The Phaserl


Regrets Pour In; Cyprus Parliament Passes Bailout Plan; Will Her Highness Approve?

by Mike Shedlock, Global Economic Analysis:

The Cypriot parliament passed bailout measures today, but they are not quite the measures that Her Highness, Angela Merkel approves. They are not measures Cypriot citizens will approve of either.

Let’s take a look at the present state of blackmail, as passed by Cyprus and reported by the BBC.

MPs in Cyprus have voted to restructure the island’s banks – one of several measures to ease the crisis, which has hit confidence in the eurozone. They have also approved a “national solidarity fund” and capital controls to prevent a bank run. MPs did not vote on a key measure – a levy on large bank deposits. They rejected similar moves on Tuesday.

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