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European Union closes Cyprus bank and seizes large deposits!

Yes, I will repeat that, European Union closes Cyprus bank and seizes large deposits!, democracy within the European Union is officially dead and the effects on Cyprus and its people will be felt for decades.

I think the British people will agree, this says everything about the European Union that we all knew but hoped was wrong, now we know and we need to get out as soon as possible, all traces of true democracy have left the European Union!


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Get me out of here!

The European Union Euro-Zone, to protect their pet project, have committed the people of Cyprus to decades of pain in what is nothing more than legalised theft, all to protect the Euro project which was doomed to failure from its very birth!

It is a fact that the Euro can only survive if the European Union is a country which requires full Fiscal and Political Union, one President, one Prime Minister, one Chancellor of the Exchequer, one Central Bank, one Army etc. and that is not going to happen, they were warned, it was a project doomed to failure from the very start and the problems in Cyprus, Italy, Greece, Portugal, Ireland and Spain are as much the fault of Germany, France and the Netherlands as it is the individual countries.

Not only did the Euro-Zone countries establish the Euro in a way that was always going to fail but they watered down the rules and fiscal disciplines which were to rule the Euro-Zone to allow in countries such as Greece and Cyprus who should never have gone near the Euro Currency and with the essential disciplines watered down total failure is only around the corner because what they have created can only survive in boom times.

What the Euro-Zone has also done is undermined the integrity of and confidence in the Euro-Zone banking system, Euro-Zone ministers have already said that the Cyprus bailout will be a blueprint for future bailouts so if you have money in either an Italian, Spanish, Greek, Portuguese or Irish Bank think carefully about whether your deposits are safe because this action by the European Union Euro-Zone in Cyprus is really a very big nail in the coffin of democracy in the European Union!

Remember, the whole of the European Parliament is elected by an undemocratic proportional representation list system, already 60% of our laws are enacted without seeing parliament as they come from Brussels and are nodded through by civil servants and the European Union treats national parliaments and national votes with contempt.

If the European Union action in Cyprus has done nothing else it has removed any vestige of an argument for the UK to stay in the European Union and the UK electorate must not miss the chance, when it comes around in a referendum, to voted in undisputed terms to leave the European Union, my worry is that we have so long to wait! 

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Further reading 

Stricter Rules but Signs of Disarray in Cyprus Deal – New York Times

New York TimesStricter Rules but Signs of Disarray in Cyprus DealNew York TimesPARIS — The Cyprus deal announced Sunday, another late-night showdown in Brussels that looked like a shambles, laid down some important new markers for the future of the E …




Cyprus banks remain closed to avert run on deposits – Reuters

National PostCyprus banks remain closed to avert run on depositsReutersNICOSIA (Reuters) – The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thu …




The Cyprus Bailout Does the Unthinkable, Vaporizes Bank Deposits – U.S. News & World Report (blog)

U.S. News & World Report (blog)The Cyprus Bailout Does the Unthinkable, Vaporizes Bank DepositsU.S. News & World Report (blog)European leaders have stayed true to form by nearly forcing Cyprus out of the eurozone, then negotiating a last-second deal …




Cyprus Bailout: Winners and Losers – The Atlantic Bailout: Winners and LosersThe AtlanticCyprus has finally reached a deal with euro zone policymakers and the IMF. But although this solution will stop Cyprus from defaulting, printing a new currency, and leaving the euro, there …




Cyprus Bailout: Everything You Need To Know Before The Opening Bell – Forbes

Cyprus Bailout: Everything You Need To Know Before The Opening BellForbesTo secure a 10 billion euro ($13 billion) bailout, international lenders wanted Cyprus to cough up billions of euros itself to help finance the package. So, the Popular Bank of …


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