to The President of the Republic of Cyprus
Mr Nicos Anastasiades
Debt Relief Offering;
Willingness to Restructure Euro Medium Term Notes
Dear Mr. President,
as a Holder of Cyprus Eurobonds and European Citizen I am
affected by our now uncomfortable financial situation.
Since the Eurocrats did not take into accout a proper and sustainable
solution for every party involved in this case, I offer you my personal
debt relief and suggest to bring forward an informal meeting of
noteholders as soon as possible.
The experience with Argentina and her messy restructuring, which has not yet been completed after eleven years of financial battles around the globe, brought many market participiants to a deeper understanding.
The understanding that during a financial turmoil, Debtors, Creditors, Owners, Shareholders, Citizens are sitting in the same sinking boat and have to be rescued ... by themselves.
Only a speedy comprehensive debt restructuring involving all parties and your brave Citizens can bring an acceptable solution, financial stability and a good life for everybody.
Cyprus does not need the IMF or Eurocrats to organize talks and manage her finances. Bondholders are a strong part of Civil Society worldwide and a counter elite, if Brussels or some Capitals fail brainily.
Cyprus is and remains a strong and beloved part of Europe. Your people belong to Europe and must not be misguided. Let us help each other and bring the matter to an amicable end. Let us show the financial world, what we Europeans can.
Stefan Engelsberger, Munich
19 März 2013