Originally posted on Pride's Purge:
It’s hard to overestimate the idiotic incompetence of EU finance ministers as illustrated by their handling of the Cypriot banking crisis.
The decision to stop people withdrawing their own money and forcefully taking ordinary people’s savings without warning – in order to bail out banks who continue to pay their useless executives millions in bonuses – is unprecedented.
Do the politicians and EU bureaucrats who made this decision realise what they’ve done?
For the first time in my life – and I’m over 350 years old remember – I see ordinary people are seriously wondering if banks are really the safest places to keep their money in.
The trust that banks have historically depended on – in order for people to go along with the ridiculous system on which all the world’s financial system rests – is in danger of being seriously shaken.
Of course, nobody seriously…
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