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Shave and a Haircut, Two Billion

April 1st, 2013 - 5:32 am

There are haircuts, and then there are haircuts. Cyprus is the latter:

Russians are believed to have billions of euros in Cypriot accounts and deposits above 100,000 euros (£84,300; $128,200) in the two biggest banks could be reduced by as much as 60%.

That’s up from 10%, then 25%, then 40%.

It’s almost as if the rapacious appetite of the looters can’t be satiated.

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All Comments   (3)
All Comments   (3)
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Socialism is so unsustainable, little Socialists now have to steal from big Socialists.

Big bugs have little bugs
Upon their backs to bite them.
Little bugs have littler bugs.
And so, ad infinitum.
1 year ago
1 year ago Link To Comment
It isn't like that money is just going to be gone. It is being converted into shares of stock in the affected banks. Now who wouldn't mind having their real money converted, involuntarily, into shares of sickly Cypriot banks?

Why, just wait until Bank of America or Citibank get wind of this new business practice.
1 year ago
1 year ago Link To Comment
I guess then that these aren't the Putin favored Russian oligarchs. Otherwise a Russian warship delivering arms to Assad would make a "friendly" port call to Cyprus.
Very friendly.
As in "concerned about your health" friendly.
1 year ago
1 year ago Link To Comment
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