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.