Quote:
The decision to expropriate Cypriot savers – even the poorest – was imposed by Germany, Holland, Finland, Austria, and Slovakia, whose only care at this stage is to assuage bail-out fatigue at home and avoid their own political crises.
The EU creditor states have at a single stroke violated the principle that insured EU bank deposits of up $100,000 will be guaranteed come what may, and in doing so they have more or less thrown Portugal under a bus.
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http://blogs.telegraph.co.uk/finance...-to-haunt-emu/
---------- Post added at 13:49 ---------- Previous post was at 13:45 ----------
Quote:
Originally Posted by Sirius
I hope Germany and France are happy with how they are treating the smaller countries  |
Not France - not this time, anyway - they are in danger of needing a bail-out themselves at some point. The creditor states are the ones identified in my quote above.