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>>>The rational will transfer their accounts to more stable banks, e.g., in Germany Ah, so Cyprus will just collapse on its own then without any repercussions
by mikecane 14y ago
>>>The rational will transfer their accounts to more stable banks, e.g., in Germany
Ah, so Cyprus will just collapse on its own then without any repercussions elsewhere? I don't think so.
- jk4930 14y agoCyprus won't collapse (and even if, that's not the end, they'll stand up again and as an EU member state they'll receive help as they did before). Their banking sector is overblown and the intention is to reduce it to EU average by 2018. They tried to copy Luxembourg, but screwed it up. Now they have to come up with something different. Anyway, that's far away from your "death spiral of the entire worldwide financial system." :)
- mikecane 14y ago>>>Anyway, that's far away from your "death spiral of the entire worldwide financial system." :) We'll see. Bank accounts are private property. This is an unprecedented confiscation. And if this happens without open rebellion, nothing is safe for anyone anywhere.