Tuesday, March 19, 2013

Cyprus not playing by EU rules

Banks remain closed today and tomorrow in Cyprus. If EU powers thought Cypriots would lay down and accept the skimming of personal bank accounts as part of a national bailout, there's increasing indications they were wrong:
Cypriot President Nicos Anastasiades held a telephone conversation with European Economic and Monetary Affairs Commissioner Olli Rehn on Monday night to inform him that there might not be enough parliamentary support for a deposit tax on the island.
Things sure can get messy when banks and government get sloppy with money, and then assume they're entitled to take a chunk of cash from someone else to help smooth over their own affairs.

No comments:

Post a Comment