THE GOVERNMENT AND THE PARLIAMENT LACK OF COMPROMISE ON THE EUROPEAN UNION MEASURES OVER THE CONTROVERSIAL FINANCE CRISIS IN CYPRUS BANK SECTOR.

THE GOVERNMENT AND THE PARLIAMENT LACK OF COMPROMISE ON THE EUROPEAN UNION MEASURES OVER THE CONTROVERSIAL FINANCE CRISIS IN CYPRUS BANK SECTOR.

      Citizens in Cyprus have remained confused as the European Union finance measures have begun to take effect with the government acceptance, despite the Parliament repeated rejection of the measures that may change the majority government members of Parliament to Opposition members of Parliament, due to the controversial finance crisis in Cyprus bank sector. However, the European Union government emphasized the requirement to impose the measures it believed would solve the finance crisis in the Eurozone country that automatically became a European Union member country after Greece acceptance to the Union. The allocated sum of ten billion euros in bailout for Cyprus after compliance with the European Union measures that have qualified Cyprus for future European Union Rescue Packages will exempt savings in bank accounts that are less than the specified amount of a hundred thousand euros, but will increase deduction on the saving accounts that are worth the sum of a hundred thousand euros, or over by thirty percent (30%). Russia has on the other hand complained bitterly against the European Union measures as theft and measures that will spoil Europe's favorite investment country.

                                         Written by Professor Godfrey Ohia.