110
For a European Wealth Tax
1
terms
1
notes
110
The problem of the day is that Cypriot banks, in effect, don’t have that money anymore: it was invested in now-depreciated Greek bonds and real estate investments that were partly illusory. Quite naturally, the European authorities are reluctant to bail out banks without getting anything in return, especially if that ultimately means bailing out Russian millionaires.
just an interesting example of how big the chain of failure was (and still is)
The problem of the day is that Cypriot banks, in effect, don’t have that money anymore: it was invested in now-depreciated Greek bonds and real estate investments that were partly illusory. Quite naturally, the European authorities are reluctant to bail out banks without getting anything in return, especially if that ultimately means bailing out Russian millionaires.
just an interesting example of how big the chain of failure was (and still is)
troika
(en)
(noun) a Russian vehicle drawn by three horses abreast / (noun) a team for such a vehicle / (noun) a group of three / (noun) an administrative or ruling body of three
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After months of reflection, the members of the now famous troika (the European Commission, the ECB, and the IMF) got the disastrous idea to tax all bank deposits
notable
9 years, 1 month ago
After months of reflection, the members of the now famous troika (the European Commission, the ECB, and the IMF) got the disastrous idea to tax all bank deposits
notable
9 years, 1 month ago