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**Damien** · 22-03-2013, 11:37

The pensions thing seem to be proposed by the Government and not the EU. Again this is all because the EU isn't going as far to bail the entire country out as the debt would be so high the bailout would be pretty much equal to the countries entire GDP. Cyprus let it's banks get so big, inflated by Russian money, that it now threatens to bring them all down. The EU haven't dealt with this well but they share the blame with Cyprus in the first place.

Looks like Moscow isn't going to help either according to reports this morning so Cyprus' hope for a goldilocks solution is off the table. They're going to take a hit. Let the banks go under but protect the €100,000 and under depositors. Cyprus didn't like that because it would kill their offshore banking industry but if Moscow isn't willing to save their own tax-dodging millionaires then why should the EU?

22-03-2013, 11:37	#1161
Damien Remoaner Cable Forum Team Join Date: Mar 2004 Posts: 32,907	Re: Eurozone will collapse... The pensions thing seem to be proposed by the Government and not the EU. Again this is all because the EU isn't going as far to bail the entire country out as the debt would be so high the bailout would be pretty much equal to the countries entire GDP. Cyprus let it's banks get so big, inflated by Russian money, that it now threatens to bring them all down. The EU haven't dealt with this well but they share the blame with Cyprus in the first place. Looks like Moscow isn't going to help either according to reports this morning so Cyprus' hope for a goldilocks solution is off the table. They're going to take a hit. Let the banks go under but protect the €100,000 and under depositors. Cyprus didn't like that because it would kill their offshore banking industry but if Moscow isn't willing to save their own tax-dodging millionaires then why should the EU?