Marx wrote in the 18th Brumaire that history repeats itself first as a tragedy and then as a farce. This is what is happening in Cyprus. We are witnessing a situation similar to two years ago when the EU put pressure on Greece to accept a bail-out, but this time around 56 Cypriot politicians have created a huge problem for capitalists across Europe.

Cyprus is a small rarity in the Mediterranean sea. It's a country where the Communist Party (Workers' Progressive Party, AKEL) has strong roots in the labour movement and society as a whole and holds the Presidency of the Republic, as well as being the first party in parliament.

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