Quote:
Originally Posted by Sirius
It becomes acceptable when its done by the EU elite. You have to remember that in the EU everyone is equal but some are more equal than the others  |
You seem to want Cyprus to have told the EU to stuff it whilst taking an increased bailout funded entirely by the EU. You're both having a go at them for not taking the entire cost of the bailout on themselves and having a go at them for offering the bailout at all. You had a pre-emptive go at Germany if they increased the bailout. Which is it?
---------- Post added at 13:15 ---------- Previous post was at 13:13 ----------
Quote:
Originally Posted by martyh
The more i hear of this the more i'm convinced that it is not a rescue,merely a stay of execution .Cyprus has a massive financial industry which has been destroyed now and basically the size of that industry was it's only hope for growth .I predict that this time next year (if not sooner)Cyprus will be bankrupt and on it's way out of the Eurozone and probably the EU
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They'll probably need another bailout. I don't think Cyprus' banking system was viable long term anyway. As long as the system dwarfed the rest of the country they were always going to be a hostage to fortune.
Quote:
Originally Posted by Osem
Yes I suspect it's a lot more 'acceptable' when it's a small nation down south...
I wonder how keen the likes of Turkey, Albania and Serbia will be to join the EU now.
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It's acceptable because the alternative was worse. There was no goldilocks solution here. A bailout was needed or the banks would have collapsed this week.