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It's not. Their governement backed down. No savings tax today Of course some people are scared but no doubt that people of Cyprus will endure this crisis
It's not. Their governement backed down. No savings tax today Of course some people are scared but no doubt that people of Cyprus will endure this crisis
Someone has to pay though so it's just pushing the problem to those who didn't create it.
Too many people think all it takes to fix a problem is just to throw more money at it. For now the Greeks are spared any austerity or cuts but the problems will continue to grow.
like Greece all they are seekigis to stabilse the situation in during these risky times. Nothing done is going to solve the reason both got to this point.
people dont seem to realize they put in capital controls to prevent the banks from going dry due to the fractional reserve system nature of the system.
now now.
they are considering 30-40-50%+ taking of the 100k+ or higher funds.
hmm?
lets see how many people die by the hands of the Russian mafia this should be amusing.
Maybe some of the corrupt elites will go down from fighting themselves.
Grandpa, please don't insult our intelligence--as you usually do--by trying to claim Cyprus has any resemblance to the USA. It doesn't. Its problems are far more profound than ours. Its situation is much more similar to Iceland than to our country. I bet you couldn't find a time in history when some country wasn't on the verge of "economic collapse". Do you remember the "bailouts" of Mexico, Indonesia, and Malaysia that occurred in the 90's? I do. Something like that is always occurring. Its just the nature of having a big world with many players and problems.
Alos it been discovered that much of that huge russian accounts are not russian mob and are compn any account that are prefectly legal i russia.Its lie mnay others i that it allows a lower arte of tax similar to what mnay other countries compnay do by maintainig the moeny abroad.But fact is eve the under 100K hyave been getting 5% average interest which says something.
I don't get why we should be concerned about the economic situation of relatively obscure countries . I always get a laugh whenever someone says we're "going the way of Greece."
Funny thought, I looked at the pictures in the articles. It just looked like people standing in lines. When you panic, you usually don't go and chill in some line in front of an ATM.
Given the OP title and the titles of the articles it just doesn't look as bad as claimed. Need to get some photos of riot police!
Funny thought, I looked at the pictures in the articles. It just looked like people standing in lines. When you panic, you usually don't go and chill in some line in front of an ATM.
Given the OP title and the titles of the articles it just doesn't look as bad as claimed. Need to get some photos of riot police!
What else do they have to do all day?
It's just the beginning, time will tell if the Greeks enjoy having the banks close down so they can't withdraw their money. Very likely they'll start rioting if they aren't given bailouts and have to face spending cuts, they may riot if they are ever told they're going to see some austerity.
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Of course some people are scared but no doubt that people of Cyprus will endure this crisis
