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Originally Posted by Damien
Good see they've stepped back from the insane option. Although the tax on higher earners might happen still.
It's not ideal but let's remember that they're the ones asking for a bailout. Cyprus can tell them to 'bugger off' but then they have to either find the money from elsewhere or deal with the consequences of not having the money. Also while anti-German feeling may be high it's not outrageous for them to expect the Cypriot Government to find some of the money themselves rather than getting it all from the German taxpayer and other European nations.
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This is very crazy situation and presedent. I am sure if cypriots thought if it went to help nation recover they maybe less against it. To me sounds like theft from bankers and germans. Unless reading it wrong and money going cypriot government. Basically if its going to germans, bankers its putting bailout onto savers.
To me its last dice throw of failure from IMF and Germans to force crazy austerity everywhere. No body saying we dont need to get finances under control it does. How much this down to bankers over leveraging fiat currency in the world. Surely fiscal system needs to be in place you cant just crash and burn everything. All I get the so called experts and everyone panicking. Level heads nead to be looking at the situation but all they doing is coming out all sorts crazy ideas. Sadly which just making things alot worse than need be.