Skip to comments.Cyprus's choice: Iceland or Greece?
Posted on 03/22/2013 9:28:38 PM PDT by JSDude1
What will the unhappy Cypriots do? Will they mortgage themselves to a dodgy, authoritarian kleptocracy? Or drumroll will they spurn the EU and take Russia's money instead?
Actually, there is a far better option: an option offered by another thinly populated island on the fringes of Europe whose financial sector had outgrown its economy. Cyprus could copy Iceland, let its banks collapse, and leave their shareholders and bondholders to sustain the loss.
There is often a perception lag when it comes to foreign countries. Most people in the EU still have the idea that Iceland is in economic meltdown. In fact, as I have blogged many times before, it has bounced back impressively from the 2008 crash, and public opinion is solidly against EU membership. Icelanders are a canny people. They know that, though they have been through a dip, their standard of living is still higher than 24 of the EU's 27 members, and is improving more rapidly than anywhere in the euro zone.
(Excerpt) Read more at blogs.telegraph.co.uk ...
Daniel Hannan, is one of the few UK politicians other than Nigel Farage who I believe is honest, conservative, and actually has common sense!~
The Troika’s biggest fear is Cyprus telling the EU to shove it.
Not only will they be out the money, but it would cascade across Europe when Greeks start asking why they are still taking orders from Brussels for hardly any gain.
Then their precious little currency union will be dead, and so will their power.
Iceland told the EU bullies to eff off when they tried to stick Iceland’s taxpayers with a 4 billion dollar bill for what their (Iceland’s) thieving bankers had done. It was hilarious. It’s back to fishing for the men.
“Socialism is the equal distribution of misery”- Winston Churchill
There is a God! I have been praying to hear Daniel Hannan weigh in on this fiasco. If only we could have video.
Would also love to hear a video of Farage chime in on this as well (in front of the European Union Parliament).
Make sure you do not have any coffee in your mouth.
o.. sorry.. got carried away there.
When Money Dies
Book: "When Money Dies"
I recommend reading it - get it while you can for free from my link above.
After you've read the part about how all those nice, civilized urban Austrians rampaged through the countryside en-masse pillaging farms and wreaking havoc, read this: