‘This isn’t going to stop with Cyprus’
The Cyprus liquidity crisis will only lead to violence, Wide Awake News founder Charlie McGrath has told RT. The journalist warns that the Cyprus solution may serve as a model as the wider EU deals with the financial crisis.
Michael Snyder: The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts - So exactly how did the big banks in Cyprus get into so much trouble? Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing. They have been gambling with our money. In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing. But what happened in Cyprus is just the tip of the iceberg. All over the planet major financial institutions are being incredibly reckless with client money. They are leveraged to the hilt and they have transformed the global financial system into a gigantic casino. If they win on their bets, they become fabulously wealthy. If they lose on their bets, they know that the politicians won't let the banks fail. They know that they will get bailed out one way or another. And who pays? We do.
Stefanos Evripidou/Cyprus Mail: Limits now in place for re-opening of banks - text of decree included