EU just cutting its nose off in-spite its face

by Michael Smith (Veshengro)

The EU has decided to give Cyprus a bank bailout package that will penalize banks' customers via a levy that everyone who has any money in a Cypriot bank is forced to pay and a run has begun on Cypriot banks with people withdrawing their money.

Bank robbery a la Cyprus 2013

This savings tax, as it is being referred to, is automatically deducted from account holder's accounts without them having any say in the matter. This is the state stealing people's money by order of the European Union.

The fear is now that this could set a precedence for the banks in other countries such as Greece, Italy, Spain and Portugal and it could just happen that investors are going to withdraw deposits from banks in those countries.

Chances are that such actions, should they happen could bring the Euro to its knees and with it, more than likely, the EU altogether.

Banks, apparently, will be closed until the moneys have been withdrawn to prevent people taking their money out of the banks and thus foiling the plot. Initially it was said that this closure of banks would be just until Tuesday, March 19, but this has now been extended until Thursday, March 21.

No wonder the powers-that-be want everyone too no longer use cash and, in the UK, any cash transaction above a certain amount, presently one thousand pound, will immediately be informed to the police. So, if you go into a store to buy an expensive PC or a plasma TV or a car in a car show room and come in with the money in cash the store will immediately call the police who will then come and ask a lot of questions.

© 2013