Cyprus bailout - (Parliament doesn't have votes to pass reform)

Telegraph ^ | 18 March 2013 | By Denise Roland, , Rebecca Clancy and Szu Ping Chan

[11th_VA]

19.28 Greek-based Antenna TV is now reporting that Mr Anastasiades will tell the Eurogroup that he doesn't have enough backing in parliament to pass the bill.

[Longbow1969]

and voters who believe that governments should be able to spend without limits. Everyone involved benefits, except the taxpayers who are left holding the bag.

The voters are the tax payers, and there is a short term benefit. The people get to live beyond their means. Whether that means directly collecting benefits or feeling good about their social welfare state - they are benefiting. Many of these voters will never really have to deal with the consequences - they'll already be dead when that time comes. That's the whole point of voting for governments that not only run up huge debt, but devise ways to kick the can down the road so the current crop of voters doesn't have to deal with it.

This is a voter problem. More precisely, a selfish voter problem. Politicians tell them what they want to hear. Banks play the role of enabler. Both the politician and bank may very well be corrupt much of the time, but it is the voter who put them in charge.

[alrea]

But there's a symbiotic relationship between crony capitalists, corrupt and/or short-sighted policy makers and voters who believe that governments should be able to spend without limits. Everyone involved benefits, except the taxpayers who are left holding the bag.

post of the day nomination

[bert]

If that happens, it will be open season on random known democrats

[traderrob6]

BS. It all boils down to living beyond their means and continuing to vote politicians into power that do precisely that.

Chickens coming home to roost, it’s as simple as that.

[Thane_Banquo]

BS. It all boils down to living beyond their means and continuing to vote politicians into power that do precisely that.Chickens coming home to roost, it’s as simple as that.

When JPMorgan loses $100 bln on the next London Whale and Obama decides to levy a 15% tax on your 401(k) to direct the money into his butt-buddy Jamie Dimon's personal Swiss bank account so Dimon can afford to buy another Ferrari and a kilo of coke for his next stripper mistress, don't say I didn't tell you so. It's as simple as that.