes ahead with arming rebels

It is no secret that the CIA has been helping the rebels in Syria.  Initially, the US gave the green light to Saudi Arabia and Qatar to send aid and military supplies to the rebels, but two years on and frustration growing, the US is becoming more aggressive.  As the US increases its support for the rebels, it is now asking Iraq to stop allowing Iranian supply planes to fly over Iraq in an attempt to halt Iran’s aid to Assad’s regime.  Will Iraq comply?  No.

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Last-minute Cyprus deal approved without vote, offshore finance industry killed in the process

The President of Cyprus reached a last-minute deal with EU technocrats representing the European Union, the European Central Bank and the International Monetary Fund, known as the Troika.  The deal calls for stealing deposits from the wealthiest depositors in the two largest banks.  Depositors at smaller banks are saved for now.  The President’s friends are safe since he instructed them to take their money out of Cyprus last week.  In the end, the Troika gets its two wishes; 1. collect money for its clients (EU banks and investors), 2. kills Cyprus’s offshore financial center.  In the process, Cyprus snubs Russia and Turkey.  Here’s more from Reuters:

   

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