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To: Thane_Banquo

The Germans didn’t get them into this and have no resposibility to bail them out.

Cyprus has only itelf to blame.


20 posted on 03/18/2013 2:12:52 PM PDT by traderrob6
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To: traderrob6
Cyprus has only itelf to blame.

Indeed. Too many people, even conservatives, seem determined to blame everyone but the voters/citizens. Cyprus has a people problem, just like Greece, Italy, Spain, etc, etc. People are voting for (or otherwise supporting) governments that spend more than they have and run up massive debts. The "banksters" are indeed enabling these governments, just like any creditor who provide sketchy loans to desperate people. Whatever the terms the Germans demand, the problem is still with the people of Cyprus who got themselves into this mess. No different than irresponsible people who run up their credit cards, live above their means, and do anything they can to keep it that way.

23 posted on 03/18/2013 2:37:34 PM PDT by Longbow1969
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To: traderrob6
he Germans didn’t get them into this and have no resposibility to bail them out. Cyprus has only itelf to blame.

This is a bank bailout, not a sovereign bailout. The average Cypriot who will get his teeth kicked in by this theft had nothing to do with the reckless practices of the International Society of Banksters - Cyprus Division.

When a bank has problems, the first people in the capital structure to take losses are the equity holders. If equity is wiped out, then bondholders get haircutted. Only after that point, if there still isn't enough money left, do depositers lose money.

However, in the German-led Cypriot bankster bailout the bondholders won't lose a cent, while the depositers will get haircutted. Why? Because those bondholders are a bunch of wealthy, corrupt Berlin eurotrash. The Germans are refusing to take the losses on the bonds they purchased, so now the average Cypriot has to take it in the chin. This is pure greed and corruption.

40 posted on 03/19/2013 5:25:49 AM PDT by Thane_Banquo ( Walker 2016)
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