The Cyprus deal announced late Sunday night dictated the terms to Cyprus President Anastasiades and required a "downsizing" of the country's financial sector, aided by daylight robbery of depositors' accounts but calling them "contributions" to save the banks.
Four days into the worst crisis to hit the island nation since the 1974 invasion by Turkey, Cyprus’ lawmakers did the unthinkable and the unprecedented Tuesday: In voting unanimously to reject the levy on bank savings mandated by EU authorities in Brussels to pay for a bailout, Cyprus has become the first country to openly defy the will of EU financial Powers That Be and the international banking cartel that they serve.
The specter of default has reached the shores of Cyprus, the latest country in the Eurozone to require an EU bailout in order to stay afloat. The island nation in the eastern Mediterranean has one of the smallest economies in the Eurozone, but, because of close financial ties to Greece, its finances have been on the ropes since the Greek debt crisis began. Now it’s time to pay the piper — and Cypriots are shocked at the price to be exacted by the international banking cartel.
Despite openly admitting the failure of prohibition by conceding that drug use has not declined after decades of United Nations-mandated “war on drugs” policies, the UN and its mostly totalitarian member regimes have been meeting this week in Vienna, Austria, seeking to expand the controversial drug war even further. Critics of the dubious UN “Commission on Narcotic Drugs” (CND) schemes, however — ranging from a coalition of American law enforcement officers to Latin American heads of state — are increasingly calling for new approaches to the problem.