Commentary – EU Economic Crisis and Cyprus

The main issue regarding the Cyprus bank crisis requires no economic theory or degree to understand, and explains why emotions are running so high in the EU right now.
The fact is, the plan to seize money out of every bank account in Cyprus en masse is the most ridiculous and offensive economic idea since the formation of North Korea.

I understand drastic measures must be taken — but THAT is the best idea the finest economic and financial minds in Europe can come up with? Really? Your solution, IMO, seems like the fastest way to create rioting in the streets and have countries consider leaving the EU. The reason people are going berserk right now is that the highly skilled individuals in charge of solving this crisis just failed the common sense test.

Look up from the economic text books for a second, stop patting yourself on the back — if you want the EU to act like a “country”, working together for the best interests of everyone in the EU — you can’t treat the citizens of one of your countries like they need to be punished. The solution to this crisis does not require brute force — it requires intelligence and creativity. Let’s see some.

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