All the people in Cyprus need to organize. If it works there, it will work anywhere.
this sounds incredibly incompetent. to go right in and steal from people’s bank accounts. (when all they need to do is print themselves more money, like USA does... which is, of course, also destructive and immoral but a bit less likely to provoke immediate mass violence in the streets.... ergo: the European politicians sound incompetent...)
Money under their mattresses just became worth more than money in their banks.
The DOW in the U.S. should go up about 200 points on this news and all bank stocks will also jump up significantly. It’s a modern day market.
Of course the European debt crisis is not over. One has only to look at the declining birth rates and the ever-increasing lifespan of Europeans to see that the whole social welfare scheme is going to collapse. There simply aren’t enough young people to support the old people who get money and services for nothing. At some point their money will run out and no one is going to be able to or willing to rescue them.
Any bets on how much the stock market will soar next week because Cyprus didn’t burst into flames?