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A wise answer, kallini2010. "Those who let it happen" is an important phrase. The rest of the EU and the world are letting it happen, and it will not end here.
Helen Murphy Howell says
The irony is that Cyprus turned down the initial proposal to take 9.9% of all accounts over 100K Euros, and instead is taking potentially 100% from Laiki customers and 30% from Bank of Cyprus. Not exactly a fairer option!
Karen Szklany Gault says
You're right. Why should people work and save all their lives if the bank can just grab every penny? If the politicians targeted Russian gangsters, fair enough, but they are not doing that. It's like monopoly money to them.
The EU has bailed out Greece twice, to the tune of hundreds of billions of Euros, without taking a penny from depositors, and most of the "toxic debt" of Cyprus is Greek debt written down by the EU! People did not expect this.
Ashok Goyal says
I agree. Tax evasion and money laundering should be stopped - but stealing honest people's life savings can't be justified on the grounds that some accounts are suspect. It's a poor excuse. Germany is wielding a big stick and will wield it more.