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Why? It's clear the decision-making at Merkel HQ and BuBa is based on simple greed, contempt for the poor, and racism - all of which add up to as good a definition of financial fascism as you'll find anywhere.

Are you seriously going to pretend that Merkel and her establishment cronies are doing this out of the kindness of their hearts for the good of the poor Cypriots? Just as they trashed Spain for the good of the Spanish, and Ireland for the good of the Irish? (Etc.)

Good luck with that when the famous senior bondholders are basically German banks, with a sizeable French sector and a smattering of other EU and international banks.

There was talk only days ago that they would be the ones taking a haircut.

Now we see what happens when that kind of lèse-majesté is considered.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Mar 18th, 2013 at 07:55:07 AM EST
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