Sunday, March 17, 2013

Cypriot banking collapse?

Interesting day ahead. The Cyprus bank bailout has a price tag of a 10 % levy on all bank accounts to underwrite and pay for the bailout. There will be chaos as the Cypriot population attempt to withdraw their savings. This could well be followed by a nervous Greek population watching and following suit. It's estimated that Russians have $3.7bn in Cypriot banks, and an alternative Russian bailout may yet emerge to safeguard Russian interests. Why Cyprus and why now? The rest of Europe will be watching this and wondering how safe is their own money.
Meanwhile here in the UK, the ruling Coalition may well be over by this time tomorrow,  with the Conservatives effectively left with a minority government.  The Liberal Democrats know that even they must support legislation to control the gutter press, or face extinction at the next election.
On Wednesday the emperor gets his new clothes, when the deaf, dumb and blind George Osborne announces his budget without even the support of his own party who realise that every budgetary measure introduced by this cretin has failed spectacularly or resulted in one of many many u-turns.This is the man who brought us the pasty and caravan tax.
To summarise,  now more than at any other time in living memory have so many been ruled by so many humoungously inept, stupid , Eton, Bullingdon club stuck up their own arses total fuckwits. The boat is rocking violently but there is nobody rowing.

No comments:

Post a Comment