Free Republic

*Lines formed at ATMs as people scrambled to pull their money out *Word spread that rescue package included a one-off levy on deposits *Restrictions stopping people emptying accounts or moving money abroad *Up to 3,000 British service personnel are based on the bankrupt island *President Nicos Anastasiades agreed to raid with European finance chiefs Said country in 'state of emergency' and not acting would be 'catastrophic' But expats accused the island of 'plain theft' as violent protests sparked *Britons have around £1.7b of deposits on island and could lose up to £170m

Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery. What happened in Europe today is yet further proof that nothing they’ve done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008. For those who don’t believe the government is prepared to take extreme measures that may include the seizing of retirement accounts, cash savings or even gold, look no further than Cyprus,...