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View Diary: Bank Run in Cyprus, Will it Spread to Southern Europe? (322 comments)

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  •  That may be so. But those sentiments (0+ / 0-)

    always pass, there are plenty of data points. If the consumers would rather put their money elsewhere but lose the value of their equity, that is their prerogative. It may be another bad economic choice on their part though.

    •  Of Course They Will (11+ / 0-)

      Because the future of their investment is dictated not by the markets, but by decisions made in the Bundestag in Berlin, where they don't have representation. Anyone who keeps their money in a Cypriot bank is a fool, as Germany sees their deposits as assets to be drained whenever they are needed.

      "I'll believe that corporations are people when I see Rick Perry execute one."

      by bink on Sun Mar 17, 2013 at 06:18:07 AM PDT

      [ Parent ]

      •  That is sort of backwards IMO. (2+ / 0-)
        Recommended by:
        shrike, marsanges

        What right do Cypriot depositors have to demand that the Germans bail out their banks? Because the Germans won't, you see that as this being Germany's fault? The fact is that Germany has been left holding the bag for this entire mess almost entirely on their own, and this gambit is simply their way of saying that the burden must be shared if we are to emerge from this. There is pain to go all around here. I'm not sure why a 10% loss is something people think is so unfair. Everyone chips in and maybe the ship gets righted. Nobody is escaping pain.

      •  They aren't even made in the Bundestag, (3+ / 0-)
        Recommended by:
        FishOutofWater, Siri, nchristine

        which even the Germans know is staged theater.

        It's made in the HQ of the Deutsche Bundesbank.

        Dogs from the street can have all the desirable qualities that one could want from pet dogs. Most adopted stray dogs are usually humble and exceptionally faithful to their owners as if they are grateful for this kindness. -- H.M. Bhumibol Adulyadej

        by corvo on Sun Mar 17, 2013 at 06:40:33 AM PDT

        [ Parent ]

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