Stealing is the new normal for government in Europe.
BRUSSELS, Belgium, February 8, 2013 (ENS) – European heads of state and government have agreed to commit at least 20 percent of the entire European Union budget over the next seven years to climate-related spending.
The seven-year budget was agreed at 960 billion euros ($1.28 trillion).
Climate Gets 20 Percent of Seven-Year European Budget | Environment News Service
And the US does it by printing vast sums of money and fiddling the inflation rate index.
…and by going after all those people (including the poorest) who don’t want to spend their money on “health insurance” (only to enrich the insurers).
If a bank is overstreched and undercapitalised but payes very good interest rates that it cannot sustain, exactly who but the share holders, bond holders, and depositors, should bail them out?
Cyprus didn’t take the money – the failed banks did, and someone has to pay it back.
Well soon there will be a choice to opt-out of the EUSSR-IMF-USSA debt-peonage prison
http://rt.com/business/bank-rival-imf-world-852/
Funny how predominantly former Communist nations are now the last bastion of freedom against a totalitarian new world order…they have suffered the experience and learned, and do not want to suffer through that again.
We’ll be lucky if the West collapses before they start WWIII
steveta_uk says:
March 28, 2013 at 4:48 pm
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Steveta
It is slightly more complex. The Cypriot banks held deposits of about 7 times the GDP of Cyprus. Cypprus has no significant manufacturing or industrial based industry to invest in. The only real industry is tourism. The Cypriot nanks had little in way of domestic investment opportunity and therefore looked overseas.
Cyprus has always enjoyed a close connection with Greece (indeed it used to be Greek0 and the banks chose to invest in Greece and in Greek government bonds. At the time when they ventured into those investments the EU was indicating that there would be no haircut with Greek government bonds. The greek economy went belly up and with that, the Cypriot ibank’s nvestments took a hit. The EU sold them a pup with the Greek government bonds and late in the day decided that bond holders would after all take a haircut. Hence another failed investment.
The EU do bear some responsibility with respect to the situation with the Greek government bonds since the Cypriot banks bought into those at a time when the EU was indicating that they were safe.
Of course, I accept the thrust of your comment that someone has to pay, But tjis article is on the madness of wasting $250 billion on the green economy/renewables when that money could be better spent in the real economy and getting UK out of its economic woes.
Well put Richard.
5% of the money the EU will waste on the watermelon green economy would pay out the Cypriot debts. It’s almost like someone wants to create riots so the paramilitary police get to practice on unarmed demonstrators.
I’m old and rapidly coming to my end date, but I want to see how this 7 year plan works out.
The “EU” targeted private property. The bad Russian money was just the excuse. There is Russian money in Frankfurt, London and New York, and black German money everywhere. The pretext was the bad Russians, the end goal is gas. Shaking up the Italians was a fringe benefit.
Now, re Greece and other euro land countries: We have been blackmailed, bribed (it takes two to tango), cajoled to buy German trash. The CA balances show it. The EEG laws have been stuffed down our throats to promote more German trash. Green Fraud made in Germany. Poor guys… They are freezing…
Global warming causes freezing… Didn’t Hansen repent?
We in the West aren’t just passing the torch to the Far East, we’re practically throwing it at them.
Hmmmm
250 Billion. Tell us where when how the money is going to spent. In short who exactly is getting rich off of this? Someone(s) always are. But funny thing is the public never finds out unti after the fact. You know when it is to late to do anything about it.