by Stephen Lendman
Grand theft is now official policy.
Solutions worse than problems don't resolve them. Cypriots face protracted hard times. Former IMF chief economist Michael Mussa explained three kinds of crises: liquidity, solvency and stupidity.
BoomBustBlog 's Reggie Middleton says "economic depression is the new success." It's the new normal. Scoundrel media reports downplay the damage done.
"The danger of Cyprus' bankruptcy (and) tragic consequences for the economy and society are just getting started."
Eurocrats lied. They claim "boiling slowly in a pot of austerity flavored depression is preferable to a quick and clean exit and rebirth."- Advertisement -
"Ready! Set! Bank Run!!!"
Cyprus reflects a watershed moment. Confiscating personal wealth becomes official government policy. Eurocrats and Cypriot officials bypassed parliament. Ordinary people had no say.