Monday, March 25, 2013

Just Can't Make This Up

One gets up in the morning, thinks that everything is messed up enough. Checks German papers: nothing new. Goes to Reuters and things go from ugly to crazyland.
Really, this is just madness:

No one knows exactly how much money has left Cyprus' banks, or where it has gone. The two banks at the center of the crisis - Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus - have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia's Uniastrum Bank, which put no restrictions on withdrawals in Russia.

It was all for nothing? Because of something so large  that cannot even be considered a loopholeNow I have mentioned that I thought the whole handling of the crisis was aweful, but I never expected this.

This is, in my opinion, the fault of the Cyprus government, well at least partly since they are only in office for a few weeks, and it will damage their own population, depending on how much money "left" No matter how much money was taken out of the bank accounts this just makes everything worse.

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