5 Responses to Eurozone official says banks in Spain, Italy, and Europe could be raided to save Euro

  1. Ron says:

    If you make a deal with the devil expect to get burned.

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  2. archie1954 says:

    From the sound of this finance minister’s comments it seems that he equates placing your savings in a bank as tantamount to taking on a financial risk or investing in a finacially risky venture. I have never heard that banking your savings was participating in a risky venture for which you must be prepared to suffer if it fails. Things have certainly changed!

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  3. niebo says:

    SURPRISE!!!

    1) I was WRONG in my comment on a previous post re: “titanic bank run” in Cyprus; this strategy will sweep Europe and probably the world so quickly that, by the time their accounts are unlocked, those robbed account-holders will have nowhere ‘safe’ to take their money. (Oh, well, there’s China, maybe.) Which means that Cypriot banks are safe, as is their economy, and recovery is assured, as is stability, for everybody everywhere, forever and ever. Right, dudes?

    2) “If we want to have a healthy, sound financial sector, the only way is to say, Look, there where you take on the risks, you must deal with them, and if you can’t deal with them, then you shouldn’t have taken them on,” [Mr. Dijsselbloem] said.

    Which is to say:

    “Since Cyprus has not burned itself to the ground (yet), we’re going to continue this thoughtful, fair, balanced, stoopidless plan to hold accountable you myopic and/or blind idiots and/or crooks, you “bank executive-, bond company-, shady investor-, and politicos-who-were-bribed to-let-it-happen-dudes”, by letting you plunder and pillage the account-holders. That way, you dudes get additional opportunities to disempower, degrade, and subjugate your victims.”

    3) The response to this entire mess sounds more and more like the tactics and “strategery” employed by the nobles in the middle-ages: “Oh, we had a drought and are low on wheat, thus low on bread? Well, that’s not our problem; just raise taxes and levy the rest of the wheat. So that will leave the peasants without bread? Well . . . let them eat cake!” Does anybody recall how that worked out?

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  4. Irene C says:

    Rob from the rich and give to the poor? Okay, that’s might work until there are no more rich left. Then start hammering away at the poor? Finally the entire world-wide economy collapses. Then comes the savior with the plan for a single, one-world economy. (I believe I’ve heard about this.) Okay, I am definitely no economist, but could this be a possible scenario? Is this all part of a grand scheme? IMO

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  5. tonic says:

    What happened in Cyprus was a travestry. Theft outside of any comprension, and a signing of the death warrant of the euro currency.
    Why? because you cannot steal others saving without conset. But they did.
    The Euro is coming down. It has to, because it has decided to ignore the basic right of a humankind, and taken decisions to feed…… greed.
    And greed has no satisfaction, ever.

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