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Subplots in the Cypriot financial dramedy

Subplots in the Cypriot financial dramedy. A large amount of the money in Cyprus’ banking system is Russian and a large amount of that is believed to be stolen or laundered. The Cypriot banks are now insolvent due to a reckless investment in Greek bonds. The EU, led by Germany, thinks the Russian oligarchs ought to bear responsibility for bailing out the banks but the Russian government has other ideas. And the wildcard in this poker game is Syria.

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (6)

jcrowley1985 says:

March 23, 2013 at 4:58 pm

It would have never have gotten this bad if Corporate Greed didn't steal our gold in the first place.
- sa_rose says:
  
  March 25, 2013 at 9:00 am
  
  I want you to produce this person, this Corporate Greed. Becauseonly PEOPLE can be greedy, not buildings or the names of companies or whatever. So until you can produce the PERSON corporate greed, who is responsible for all this theft, etc., STFU!
- Not so silent says:
  
  March 23, 2013 at 5:38 pm
  
  You just keep being a moron, it is what you are best at..Now your an expert on Foreign money matters...Eat Feces and Expire dipshit.
poppajoe49 says:

March 23, 2013 at 3:48 pm

So, how long before Obama offers to bail out Cyprus with our tax dollars? Is this what he meant when he told Putin that he would have more flexibility after the election?
- Bonfire of the Absurdities says:
  
  March 23, 2013 at 4:46 pm
  
  I read somewhere where a possible Fed bailout was one rumor going around. The reason for this happening: if Cyprus fails to bailout its banks, they may be forced to leave the Euro and that could potentially open the floodgates - many people in Spain, Italy, Greece, even Germany want to leave the Euro Roach Motel. The first one to go may start a jailbreak. In the long run, it would be a good thing for this idiocy to fail but in the short run, would cause dislocations as the financial deck is reshuffled. Since Obama and probably Bernanke are at heart Eurocrats, they are probably convinced that the Euro-unicorn-shit-utopia is "winning the future" and believe that if it fails, a financial armageddon shit storm will descend on the whole world from the sky.
  - sa_rose says:
    
    March 25, 2013 at 8:58 am
    
    I saw a chart the other day that shows America's taxes are at an average of around 18%, and have no VAT attached. That puts is at like # 64 out of 80. The European countrie on the other had are paying some 48% (denmark) of their salaries in tax. England is I believe 42% with VAT added on. And this is what thelefties want for us? No thank you!
    PS Botswana has a higher tax rate than us! Significantly hight, like in the 35% range.