So, Cyprus is a European Union Member State which is about to go bankrupt. Naturally, the Cyriot Government asked the European Union for a Governmental Bail out.
Brussels responded that they would be happy to give the bail out, so long as the demands are met. These Demands are set by Germany, because Germany is the biggest giver in these bail out.
When the Greek Government refused to pass her laws, Germany feared the very distruction of the Euro Currency, and thus she made a Provincial Government for Greece...called a "Unity" Government, and got rid of the Ellected Greek Government and replaced it with the Unity Government....When Italy went through the same problem, The German Chancellor did exactly the same thing.
I dont know the current situation in Greece, but I do know that Italy has returned to a Democratically ellected Government recently.
Spain was warned, but for some reason Germany held back on Sanctions that were beyond Spains ability.
So...What makes Cyprus Different?
Well Cyprus is small, and so Austerity is a silly imposition. However, Cyprus has one thing going. Its a Haven for Savings accounts, like the Caymen Isles, or Switzerland...Cyprus has wealth of individual citizens, and those from around the world, stored up in its vaults.
These are PERSONAL SAVINGS, belonging, not to the Governments, nor to the Banks...but to individual people.
The German Chancellor has told the Cypriot Government, that her Demands for the authorization of a bail out from the European Union are simple. a One Off payment from EACH ACCOUNT of around 10 percent.
:scared0015: OMFG :scared0015:
She is asking for 10percent of each individuals savings in their banks. This is nothing short of theaft. The stealing of money from bank accounts...we arent talking the loss of money through shares...we are talking, really simply about, if you had $10 in a Cyprian Account...the German Chancellor will releave you of a Dollar.....
To avoid a run on the savings account, the Cypriot Government have put withdrawal limits on savings accounts...so you CANT get your money out.
They have thus far voted NOT to meet the Germans Demands...but without that bail out, they face...well, extinction one supposes. Bankruptcy...and Merkel has refused to change her demand
Tell me...if its possible for the German Chancellor, to replace Democratic Governments, with her own Unity Provincial Governments, and its possible for her to go into the account of any per