News keeps on churning…
Your live Cyprus bailout tracker. Some tidbits: British ex-pats are pulling their funds from Mediterranean banks. Also, bank managers in Cyprus have been given EU documents specifying how much money they can allow people to withdraw, only the documents have €xx where it says how much they’re allowed to withdraw. (Or maybe they’re just using Roman numerals, and the amount is 20 euros…)
Switzerland: We’re not stopping any money flows from Cyprus
“Given what we know now we can safely say no European Bank, or Government issued debt is safe. It is time to flee any investments in the EU financial institutions, most of which are over loaded with the useless Government paper they were forced to buy to improve their capital ratio’s. If you have deposits in the EU, they are not safe from Government seizure, Greece, Italy, Spain, Portugal and Ireland are the front line risk, but the rest of Europe can not be considered secure. If you are a holder of any form of European Bank security, exit it fast. Many countries in Europe are on thin ice in terms of debt, and the ECB will not help.”
“No matter what the specific outcome from Cyprus over the weekend, Europe has now completely lost its ability to manage its debt crisis.”
What it’s like to live in a cash economy with no cash.
The Euro bailout Hall of Shame. So far…
Tags: Budget, Cyprus, Economics, Euro, European Debt Crisis, Welfare State
This entry was posted on Tuesday, March 26th, 2013 at 12:53 PM and is filed under Budget, Economics, Welfare State. You can follow any responses to this entry through the RSS 2.0 feed.
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