Cyprus "bail out"

[Suff]

It's theft, pure and simple

No more so than uncontrolled taxes with unaccountable spending.

[Workingman]

Suff, inflating our way out is still playing Billy Sugars with the numbers. If inflation goes up to, say, 8% and wages do not follow, then it is still "us" who are paying for "their" La-la land numbers based economics.

[Kaz]

The savings of those Cypriots will have already been taxed!

[Workingman]

Hmmm. I can see where Suff is coming from with the one-off hit. It would do the job quickly and neatly and then we could all get on with life.

From my point of view that would be fine if the financial disaster had been caused by something like a World War or a series of global natural disasters over which we had no control. However, it wasn't. It was caused by the financial world's desire to make more money for the financial world, and selling their ideas/wares to stupid politicians who sold them on to us. We fell for it, so we are part of the problem.

Now, whatever happens however, it is those of us who had no control over things, but who bought in whether we wanted to or not, who will pay to bring things back in line. And, worst of all, those who caused the problems in the first place will make more money from the 'solution', whatever it turns out to be.

[Suff]

The savings of those Cypriots will have already been taxed!

Actually the incomes have been taxed, not the savings. Taxing future incomes more heavily will have a much larger impact on their savings than a one off levy. In fact if the taxation was weighted more to the VAT side than the direct taxation, then their savings would be eroded even more. Because it would cause inflation. Inflation destroys savings much more effectively than a levy.

I see that Putin is weighing in now. Of course the British news is not reporting that.

I also saw the Cypriot who was answering questions on C4 cut off by a "technical" issue when he accused the EU of Blackmail. They cut to their German talking head who closed out the item....

The news you are getting is being tailored to make you think in one direction.....

[Suff]

Suff, inflating our way out is still playing Billy Sugars with the numbers. If inflation goes up to, say, 8% and wages do not follow, then it is still "us" who are paying for "their" La-la land numbers based economics.

8% Inflation in prices and wages. 0% inflation in the debt we currently have.....

Job done.

The only people who lose are those with bank deposits because interest rates paid always lag inflation....

We are being asked to believe one side of a story with no possible look at any other. This is not going to go on forever. Eventually splinter parties will gain votes with other options. Note the last Italian election. Those parties will be RADICAL.

We are building the grave of our democratic society by refusing to be flexible and make hard choices. Something the UK has excelled at for 300 years and England has excelled at for 1,000 years. Why stop now? Ah, we're in the EU and we have to do what they want in the long run.

Just remember the EU is the "Big Lie" personified. So why should they stop lying over a financial crisis?

[Workingman]

8% Inflation in prices and wages. 0% inflation in the debt we currently have.....

Job done.

We will not get inflation in prices AND wages, we will only get price inflation. Everyone suffers except the perpetrators. For the future that is the big problem, and that is what will drive the rise of radical parties.

The current disaster was not the making of NAFTA or the EU, IMF or World Bank or the BOE, it was entirely down to the greed of the global financiers who wanted to make more 'money', and unless they are made to pay something back there will be continued dissatisfaction.

[Suff]

The current disaster was not the making of NAFTA or the EU, IMF or World Bank or the BOE, it was entirely down to the greed of the global financiers who wanted to make more 'money', and unless they are made to pay something back there will be continued dissatisfaction.

They don't have it. They blew it lending it to governments who can't pay it back and need to borrow more and more and more.....

Inflation also destroys banking wealth. Anything else makes the banks rich in the long run on our misery.

[KateLMead]

Terrible situation, proving by the day that the damned banks and EU doesn't work for the benefit of the general public ..Equally we see by the hour that The Euro and it's insane need to control is showing it's true colours.
Get out of the damned quango. And stop "ALL bonuses and outrageous pensions, golden handshakes being paid to all the bankers"

[Kaz]

Cypriot banks have now locked people's accounts so they can't take their money away. Does anyone want to defend that???? Holding people's money to ransom, basically