The Cyprus Precedent

Will take a little break, as I am in meetings, yet dealing with the consequences of the Cyprus crisis. Let us look at the synopsis of the crisis. 1. Cyprus is in dire financial trouble. They have a sovereign debt of €10 billion. This island is a fiscal financial paradise. The writing is on the wall. 2. The government rejected an EU bailout plan. It would mean INVADING every bank account on the island with a tax of 10% on all balances. 3. As a result of parliamentary rejection of the plan from the EU the ECB pulled the plug … Continue reading The Cyprus Precedent