Sunday, 17 March 2013

The Cyprus Effect

On Friday, Cyprus froze all personal bank accounts in the country. This Monday is a bank holiday in Cyprus. On Tuesday, when the banks reopen, ALL bank deposits will have 6.75% to 9.99% taken off them by the government to help pay for its government's deficit. There is no escaping this and there is no recourse to appeal. The EU can demand that to be done. 

Think about this for a while. Think about what it means for you, who worked hard, paid taxes and saved up money in a bank under assurances that it will be safe. If you ever thought politics had nothing to do with you, think again. 

And think bloody hard, because I'm tired of telling you.
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