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**Damien** · 08-05-2013, 16:12

Again in the Cyprus case the money wasn't there. If the bailout hadn't had happened the banks would have collapsed and the uninsured deposits would have been wiped out, everything above €100,000 would have gone. It's being portrayed as the EU, mostly Germany, stealing money but instead it was the EU, mostly Germany, only giving so much for the bailout and thus not fulling backing up the uninsured deposits. Their reasoning for this is that it was suspected that it was mostly Russian tax-dodgers whose deposits were being saved and this was politically untenable.

08-05-2013, 16:12	#1413
Damien Remoaner Cable Forum Team Join Date: Mar 2004 Posts: 32,785	Re: Eurozone will collapse... Again in the Cyprus case the money wasn't there. If the bailout hadn't had happened the banks would have collapsed and the uninsured deposits would have been wiped out, everything above €100,000 would have gone. It's being portrayed as the EU, mostly Germany, stealing money but instead it was the EU, mostly Germany, only giving so much for the bailout and thus not fulling backing up the uninsured deposits. Their reasoning for this is that it was suspected that it was mostly Russian tax-dodgers whose deposits were being saved and this was politically untenable.