Oh god, Cyprus is about to burn to the ground thanks to some Inane decisions by the IMF. Huge wake up call is due for Europe come Tuesday, I can just see it. For the uninformed, people with <100k in the banks are gonna have 7% of their deposits seized by the banks to bail out the country, and anyone >100k is gonna have 10%. Best part? Most of the companies and politicians have already withdrawn their funds. Tuesday's gonna be hell for us too, we have the same holiday as Cyprus. What I mean is, this is gonna spread some fear over Europe, and if this isn't handled quickly it can get out of hand.
I'm not followed up on American politicians as of late, can yah give me a clue as to what their position might be? Other then that, reading up on the matter thing seem much worse. They can't say if this is gonna be a one time thing, or if this is just one of many seizes in these failed economies. Man the implications of doing something like this in Spain or Italy would be dire, bank runs will be happening on the daily.
What I don't understand is why Cyrpus's president thinks this will 'save' them.
Logically, doing this will result in people not putting any more money in the banks, and removing all they currently have. They have withdrawl limits right now, but once they are removed then people are going to pull out their money.
Then again, logically. Sad thing is that politicians, when it comes to monetary issues, have no logic at all.
I'll be awaiting the inevitable mass rioting and all the entertaining stuff that goes with that - Looting, destruction of property, murders, and (In this case) assassinations. (Seriously - For a move like this someone is going to try to whack the president. Depending on how pissed off the people who guard him are, Cyprus might end up having a new president.)
I think the SAs are using that very colour right now!
I did not even notice that.
I see you're joining Nica, Syd and Alexial in doing green Pokemon avatars/sigs for St. Patrick's Day as well. And yeah, really hilarious titles in place of the userbars lol. I love the Supporter one being called "Festive Green Peeps", made me crack up.
Location: Above Singapore, below Thailand. Hm, you don't know where that is?
Ooh, Happy St Patrick's Day to all! My country doesn't celebrate it, so I wasn't aware of it.
Nice green mod names! :D It's only for today, right? Awesomee. (Y)
I just got back from a community service project for one of my units. We had to sort out loads and loads and loads of donations and recyclable items made by the public in forms of paper, clothes, tin cans, bottles, etc. etc. Man was there a LOT of stuff! The heat didn't help one bit either. :< Oh well, my team members did have quite a good chat among ourselves. Learnt a lot about other countries and lots of other things.