Has Cyprus cut their own throat by putting a tax on bank accounts?

Question

If they don't allow people access to their money it will destroy their economy. If they do people will start a run on the bank and destroy the bank. Catch 22.

Will Powers · Accepted Answer

It's just like when Americans cut their own throats when voting for Broke OWEBlamer but on a much smaller and therefore less immediate consequence.  However, time is ticking in America, and Broke OWEBlamer, the worst president in US history, has dramatically increased the clock of doom.

QuiteNewHere · Answer

&#92;|If taxing ALL bank accounts big and tiny is the best solution for the survival of the euro currency  in general and Cyprus in particular,  it points to the "grasping at straws" solutions that the best minds can come up with.

They ran OUT Of options. So why will the people do|/ Take all their meager savings out of the bank and keep it under the mattress, behind the walls. on the cookie jar.  Yes, did you foresee the bank run?

xpatinasia · Answer

No.  Your question makes it clear that you have no understanding of the fundamental issues.  You must be a conservative.

Has Cyprus cut their own throat by putting a tax on bank accounts?

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