Cyprus lawmakers reject bank tax; bailout in disarray
Michele Kambas and Karolina Tagaris, Reuters | March 19, 2013
… With hundreds of demonstrators outside the parliament chanting “They’re drinking our blood”, the ruling party abstained and 36 other lawmakers voted unanimously to reject the bill …
The EU and International Monetary Fund are demanding Cyprus raise 5.8 billion euros from bank depositors to secure the bailout it needs to rescue its financial sector. …
Note the propaganda terms used by the media in these articles such as “rescue” and the alternative is called “meltdown”. Making people poor by stealing their money – or other austerity measures carried out elsewhere – is portrayed as “rescue” or “stability”.
Governments should not be borrowing money. All debts should be renounced because this whole thing appears to be orchestrated to destroy national sovereignty and independent national cultures. Everyone will end up reduced to poverty and “interdependence” instead of being independent.
Cyprus bank levy: UK to compensate troops and government workers
BBC News | March 17, 2013
The UK will compensate any British troops in Cyprus hit by plans to introduce a bank levy as part of a £9bn EU bailout, the chancellor has said.
Euro zone urges Cyprus to spare smaller savers from bank levy
Michele Kambas and Harry Papachristou, Reuters | March 18, 2013
A weekend announcement that Cyprus would impose a levy on bank accounts as part of a 10 billion euro ($13 billion) bailout by the European Union broke with previous practice that depositors’ savings were sacrosanct….
“Essentially parliament is called to legalize a decision to rob depositors blind, against every written and unwritten law,” said Yiannakis Omirou, speaker of parliament …