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?

4 comments:

Anonymous said...

tell the banksters to go to hell. They caused this mess along with govt's who forgot the wisdom of the ANCIENT GREEKS- PAN METRON ARISTON.

George Michelis said...

I think the Greek case study for the last 2 years -still ongoing- is a very good paradigm to avoid going like a sheep for slaughter. If you can negotiate -real negotiation- do it now with the best people on board, otherwise i believe Cyprus will become as well an experiment or another country happening to belong in the southern group of Europe. Coincidence? The numbers are astronomically high...no doubt about that, fully agree with you.

Alexander Apostolides said...

And like Greece, those who brought the country to this situation will get away from it...

Alexander Apostolides said...

And the people who forgot that someone needs to pay for their son to have a very well paid cushy job in government...