Posts tagged ‘Cyprus’

March 24, 2013

Legally Robbed

cyprus-bank-protest

As I write, the Cypriot President is in Brussels trying to negotiate a deal to rescue his financially strapped country from bankruptcy.  The potential deal is thought to include a mandatory tax of 20% on those with savings over €100,000.  Last week the tax that was being agreed was 10% on all savings over €10,000 which amounts to legally sanctioned daylight robbery.

It’s an understatement to say people on the island are aren’t very pleased

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July 11, 2012

Hit the Eject Button

As the Top of the Bailout Pops continues I will provide a useful summary of the single currency crisis so far:

Bailout received:

Portugal €78 billion

Italy N/A (yet)

Ireland € 77 billion

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