3 ms·
It amazes me how many people mention tax evasion, and other excuses for apportioning of liability. The liability should lie with the people who bought the Cypr
by Guthur 14y ago
It amazes me how many people mention tax evasion, and other excuses for apportioning of liability.
The liability should lie with the people who bought the Cypriot/Greek debt in the first place. They are the ones that in essence lent the money to these two tiny countries when it was obvious it was out of control and would blow up.
But where is the incentive not too when the liability is offloaded to people who had no part in the debt transaction; either the citizens or other third parties.
To me these risk balances are way out of whack and are just asking for the irresponsible fiscal activities we are seeing.
- Paradigma11 14y agothe cypriot banks bought the greece dept, that is the problem.
- Guthur 14y agoAnd the Greeks bought the Cypriot debt maybe; humour attempt. This doesn't really change my assertions, the Cypriot debt holders should take the hit first, let the pain filter through the whole rotten trail.