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Originally Posted by Damien
I agree it's outrageous and frankly stupid. Yet I don't think it's any kind of machiavellian scheme from Germany to control Europe, I think it's just a misguided attempt to soften their own contributions and to be seen to be responsible to their own voters. Germany's interest in these matters is not some World War 2 revivalism to control Europe by money instead of force but an attempt to limit damage to their own economy. I doubt Germany would give much of a toss about Cyprus if it posed no danger to them. It's the portray of Germany that bothers me.
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Who said anything about German revivalism? Not me. So far as Germany goes, this is Angela Merkel's strategy to avoid getting booted from office later this year. This is nothing to do with Germany wanting to take over Europe.
Standing behind the creditor states however is a Brussles-based policy elite that sees everything through the prism of The Project, the aggregation of power to the EU itself at the expense of all the member states. They will be absolutely rubbing their hands at this newfound ability to dip their hands into the private savings of private individuals within one member state.
Is it remotely coincidental that they are trying this on through what would appear to be the path of least resistance, a tiny island with a population of les than a million? Can you imagine if they had tried this on in Spain, or even in Ireland? Even Greece didn't get this treatment. No; they are happy to set the precedent in a place they know amounts to very little in the world.
The only possible saving grace here is that they may have over-reached themselves and misjudged the size of the backlash. We can hope.