Europe’s Disturbing Precedent in the Cyprus Bailout

Stratfor

By George Friedman
Founder and Chairman

The European economic crisis has taken different forms in different places, and Cyprus is the latest country to face the prospect of financial ruin. Overextended banks in Cyprus are teetering on the brink of failure for issuing loans they cannot repay, which has prompted the tiny Mediterranean country, a member of the European Union, to turn to Brussels for help. Late Sunday, the European Union and Cypriot president announced new terms for a bailout that would provide the infusion of cash necessary to prevent bankruptcies in Cyprus’ banking sector and, more important, prevent a banking panic from spreading to the rest of Europe.  The Crisis in Cyprus –VIDEO

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via Europe’s Disturbing Precedent in the Cyprus Bailout.

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2 Responses to Europe’s Disturbing Precedent in the Cyprus Bailout

  1. Pingback: Criminal Act: The European Union’s Financial Looting of Cyprus — State of Globe

  2. Pingback: The Cyprus Bailout Pits East vs. West: European Union Is All About World War III. | Political Vel Craft

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