Quote:
Originally Posted by Damien
Yes but these banks and deposits were at risk anyway. Another way to put it would be that the EU will only fund a partial bailout that protects everyone's savings under €100,000 and around 80% of those over €100,000. It's the banks themselves which were on the brink of going under, the banks themselves were the ones who the Cypriots needed to bail out.
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However they now know that if they need to they can force a country to dip into peoples bank accounts, now they have crossed this line what will be next ?
I am so glad we are not in the Eurozone. Its a poison chalice unless you are one of the elite members.
The Euro elite will be rubbing there hands together in glee now. All that extra money coming in via interest on the bailout.