05 March, 2013

Not for us, thanks

An interesting statement from Michalis Sarris, finance minister of Cyprus (which this blog recognises as southern, or Greek Cyprus), talking about a bailout of his bankrupt failed state; 'There are indications that London would participate in a package..'

This 'country' is bust because it attracted Russian oligarchs with tax breaks and the banks were allowed to take in massive deposits of largely illegal cash. The banks then invested the money in Greek Government debt, propping up the failed regime in their parent country. These Greek bonds turned out to be not such a good investment - who knew? - and when the third rescue package for Greece insisted on some people taking a haircut on their money, these banks were told to offer up their holdings for the haircut, meaning they had even less of the rubbish investments with which to repay their depositors.

Matters are now urgent because the Russians are moving their money out by the shedload and the banks can't repay them.

This has all been a conspiracy by Greece to prop up its corrupt regime using money from gangsters and now it has been found out.

Note to Cameron and Foreign Secretary William Hague: NO THANKS.

We'd have done better to recognise Northern (Turkish) Cyprus - at least it's run by a country with a future.

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