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No, it is completely fair to only blame Cyprus (the people obviously in extension of the leadership), given that Cyprus got itself into this mess and needs Euro
by claudius 14y ago
No, it is completely fair to only blame Cyprus (the people obviously in extension of the leadership), given that Cyprus got itself into this mess and needs European money to find a way out. Expecting them to contribute[0] at least a little bit to the bailout is perfectly fine, and it is not the EU’s job to police how Cyprus procures said contribution.
[0] This is true even more since contrary to Greece or Ireland, there’s no indication whatsoever that Cyprus will ever pay back 10 bn €.
- kyriakos 14y agoIts not Cyprus to blame for EU's decision to write off the Greek debt about a year ago. Cyprus economy and banking system went from healthy to sinking boat overnight because of that decision of the eurogroup which it didn't have control over. Now the eurogroup came back to penalize Cyprus for not having that money that eurogroup itself took away.
- bitcartel 14y agoJust 18 months ago, the EU said that Cypriot banks were healthy and had passed EU-wide bank stress tests. http://www.cyprus-mail.com/cyprus/cyprus-banks-pass-eu-stress-test/20110716 http://www.cyprus-mail.com/cyprus/cyprus-banks-pass-eu-stres... Many think the bank stress tests are a joke and only exist to raise investor confidence. If true, then those people so quick to criticise Cyprus, might soon find themselves sharing the same fate.