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Filip Singer / EPA
Protesters rally against an EU bailout deal in front of the Cyprus parliament in Nicosia on March 18.
Patrick Baz / AFP - Getty Images
Cypriots show their palms reading "No" during a protest against an EU bailout deal outside the parliament in Nicosia on March 18. Cyprus's parliament has postponed until Tuesday a session to vote on the bailout deal that slaps a levy on all Cypriot bank savings, as negotiators scrambled to soften the blow for small deposit holders.
Yiannis Kourtoglou / AFP - Getty Images
A man holds a banner against German Chancellor Angela Merkel's call for Cyprus to follow economic reforms.
By John W. Schoen, NBC News
The explosive backlash to the latest European bailout – this one for tiny Cyprus – will have limited impact on U.S. consumers, businesses and investors.
But the aftershocks are a potent reminder than the ongoing European crisis – relatively dormant in recent months – is far from over.
The latest $13 billion chapter in the Europe’s efforts to reverse the economic free fall of its most heavily indebted members came with a nasty, surprise kicker. Read full story.
Patrick Baz / AFP - Getty Images
Cypriots protest outside the parliament building in Nicosia, on March 18.
Yorgos Karahalis / Reuters
Protesters shout slogans during an anti-bailout rally outside the parliament in Nicosia on March 18.
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Iceland has shown the way short of a full-blown social Revolution on the French/Russian model. Arrest the bankers and corrupt government officials.Show that they care more for their common citizens than the rich investors that have sucked the world's nations dry for years.
Has anyone noticed this? How come all these protest signs are in English? North American English at that.
It must be the official language of diplomacy and protest.
Uncle Bob I agree. I think that the only thing that will work anymore is to take those bankers and corrupt politicians to the street and hang them from the light posts. The common working people need to take a stand against them and let them know once and for all that the jig is up for them and we aren't going to take any more of their crap. They have robbed us until they have left us no choice but to retaliate severely. It has come down to a matter of survival, and they are greatly outnumbered.
No wonder the proposed bailout was defeated with 39 "no's", 16 abstentions and not one "yes". It was a state authorized theft. See my comments
Title: EUROPE'S BROKEN PROMISE
Link:
Excerpt: So you still want to join the EU and buy into the Euro? Think again.
If you haven’t noticed the EU promised to bail out Cyprus’ banking and financial system over the weekend. The bailout was not engineered with finesse and a scalpel; it was bludgeoned into place with a meat cleaver. To add insult to injury, the EU broke the promise that had safeguarded bank depositors since the Great Depression, government insured checking and savings accounts.
Well the promise to safeguard depositors is no more. It’s gone with the wind, now its sauve qui peut, every man for himself.
No wonder the proposed bailout was defeated with 39 "no's", 16 abstentions and not one "yes". It was a state authorized theft. See my comments
Title: EUROPE'S BROKEN PROMISE
Link:
Excerpt: So you still want to join the EU and buy into the Euro? Think again.
If you haven’t noticed the EU promised to bail out Cyprus’ banking and financial system over the weekend. The bailout was not engineered with finesse and a scalpel; it was bludgeoned into place with a meat cleaver. To add insult to injury, the EU broke the promise that had safeguarded bank depositors since the Great Depression, government insured checking and savings accounts.
Well the promise to safeguard depositors is no more. It’s gone with the wind, now its sauve qui peut, every man for himself.