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The EU are now Stealing their own Citizens Money....


Bazj
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Discussions such as the ones highlighted below you mean???

Looks to me like it was a do as we say bailout Kije.... take them blinkers off quick man.... they're going to do us all in... we need to get out now!!

 

"Anyone with savings in a Cyprus bank will lose some of their money under a ground-breaking bailout deal agreed by European finance ministers."

 

"EU finance ministers have agreed to lend the indebted island 10bn euros but in return the public will be forced to forfeit part of their savings."

 

"As part of the deal, the government will also have to hike corporate tax to 12.5% from 10% and sell off state assets to help balance the public finances."

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Thin end of the wedge Obs. Once they find they can get away with it they will broaden their horizons :wink:

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I think the main problem is the single currency ...we have seen problems in Spain ,Portugal & Ireland too where bailouts have been needed. There are countries in the EU whose economies are not all based on the same thing & the southern European ones are mainly tourist based & because they have to keep there cost of living in line with the Euro their economies are being  hit because many tourists are holidaying elsewhere because it is cheaper. If these countries went back to their own currencies their economies would find their own levels & start attracting tourists again.

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The EU, have to take some blame, some Countries were actively cooking their books in order to qualify to get in the single currency, they should never have been aloud in. The EU turned a blind eye to it and are now paying for it. The problem will be solved with a lot of hurt to those Countries. The ultimate responsibility must rest with the politicians that cooked the books. They gambled that the good times would never end, a bit like the Bankers.

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The only country that was proven to have fiddled their books was Greece... not some. The Euro is a ball and chain around the necks of the "Holiday economies" because they cannot discount and get themselves back in a position to compete with Egypt and the like and have to keep their prices high to keep in line with EU dictats and inflations.... it is all a house of cards that will fall

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..... and given all this "book cooking" in order to gain entry into the Euro Zone; who didn't check their books at the time and let them in?  The Germans were well aware of the true state of their finances, but let them in regardless.  The whole set up is based on allowing backward and corrupt states into a club, where they think they'll get free handouts from the richer states. The richer states of course believing that they have increased their (protected) export market, so the poorer one's can buy their goods with their bailout money ! 

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These Countries joined the EU basically in the belief they'd get something for nothing. I recall seeing an unfinished road in Cyprus, and some local wit saying "they're waiting to join the EU, so the EU will pay for it to get finished" - true or not, it kinda sums up the situataion. :lol:

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