http://krugman.blogs.nytimes.com/2013/03/19/shorter-cyprus/
So, a quick summary: The Germans don't want a Cyprus collapse / exit from the euro, but they also don't want the spectacle of German taxpayers bailing out Russian money-launderers. So what they did instead was blackmail Cyprus into having Cypriot depositors bail out Russian money-launderers. That way Germany's hands are clean. Am I missing something? Also, pretty awesomely straight talk from Athanasios Orphanides. Former Central Bank of Cyprus chief Anthanasios Orphanides was on Tom Keene's show on BloombergTV this morning. In his interview, he goes off on the EU for its treatment of Cyprus, and says the European project is dying. You can watch the full video here. Below is a partial transcript provided to us by Bloomberg TV. ----------------------------------------------------------------------------------------------------------- Orphanides on Cyprus bailout: "We are witnessing historic times. What we are witnessing is the slow death of the European Project. We are in a situation that some European governments are essentially taking actions that are telling citizens of other member states that they are not equal under the law." "What we have seen in the last few days is a very serious blunder by European governments that are essentially blackmailing the government of Cyprus to confiscate the money that belongs rightfully to depositors in the banking sector in Cyprus. It is not clear how this can affect in a positive matter the European project going forward." On EU making a mockery of Banking Union "Cyprus did not have a problem before earlier blunders that were made by European governments." "We have had decisions taken by the strongest government in Europe that is spreading misery sequentially to citizens in Greece, Ireland, Portugal, in Spain, in Italy and this is not going to end the way that European governments are handling this. We need to have a decision making process where governments are asked to care for citizens in other states." "In order for the EU area to stay together they needed to form a banking union which meant, they needed to have a common credible deposit insurance guarantee for everybody in the EU area. Indeed by making a mockery of that right now, the governments who pushed for this measure are sending a message that they want no part of a banking union." On the possibility of bank runs across Europe "I would hope notÂ… we have finance ministers from a number of countries who should have known better and they have taken a decision that has encouraged bank runs across Europe." Read more: http://www.businessinsider.com/former-cyprus-central-banker-athanasios-orphanides-says-the-european-project-is-dying-2013-3#ixzz2O0Z1jdXv Menarik. Ini sangat menarik. Pertama ada dugaan atau mungkin juga sudah suatu kenyataan bahwa Siprus itu dijadikan tempat pencucian uang para Rusia "baru". Kedua, rupa-rupanya di zona Eropa mulai sekarang ini ada pembagian kelas bagi para warganya. Warga kelas dua sementara ini adalah orang-orang Siprus yang punya simpanan saja sudah kena tambahan pajak khusus di mana aturan ini sementara ini belum/tidak berlaku di negara-negara lain dalam zona Eropa. Ha ha ha ... Zona Eropa mulai berjalan mundur. ------------------------------------ Post message: [email protected] Subscribe : [email protected] Unsubscribe : [email protected] List owner : [email protected] Homepage : http://proletar.8m.com/Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/proletar/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/proletar/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
