The Aged P

Oh how we are laughing at those crazy Cypriots….debt and bank assets as a percentage of GDP equals a humungous 700%. No wonder they are caught between Merkel and Putin…

If you have a banking sector that size you’re asking for trouble – for how can a state guarantee for depositors be credible? If the banks go under the state wouldn’t be able to rescue the savers

How much better off we are in the UK with our own rock solid banking structure – we are just a mere 450% …..

WTF? 450%?

Worse than those basket cases in Spain and Italy?

No problem….you can always trust a British banker….lol

So the Cypriots have given Angela Merkel and the EU the finger – instead they have turned to Putin’s Russia

Cyprus turned to Russia for help on Tuesday night after the country’s parliament overwhelmingly rejected a tax on the deposits of bank savers.

Despite warnings from the EU not to touch the Russians with a barge pole Cyprus is looking for help from the KGB men who now rule Russia and have been using Cyprus as a “helpful” venue for laundering investing their hard earned “profits”

It could be seen as a smart negotiating ploy – calling the EU bluff. I would imagine there might even be a bit of panic in Brussels because if just one Eurozone member decides to go it alone politicians in Athens, Rome and Madrid will start having second thoughts and the whole Euro farce might start to unravel.

Prepare to add another notch for UKIP…