That Can Will Only Go So Far Down the Road
Bill Quick

The PJ Tatler » Cyprus Depositor Haircut: 25% Off the Top for the Rich

With the Island’s GDP at $24 billion, there are almost 3 times as much in bank deposits as the entire economy is worth. They are going to have to address that fundamental problem if they expect to put their financial house in order.

The parliament has the ability to throw a monkey wrench into the proceedings and blow up the deal. But since the alternative is unthinkable, they will likely swallow hard and pass the legislation.

And then the parliament will fall. And maybe take down the EU with it.

Shrug.

Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

Comments

That Can Will Only Go So Far Down the Road — 3 Comments

  1. And then the parliament will fall. And maybe take down the EU with it.

     

    Don't get our hopes up, Bill.  Sure, the Euros have 2,000+ years of bloody history, and the effete snob elite has suppressed it for less than seven decades, so a bloodbath is inevitable once they get reacquainted with their base instincts. I just wonder if a bigger trigger than Cyprus or the destruction of the Euro is needed. 

  2. Bigger trigger needed.

    Perhaps all those unemployed Muslims in the banlieus surrounding Paris getting extra frisky and trying to torch a cathedral or two, or going after the Louvre. THAT would create a mass exodus of the survivors.