The Cyprus Crisis is a Microcosm of what can happen if every worst-case scenario happens at the same time. It’s difficult to feel bad for the billionaires not being bailed out this time but for the poor people wanting to buy a bag of groceries the issue becomes easy to empathize with. The domino effect this can have on the economy is scary, but as always the banks will be bailed out, not to save the Eurozone or the small fish, but because of those billionaires that have a strangle-hold on the economy. It’s easy to feel powerless and spin into crisis mode and start flipping over ATM’s, but the same reason the banks got into the mess is the same reason they’ll get out. The fact that these banks are still able to bet on bad debt and a bailout after the 2008 US crisis shows that the root of the problem hasn’t gotten fixed which is why this problem will continue to happen all over the world. There is no personal accountability or punishment for screwing up and playing roulette with other peoples’ money. Let’s hope it lands on black this time or at least double zeros.
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