Monday, 18 March 2013 11:27
People need to wake up and very fast to what is going on. I have been warning about all this for years and now it is in our face.
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Germany Told Cyprus They Could Tax Their Depositors, Or Leave The Eurozone
'The drama out of Cyprus Saturday continues to get more interesting.
The country has been ailing for quite some time, and everybody knew that a bailout was coming. But the big surprise is that depositors in banks will be subject to an instant one-off tax to raise nearly 6 billion euros.
The background is that because Cyprus has an enormous banking system -— and houses a lot of offshore Russian money — there was not much political appetite to bail it out, even though the amount of cash was minimal. In fact it seems, Germany was comfortable letting Cyprus go completely.'
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