[ExI] cyprus banks

[Andrew Mckee]

On Mon, 18 Mar 2013 17:29:31 +1200, spike <spike at rainier66.com> wrote:

>
> I don't know what to make of this notion of Cyprus taxing bank deposits.  I
> would have never thought such a thing would even be discussed, for fear that
> it would cause immediate bank runs everywhere in Cyprus, starting Tuesday
> when they open, and rippling outward with Greece next, then Ireland,
> Portugal, Spain, possibly Italy.
>
> Europeans, do feel free to comment, or not:
>
> http://www.cnbc.com/id/100560852
>
> Any rescue attempt I would think would need to come from those who own
> property, not those who own currency.  Reasoning: they have just
> incentivized the Cypriots and pretty much everyone else holding euros to
> convert them to metals.

I'm beginning to think that those behind these so called 'austerity measures' are less concerned with sound economics and more interested in ending the civilized world as we know it. :-)

Hmmm, I wonder, does this mean the Singularity might be delayed a decade or two.