posted on Mar, 26 2013 @ 02:30 PM
Currently, there are many speculations that what happened in Cyprus for EU bailouts will serve as a template for all future bailouts in the EU.
In truth, only truth can set us free.
Let us analyze why greece, which many cypriots complained, had FULL bailouts and haircuts, and yet Cyprus was given none.
The awful realities are that in the case of Greece, it was the govt at fault for failing to oversee the banks with better regulatory measures as well
as ending its endermic TAX AVIODIANCE and corruption issues which were the core root problems of its demise.
The banking system played ball, or at the least, did as instructed by the greek govt. The greek bonds failed, as there was no sensible way Greece
could pay back those HUGE loans it took, under closet corruption agendas. Bankruptcy was the only norm under the true capitalist system.
Fortunately for them, bleeding heart EU stepped in to save them by pumping vast amounts of taxpayer monies and savings from the richer nations in EU
such as Germany and France.
It was not a banking problem, but rather the demagogue politicians' despicable greedy errors that caused the collapse. Thus EU propped up the banks
with its taxpayers funds to save the rest of the depositors.
However, Cyprus WAS a banking problem. Despite EU warnings for more regulatory controls and oversight over that bloated low tax economy based
unsustainably solely upon banking, its govt and the cypriots gave the middle finger to EU, resulting in warnings ignored.
As such, when SHTF with the banking crisis, its vast sums given low taxation and promised huge returns, bombed.
EU could just walk away, let Cyprus bankrupt itself, as per free market capitist rule of being responsible for one's mistake, but bleeding heartedly,
it tried to save Cyprus with the bailout, but ensuring the govt and bankers acknowledge its mistakes and correct them, and thus a 'pain' levy to
ensure that they learn.
Yet cypriots blame the already over taxed germany and EU taxpayers for saving the masses.
The capitalist free market is bound and ruled by its own laws. Adam Smith alluded to the mystical 'Free Hand' of the market that regulates the
market. But unfortunately, wealthy elites sought to be that 'free hand' to move markets, and only resulted in widespread destruction of the market,
as it was human self imposed and not from the unknown immortal market's 'Free Hand'.
Like any laws, it will be tampered with compassion, and thus each bailout is viewed and judged upon its merits on a case-by-case basis, and not one
size fits all as many in the world feared about EU's bailout stance. There is no need to fear a repettition of what happened in Cyprus being
replicated for other nations.
Greece was only a political mistake, and be corrected when the masses are more aware of what's going in the nation to elect better representatives so
as not to repeat the same mistakes again.
Cyprus was a Banking and govt regulatory mistake, and thus, in this day and age of accountability and the end of making the small guys pay for the
mistakes of the big guys, 'pain' levy was instituted so that all may learn and progress from it.
EU. ECB and IMF are manned by civilised fellow humans, to share cavier during good times and broth during bad times. They could have walked away from
Cyprus just like Russia's Putin did after being worshipped by cypriots as being the saviour but turned out to be an uncaring bast*rd.
Cyprus is only a small state, and the Troika could anytime, let it bankrupt and everyone far worse off with no hope for the future, but it did not,
for we are all fellow humans, and wealth will be shared, not equally, but fairly so that none be left behind as all will still have a measure of small
sustainable short termed wealth left after the bank collapses.
May cypriots know the truths, differentiating them from the many self defeating hate filled conspiracy theories spewed by the ignorant over this
affair, and overcome this harsh time together as one people, one nation, and one EU.
Cyprus, being a great tourism destination is fully capable of gaining immediate wealth with right tourism polices as well as finding niche areas for
manufacturing, agriculture and services, should know the value of welcoming EU members and world now, rather than to live in hate, anger and chaos
which will only result in the destruction of its GDP and hope for oneself and innocent future generations.