The latest news from Cyprus is that those investors with more than 100,000 euros in accounts will take a 40% hit. A so-called "haircut" of their savings, in the form of a one-off tax, will snatch a large chunk of their money and in return the investors will receive shares in the bank. Worthless shares at this time and probably in the future.
Banks on Cyprus remain closed till at least Thursday as E.U. thieves iron out the final details of the financial bail-out. Cypriots will pay a huge price for the incompetence of others.
Most sensible people in Europe have known for some time the E.U. is finished. How to wind it down is now the problem. Members of the new world order, the elite in society, want to protect their own assets and have a vested interest in dragging the death of the E.U. out for as long as possible. President Obama in the U.S., and American politicans, want the joke shop E.U. to continue but it should not be down to people across the Pond who do live in Europe to decide its fate.
Perhaps someone should have heeded a few tried and tested adages during the early days of the European Community. Ones such as: do not put all of your eggs in one basket, too many cooks spoil the broth and beware of Greek's bearing gifts.
The last one may sound a low blow but it has to be said. However Cypriots are being asked to pay too big a price for financial mismangement by others. Why is Cyprus a special case? The E.U. has thrown good money after bad at Greece with less strings attached.
E.U. leaders in Brussels, Chancellor Merkel in Germany and I.M.F., chiefs will have seen this one coming for some time. Surely in a so-called community we should be looking after our neighbours, offering precautionary advice and more. Instead it seems in this case we wanted the people of Cyprus to act as lemmings, diving off a cliff to certain death.
A community? Don't make me laugh, it is every man, woman and child for themselves, and set to get worse.
Cyprus bank deal is theft says Kremlin