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Originally Posted by Chris
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.
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I agree.
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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? No; they are happy to set the precedent in a place they know amounts to very little in the world.
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Yes. It's also because they don't have as much at risk as they do with Spain, Ireland or Greece. In the scheme of things Cyprus needs them more than they need Cyprus and this is reflected in their terms. They don't want to risk too much politically on a bailout whose failure would not led to the same consequences that the others would have caused. Also because it seems they basically think it's taking money from Russia.
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The only possible saving grace here is that they may have over-reached themselves and misjudged the size of the backlash. We can hope.
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I think they're probably locked in discussions to find an alternative now. Hopefully.