© Clemens Bilan/dapd
German finance minister Wolfgang Schaeuble fired a warning shot over Cyprus' economic status
German finance minister Wolfgang Schaeuble fired a warning shot over Cyprus' economic status
Banks in Cyprus have been shut since Saturday to avoid a run while the tiny Mediterranean country tries to negotiate a rescue for its economy.
Wolfgang Schaeuble said two of Cyprus's big banks are being propped up solely by emergency liquidity from the European Central Bank that is contingent on all sides agreeing on a rescue package.
"Someone needs to explain this to the Cypriots," Mr Schaeuble told German public television ZDF.
Politicians in Cyprus have voted to reject a bailout deal that would have seized up to 10% of bank deposits to prevent a collapse of the country's banks.
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He is obviously 'out of the loop' and therefore makes a nice puppet for the people on the street to use when burning an effigy for media consumption, but he does seem to be representative of the mainstream German politico mindset, which is a problem if they are aware of the game being played and their role in this farce, but a bigger problem if they are not, for either way, their characters are usually sacrificed before the curtain drops in the final act.
But then ignorance is bliss, is it not? For predator and prey alike.