By Stavros I. Charalambous
With the recourse of Cyprus to the EU support mechanism In order to be able to stand on its own two feet after the great budget deficits of our state and the recapitalization of our banks, I remembered the self-washing of ourselves for the quick business genius of the Cypriots.
I remembered that one could become a hotelier, restaurant, contractor, developer, big shopkeeper, big farmer.
He did not need any qualifications to become a hotelier, he just had some fields on the beach and he automatically became a hotelier.
He did not need any qualifications to become a restaurant, he just had to be a waiter and he automatically became a restaurant.
One did not need any special qualifications to become a contractor, as long as one had a trowel and was a builder.
You did not need any special qualifications to become a developer, it is enough to be a little smart to take the money from the prospective buyers of villas in advance and to invest your money on the condition that you would hand them over with title deeds etc. without doing this most of the time.
And all this well and Agia, they saved it, some used this money for long trips to buy luxury cars, the construction of large houses that looked like palaces and deposited some money in foreign banks. So the aristocracy of some businessmen grew.
They never thought of allocating any of their profits to modernization, innovation, research, renovations, to their businesses, training and education of their staff as the right and successful entrepreneurs do for serious and long-term guaranteed businesses.
So the bubble business I banged on with a lot of street workers and unemployment.
To verify the saying "the good shipowner in the storms is seen".
So these things happened on the blessed island of Cyprus or otherwise batania which, combined with the bad and backward rule of the communist Dimitris Christofias and AKEL, unfortunately led us to bankruptcy.