BRUSSELS, March 25 (Reuters) – Cyprus clinched a last-ditch deal with international lenders on Monday for a 10 billion euro ($13 billion) bailout that will shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians.
“Let us all save the banks by imposing the cost of their mistake on the public.”
“Let us sell off public assets to raise money to save the banks.”
The people of Cyprus are being told of the dire consequences if they do not agree to those statements. I seem to recall Iceland being in the same predicament. They threw the bankers out of their country and they are doing fine… thank you very much!
Timothy F. Geithner, U.S. Treasury secretary, told Congress back in 2008 that if they didn’t authorize a $750 Billion bailout for the banks, there would be Marshal Law. Since then the spigots have been wide open helping the banks and robbing the public with low interest rates of nearly zero while inflation continues its upward march.
Cyprus is the “line in the sand”. Will the public give in to the strong-arm fear tactics or will they succumb to fear and enslave themselves to the whims of the financial industry? The people of other EU countries are watching this closely. Here in America there is very little news media attention given this situation, by design. Instead, the media is commenting on Jessica Simpson’s latest pregnant photo… how cute!
Destruction of democracy is at hand. The governments are aligned with the 1% wealthy and this very fact is being exposed in Cyprus. Love is exposing the hearts of men. Financial sovereignty of Cyprus and other countries is on the line. Once financial sovereignty is removed, the rest of the sovereignty of the nation will fall and they will become a nation-state of the EU. Ultimately, the wealthy want all nations as part of their “one-world government”. Greed at its worst.
Will Brussels (EU) successfully increase the concentration of power and move it away from the people of Cyprus? Or will the people of Cyprus stand firm against this attempt by Brussels to have them pay for the banks’ greed and reckless investing that incidentally increased the bonuses to the wealthy? How blatant!
The EU wants to use this crisis to gain power over its members. The borrower is subject to the lender. This Biblical truth is in action.
This may be the week that sets the course for the Western World.