The EU shot itself on the foot once more. The decision it
imposed on Cyprus as a condition to approve a package of financial aid is
indeed a very serious mistake. It sends a very unequivocal message to everyone:
if you put money in a saving account or even invest in a European country that
is facing serious economic difficulties you are a fool.
Nobody wants to be taken for an idiot.
Therefore, in the near future we will see a lot of money and
potential investments running away from countries such as Portugal, Spain, even
Italy, not to mention Cyprus, of course.
The only good thing about being a European idiot is that you
might become a government leader in one of the EU countries. You will join the
club.
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