Quote:
Originally Posted by Damien
They're doing it because they have to give another country more money and they have to worry about the people who elect them. I don't think there is anything more sinister than that at play.
I agree it's a stupid move and hopefully it will be rejected and new terms come up. However I don't think it's especially sinister for the people who are stumping up the money to ask for concessions in return. It just seems like anti-German feeling needing an outlet. Germany can just tell these countries to get lost. They can't be that exposed to Cypriot debt.
|
The problem is not the fairness In principle of a quid quo pro imposed on the Cypriot State - it's the precise nature of it. They are proposing an arbitrary expropriation of the private wealth of citizens. As someone observed earlier, that is an utterly outrageous course of action anywhere except within a Communist State.
The first $100,000 of any private individual's bank savings are supposed to be absolutely guaranteed safe against the risk of a bank going bust, yet here the EU is proposing to take away up to 10% of those savings as part of the deal to prevent the bank going bust. It is perverse in the extreme.