Saturday 23 March 2013

Cyprus: The Pantomime Continues.

The Cypriot Government continues to debate how it can avoid political suicide by getting a bailout and not stealing bank savings to pay for it.

The most likely answer is they will take the bailout and hand over up to 30 percent of bank savings accounts over. At least there's a chance that they can blame the theft on the European Polictical elite and the ECB, they can argue that they had no other choice. It wasn't our fault, it was the ECB and Germany who did it... please vote for us again.

However it could be the pantomime being played out is a way of threatening the rest of Europe. For instance, what would happen if Cyprus didn't take the bailout?

They would probably drop out of the Euro and go back to the Cypriot pound, they would then regain mastery of their financial affairs, no longer shackled to Europe and their heinous demands.

Sure, savings in Cypriot banks would effectively devalue and the risk is they may devalue by the same amount the bailout would take. But then again, it may not.

The thing is, removed from the shackles of the Euro, Cyprus would be able to plan its own recovery, free from the demands of the Euro zone.

The danger for the Euro zone is that Cyprus recovers quicker and stronger than would have been the case had it stayed in the Euro.

But we all know that will never happen because the corrupting lure of the European Political elite, all the junkets, all the showmanship, is too addictive for them to ever contemplate leaving the Euro.

Tuesday 19 March 2013

Last Chance Saloon for Freedom of Speech.

Make no mistake, yesterdays "deal" between the parties to regulate press freedom is the last chance we have of keeping any semblance of free speech.

I bit melodramatic? I don't think so, because the press are the only people with the money and the power to resist political interference. If they don't grow a set in the coming weeks and tell the political elite to do one, then the next tier of free speech they'll come after is us, the bloggers. Primarily Guido, but anyone else who has the connections to get information they don't want released and the ability to post it up in a public space.

So, here's a challenge to the currently "free" press: You have a job to do, are you going to to the easy thing and capitulate, or are you going to tell the political scumbags to fuck off?

Excepting the Guardian from the argument, who are as bad as the French for surrendering.

Daylight Robbery: Icing the Iceland Effect

Yep, I'm on about Cyprus, where the government have caved in to EU demands and effectively decided the thieve a percentage of every saver's bank account. When exactly governments were given the power to help themselves to saver's bank accounts I don't know, but it's a canny way of avoiding Cyprus "doing an Iceland" and telling the government and the banks to fuck off. Just steal part of the money needed to reduce the bail out.

Hopefully there will be full blown riots in Cyprus with the Police joining the rioters as everyone will be affected by the money-grab.

The Cypriot government is on very shaky ground.

And those in power in the rest of Europe will be watching very, very closely.

If it doesn't kick off royally in Cyprus expect daylight robbery to become a common tactic of any future bailout plan.

The people of Europe should take this as a shot across the bows from the political elite. They should respond in kind.