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The member countries of the ESM will still give 10 billion, right? And the special tax will bring the needed sum down from about 15 billion to about 10 billion. That would reduce the german share from ca. 4.5 billion to ca. 3 billion.
And that would change what exactly in political terms?
"For Wales? Why Richard, it profit a man nothing to give his soul for the whole world. . . but for Wales!"
Oh, we bailed out the gangsters, but we charged them 10%?
Surely Bild isn't going to be pacified by that?
As for the politics - apparently the aim is to minimise any possibility of senior bond-holder losses, to push depositor money northwards, and to make Cyprus a docile client state whose interesting mineral resources can be extracted with a minimum of unfortunate local enrichment.
Whoever they are, they must be scarier than the Russian mafia.
It is rightly acknowledged that people of faith have no monopoly of virtue
- Queen Elizabeth II
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