The main parties in Cyprus are for the deal, but at least one of the smaller political parties has indicated that it will not support the scheme. If other smaller parties follow the lead of the Greens the island could reject the deal. My bet is, however, that the EU is not going to stand by and let a couple of malcontents (as they I am sure the EU sees critics in Cyprus) scuttle their efforts.
Another great one from Demonocracy.info
One more dose of David Stockman today. Suddenly Fox Business News wakes up (after reading the former OMB chief’s new book) to discover that we’ve been completely jacked by the big banks.
That, in the distance, from across the Atlantic. Shhh. Hear it? It is the sound of billions of dollars pouring into Switzerland.
If anyone still has over EUR 100K in an account in the European peripheral countries after this statement, they deserve (almost) to have their money taken.
European MP Nigel Farage explains that the EU does not respect democracy and does not respect the rule of law. He tells his fellow Brits living in southern Europe to move their money back to the UK while they still can.
Most Americans don’t know where Cyprus even is. But just know that this island nation has long been a Mediterranean refuge from the cold for many Europeans. These same Europeans do a good bit of banking on the island also. Cyprus is kind of like the Bahamas for Brits and Germans.
In light of the revelation that Hugo Chavez apparently left this world a billionaire, I found this video from Bloomberg interesting.
In China, 90 members of the Chinese Communist Party have a net worth of $300 million or more.
It’s good to be dictator (I guess, so long as one is alive). Since 1999 when Chavez took power he has taken a big pile of money for himself too.
We have written often about China and the cronyism which seeps into every corner, every nook and cranny, of the Chinese economy. It is The Ultimate Crony Capitalist State.
