Proposed Nightmare Raid Of Bank Accounts In Cyprus Is A Powerful New Tool For The GOP

Mediaite ^ | March 18, 2013 | Noah Rothman

[2ndDivisionVet]

Over the weekend, the citizens of Cyprus discovered that help was on the way as their debt-laden island nation learned that the European Union and the International Monetary Fund had agreed to provide Cyprus with $13 billion in bank bailouts. But there was a catch: no longer were these funds going to be pain-free. Average Cypriots would have to pony up as well. 6.75 percent of all deposits in Cyprus-based banks below 100,000 Euros would be reclaimed by the government. Depositors with over 100,000 Euros would have to surrender 9.9 percent of their savings. The news spread like wildfire. The citizens of the Mediterranean nation took to the streets. They raided their bank accounts. President Nicos Anastassiades took to the televisions cameras as panic spread. The banks were closed. A vote on the deal postponed. The governments of creditor nations across the planet held emergency meetings in the fear that the crisis in Cyprus could spread beyond the nation’s watery borders. Today, residents of the Eurozone watch the smoldering scene in Cyprus for materializing fallout. The debt crisis had arrived in Europe. No longer is this theoretical of hypothetical; this is what a debt crisis looks like.

The panic that resulted from the proposed $13 billion bailout deal has scuttled the plan in its present form. There are nearly 70 billion Euros in Cypriot banks from outside the country. The Russian government in particular is expressing their revulsion over the bailout plan, given that Russian banks and corporations have more than $31 billion in Cyprus-based banks. A spokesperson for the Russian government made it clear, however, that a deal that bails out the island nation and levies only the funds of native Cypriots would not be opposed by Moscow.....

[SeminoleCounty]

The problem is that the GOP never really uses these incidents to their advantage...because they support and promote many of these same organizations and ideas that bring them on...such as the IMF, Globalism, Free Trade, EU/NAFTA/CAFTA and all the other regional “free trade” blocs.

If Obama and his minions started seizing bank accounts, the GOP will whine but do nothing...as both the GOP leadership and Obama are pretty much on the same page. There are no Real Conservatives in the GOP leadership

[SunkenCiv]

Thanks 2ndDivisionVet.

the Slimes has it more or less right:

Resistance in Cyprus Grows to Europe’s Bailout Plan
http://www.nytimes.com/2013/03/19/business/global/19iht-cyprus19.html?google_editors_picks=true

BBC spins it:

Eurozone ministers urge Cyprus to shield small savers
http://www.bbc.co.uk/news/world-europe-21839324

[GOPJ]

The people who don’t care if the Government steals from citizens are the same people who ‘get’ from the government. The same people who don’t bother to save a dime...