March 20, 2013


In one of the most extraordinary and obnoxious moves against the people of the European Union the EU Commission and the IMF have confiscated between 6% and 10% of the Cypriot people's bank deposits and given it to the incompetent owners of their banks.

Having just protected the (mainly institutional) holders of bonds in those banks the Cypriot Government has robbed their depositors instead.

The Cypriot Parliament was asked to pass the necessary law over the weekend and the Monday Bank Holiday and then the (LEGAL) robbery will take place on Tuesday morning. To prevent people taking their money out of the country a ban on electronic transfers was put in place. Cypriots have been lining up outside banks cash points to take their money out - but there is doubt as to whether they will save paying the "tax" which will be retrospective.

Thus has the assumption if a European wide deposit insurance established after the 2008 crisis been swept aside and those who did not cause the crisis have been robbed to subsidise those (foolish banks, irresponsible Governments and the EU's disastrous Euro) who did. Even the poorest bank depositors are losing 6.5% of any money they hold in a bank (and which they did not take out of the cash point!) Ironically cash in the Cypriots' hands is now worth between 6.5% and 9.9% more than in the bank!!! Could only happen in the laughable European Union where the robbery is being sold as a "tax" rather than a loss of deposits!

This crass assault on the European peoples is of course nothing new as the 25 million unemployed, social breakdown and welfare collapse in many Euro countries testify but it is certainly the most overt clear and undeniable attack, understood by all, not just in Cyprus but throughout the European Union. The British Government has been forced to offer compensation to any Government employees in Cyprus including of course our troops stationed there. The UK will also undoubtedly be contributing to this bail out through our membership of the IMF - or will Cameron and Osborne voluntarily offer other money, as they did to Portugal!?

Apparently it is all the idea of that arch euro-fascist Wolfgang Schaeuble, the German Finance Minister who in fact had suggested an even bigger robbery! If the German and EU political class were incredulous that they were portrayed as Nazis before this robbery they should not be surprised now.