Tuesday, 24 July 2012
They can not be serious! 13Bn is crazy
It seems that the amount of the Cyprus bailout is nearing a final amount of 13 bn. That is crazy, comming out to 16,185.3 per man, woman and child in Cyprus. We can never pay that - if our needs are that high ( i doubt it) we need to default now and learn from Greece- at least renegotiate. With debt to GDP of 160% we need not to wait and realise it unpayable latter, increasing uncertainty. A haircut is not an option either-pensions would be blasted. can we borrow less for stupid banks please?