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Argus
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Sad Cyprus

- Goldmoney -

The idiotic proposal to confiscate capital from bank depositors in Cyprus was chiefly about the optics for German taxpayers. Muti Merkel has an election coming up and there is a domestic backlash gaining momentum against having to bail out feckless banks and governments.

In proposing the confiscation, the EU has opened the door to increased Russian influence in an area of the Med where new energy fields are waiting to be developed under the ocean.
Another consequence is the exposure of EU and government assurances that the first portion of deposits are guaranteed as another lie, amongst the many that this corrupt and avaricious gang have uttered in their desperation to forge ahead with their empire.

Commented 4190 days ago

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Beginning of the headline :Pure theft. That’s the description many are giving to the weekend’s news from Cyprus, where bank depositors have had their accounts frozen, with a special 9.9% levy on deposits of over €100,000 and 6.7% on amounts below that. Interest is also being taxed at 20-25%, and the country is being forced by the IMF and EU to raise its 10% corporation tax rate. These measures are designed to raise €5.8 billion as a contribution to a €10bn bailout for the Cypriot government. Yet again, banks and the gov... Read More

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