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| Anastasiades and Merkel. When two assholes talk get out of the way. The result is always foul odour! |
The size of the country’s economy is only about $17 billion which is equal to what the Americans spend in Afghanistan in eight weeks. In the greater scheme of things $17 billion is not even a drop in the bucket, so making an example of Cyprus by enforcing such idiotic terms did not seem to be much of a risk for greater Europe; or so the Germans thought.
The problem lies in the fact that this move by the EU and
IMF, is not only idiotic, it is also ILLEGAL. By the EU’s own deposit guarantee laws those deposits are protected. Furthermore, the move sets a very bad precedent
and an irrevocable one at that. By the
end of 2013 the economies of England and France will be drowning in the same financial
shithole as that of Cyprus, Spain, Portugal Italy and Greece. What will the Germans do then? Will Angela Merkel and Chrisine Legarde have
the balls to enforce the same rules and conditions on Italy Spain and France or
even Greece? I don’t think so. They [Merkel/Legarde] would have to grow balls the
size of a truck and made of tungsten or Iridium.
One can’t help but wonder what would happen if the imbecilic, con artist lying president of Cyprus woke up and demanded
from the EU to enforce ex post facto the same conditions on Ireland, Portugal,
Spain and Greece? How well receiving will those countries be to that idea? What is that you said…Europe
no more? Collapse of EU as an Economic Union? Collapse of the German economy?
End of the European Union as we know it?
In this writer’s view the answer is ALL of the above. The Cypriot people should not have to lose their savings or any part of those savings in order to save the fucking vultures who ran the banks into the abyss. C'mon Cyprus...stand tall and kick some European ass.
Again This Is Not News…It’s Financial Realities
Cypern är grekiskt vad du dig förväntar
ReplyDeleteIt is a stupid move Dr. P, and you are absolutely correct in stating that it will be setting a precedent. The ramifications of a such a belligerent move can only make things worse not only in Cyprus but all across Europe. Investors will not be willing to risk money in European banks when at the stroke of a German pen, their $$$$$$ can disappear. Germany cannot protect her own financial and social cohesiveness by destroying the same in the rest of the Union. Nobody denies that "dirty" money finds its way into Cypriot banks, not only from Russians but Germans, Dutch, Italians, Arabs Chinese and every ethnic group on the planet. Accept however, that those same nationals have "dirty" money in German banks, Swiss banks, Italian banks American banks and every bank which accept foreign deposits. There are more "dirty" money in a single Turkish bank than there is in all of Cyprus. The Caribbean Islands, Mexican, Central and South American banks have been accepting "dirty" deposits since the inception of cross-border banking. Why is Cyprus the "chosen one" for punishment if not, as Dr. P suggests, simply for political reasons intended to alleviate domestic political discontent in Germany. I think the Dr. is spot on.
ReplyDeleteAnonymous March 18, I couldn't agree with you more. You my friend have covered it ALL. All the truth and Real intent of the Germans and IMF
ReplyDeleteKopelia M
NJ
It looks like the Nazis once again have underestimated the resolve of a people. The sad thing is that even if the EU retracts the stupid conditions they imposed on the people of Cyprus, the seeds of fear and suspicion have already been planted in the rest of the European countries. Nice going there Fräulein Merkel nice going.
ReplyDeleteAs always good stuff Kong.
Petrov
I was in Cyprus from 1980-1985. The economy was booming and the Cypriot pound was stronger than the British pound and US dollar. Why in heaven did these people decide to become a German colony is beyond me.
ReplyDeleteBruce S
Montreal
Leave it to the Europeans to fuck up any chance we had for a real recovery. What a group of degenerate assholes.
ReplyDelete