You know it does irritate me to see supposed conservatives viewing what happened in Cyprus as depositors being “robbed”.
Deposit insurance is Socialism, full stop.
Deposit insurance in Cyprus was Socialism backed only by a very weak state. There was never any promise from the German people that if the criminal fronts, err, banks in Cyprus became insolvent that they would pay off the depositors.
Oh, and a word on those depositors. Jumbo depositors in Cyprus were largely Russian embezzlers and criminals who COULDN’T take their money out, because no respectable country on earth would accept it.
Uh huh. Except all the “ connected” Commissrs and their friends got a heads up and started withdrawing their funds in the weeks before the robbery, including te Russians. That left the average Cypriot holding holding the short end of the stick. Did those retirees invest the banks funds in trash? I’m amazed when I see a “ conservative” who thinks illegally stealing to pay off the banksters for their bad investments is a good thing.