Ironically, the activation button for the transformation process has been pressed by the System Administrators, not by the Subordinates.
It was probably not easy for the Troika (EC, IMF, ECB) to find appetizing items of so-call 'structural adjustments' in Cyprus, a small island country whose population is around one million. Otherwise, they would not have drawn out the idea of "Deposit Tax," which I believe will surely accelerate the transformation process in the current Global Monetary System.
It was probably not easy for the Troika (EC, IMF, ECB) to find appetizing items of so-call 'structural adjustments' in Cyprus, a small island country whose population is around one million. Otherwise, they would not have drawn out the idea of "Deposit Tax," which I believe will surely accelerate the transformation process in the current Global Monetary System.
Nick Malkoutzis, a deputy editor of Kathimerini English Edition, points out in his recent article, Cyprus: It's not about the numbers, that "the idea of a deposit tax and the way it was adopted has released something poisonous in the air."
"Even if capital flight from Cyprus as a result of this decision is less severe than many fear, even if Cypriot banks survive this real stress test, even if the island’s economy is not set back many years, even if savers in Greece, Spain, Portugal and Italy don’t panic, the idea of a deposit tax and the way it was adopted has released something poisonous in the air. It is difficult to see how these citizens will be able to trust the system - be it their governments, banks or eurozone partners - in the weeks to come. Belief in countries where the economy is contracting and unemployment growing is already vitreous and planting fears about a possible deposits grab in the future could shatter it completely.
Some will argue that the numbers involved in Cyprus are not that big, that small depositors will not lose a lot. This misses the point. Again, it’s not about the numbers, it’s about perceptions. Cypriot savers will not be so concerned about losing a few hundred euros here or there. After all, they know what’s going on in Greece and are aware that if they don’t pay a deposit levy, they’ll pay through higher taxes, lower wages and reduced spending."
What Nick Malkoutzis sees as "something poisonous in the air" are none other than "imaginal discs" at the heart of metamorphosis of caterpillar into a butterfly?
I hope so!!!
I hope so!!!
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