Monday, March 25, 2013
"We have a deal."
The government of Cyprus has decided to confiscate bank accounts.
Europeans now know that not all Euro bank accounts are created equal. There are German Euro bank accounts, and there are other Euro bank accounts.
I expect that, starting tomorrow, all the Euro savings in Europe will be heading for Germany.
This will not end well.
Europeans now know that not all Euro bank accounts are created equal. There are German Euro bank accounts, and there are other Euro bank accounts.
I expect that, starting tomorrow, all the Euro savings in Europe will be heading for Germany.
This will not end well.
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