Posted on 11/08/2013 7:36:39 AM PST by rktman
Cyprus, a tiny island of less than one million people, is a small scale study in big banking out of control, insane spending like there is no tomorrow, coupled with socialism runs out of other peoples money. While researching the bailin and bailout of early summer, I found disturbing accounts of their socialized health care.
In return for a 10 billion bailout for Cyprus, the EU bureaucrats have demanded a bailin (read confiscation) of Cypriots savings and checking accounts. One bank offered worthless shares but another did not. Cypriots felt that they were used as guinea pigs to test if the scheme worked before they tried it in other places like Italy, Spain, and Greece. The confiscation of depositors money was euphemism-dubbed in Cyprus, the haircut.
(Excerpt) Read more at canadafreepress.com ...
I’m as opposed to Obamacare as anybody else, but why compare it with Cuba’s or Venezuela’s? These are also-ran countries that have always been also-ran countries. The appropriate comparison is to countries with roughly the same GDP per capita like Germany, Japan, Australia, Canada and Britain.
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