Nobel Prize-Winning European Union Acting Like USSR, Russian Prime Minister Says

back to the ussrsheikyermamiCyprus’ parliament on Tuesday rejected an effort by the European Union to impose a bank levy on Cypriot account holders to help finance a bailout of the country’s banks. In response, the European Central Bank told Cyprus it has until Monday to raise the money ($7.5 billion) or the $13 billion bailout is off the table. Last night, senior Eurozone finance ministers reportedly began to talk openly about Cyprus leaving the euro. A few short years ago talk of countries exiting the Eurozone was considered extreme. The EU Observer notes a 2009 legal study by the European Central Bank found that while a country could not voluntarily withdraw from the euro, it could be expelled. Finland began openly discussing contingencies for a break-up of the euro last year, with the country’s foreign minister suggesting that it might even “make the EU function better.” Switzerland’s more extreme (!) contingency of dealing with regional violence and refugees as a result of the euro crisis became public last year too.

A sizable portion of Cypriot accounts are held by Russians, making Russia especially interested in what’s happening in Cyprus.  Russian Prime Minister Dmitri Medvedev compared the EU’s actions to that of a “bull in a china shop” after Cyprus rejected the bank levy. “I can only compare it some of the decisions taken ... by Soviet authorities, who did not give a thought to the savings of the population," Medvedev said. The EU won the Nobel Prize last year, joining winners like Barack Obama and Al Gore. Cyprus and Russia are in talks today for a possible separate financial rescue and Cpyriot banks remain closed until at least Tuesday.

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  • 16th amendment||

    I think reason magazine ought to win a nobel peace prize.

  • ||

    I disagree, the old Soviet Union would have invaded Cyprus, executed its leaders, and then installed a puppet regime that would go along with whatever they demanded of them.

  • entropy||

    Except for the executions how is that different from Italy or Greece?

  • Almanian.!||

    The Russians would be involved?

  • entropy||

    Touche, tovarisch.

  • Auric Demonocles||

    Nobel Prize-Winning European Union

    That's less impressive than you imply, when you consider this woman lost to Al Gore because he made a movie.

  • StackOfCoins||

    Wow, never heard of her. Whatever body of morons is handing these out has truly made a mockery of them. The nobel prize has been politicized into absurdity.

  • Auric Demonocles||

    Do you know how much CO2 those babies have contributed to global warming over the year? What a bitch!

  • R C Dean||

    For awhile there, skeptics referred to it as the EUSSR. With good reason, apparently.

  • Brett L||

    When did we stop?

  • CampingInYourPark||

    "After the Federal Reserve reaffirmed its easy money policy Wednesday, Chairman Ben Bernanke was asked whether the U.S. would ever think of taxing bank depositors as Cyprus has done. He said that was very unlikely but Jim Rickards, senior managing director of Tangent Capital Partners, says the Fed already has its hands in depositors’ pockets.

    "'Nobody is stealing more money from bank depositors than Ben Bernanke,' Rickards tells The Daily Ticker. Bernanke's doing that, Rickards says, by maintaining interest rates near zero."

    http://finance.yahoo.com/blogs.....51783.html

  • Almanian.!||

    If there were actually no inflation, then I'd be fine not making interest on my bank deposits.

    But the fact is that there IS inflation - the gummint just keep moving the goalposts and changing the "basket of goods" to hide that fact.

    Fuck all these motherfuckers, starting with The Bernank.

  • BakedPenguin||

    [Cypriot] banks remain closed until at least Tuesday.

    After which, they will re-open, then permanently close again shortly thereafter.

  • Almanian.!||

    I Soviet Russia, banks deposit YOU!

  • Almanian.!||

    PS, my fave in all this: "a country could not voluntarily withdraw from the euro"

    I expect this from the uber statist Euros. But it's just like a State in the US can't secede, amirite? But it's a voluntary association between states. The states signed on as parties - they surely can sign off. Oh, wait, no - "the Civil War decided this".

    Geography truly is destiny. Ain't that a bitch.

  • phandaal||

    I do enjoy the argument that the Civil War "proved" that states can't leave the Union.

    That's like saying a thug "proved" they have the right to a woman's purse by robbing her at gunpoint.

    In both cases, the only thing proven is that some people will resort to violence to get what they want.

  • Pro Libertate||

    Should we invade Europe to free its countries from the EU? Seems like some oppression is going on, and, after all, we're responsible for ending all evil in the world.

  • Sevo||

    In the 24/7 department (over there), there's a note that the French are going to put a max on private business compensation.
    So we won't need to invade Euro; the successful business folk will be invading us

  • CampingInYourPark||

    "So we won't need to invade Euro; the successful business folk will be invading us"

    Why the hell would a successful business folk try to come here? HAHAHAHA

  • Sevo||

    ..."that was very unlikely"...
    Long ways from "NO!", isn't it?

  • R C Dean||

    Yeah, I read that to be "Sure, someday, but not soon."

  • Invisible Finger||

    I read it to be "I'm already doing it but if I said such a thing then I wouldn't be able to do it anymore."

  • Anonymous Coward||

    No matter what the Euro-crats do now, the smoke has already been released from the bottle. The minute those banks open back up, whether it is next Tuesday or next year, everyone in Cyprus is going to get the teller windows and the bank run will be on. Question is, will it just destroy Cyprus', or will the rest of Europe go with it.

  • Invisible Finger||

    People forget that when the run on IndyMac happened a couple years ago, the FDIC basically wrote checks to the depositors post-dated 60 days. If you had an account at another bank already you were OK, but if you wanted to open an account with the FDIC-issued check the account would be frozen until the assets were released, which could be as long as 8 weeks.

    I expect Cyprus will enact some sort of capital controls such that a max of 2K can be withdrawn per week (some preferred customers may get a different deal). It will be a severely-controlled bank run. This will buy them time to organize a new bank or two.

  • BuSab Agent||

    I sure hope the moron who suggested this gets fired by the Illuminati or whoever is supposedly in charge of the world banking conspiracy, because that was nuclear grade stupid. Banks and governments have been swiping peoples savings for centuries, but you got it to do it all stealthy like a pickpocket with inflation so that people don't catch on that they're lost it right away, and are never quite sure who got it. This Cyprus thing is equivalent to a mugging in broad daylight, the marks are NOT coming back..

  • Xenocles||

    I'm really hoping the Euro breaks up from this or something like it. I'm aiming at joining the PT set in a decade or so and I'd much rather trade my dollars for pesetas et al. rather than euros.

  • SumpTump||

    Lets jh=hit it up man.

    www.Anon-Today.tk

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