Kasz216 on 18 March 2013
| Mr Khan said: No wonder the Socialists are making gains in Cypriot polls. Let the banks fail: protect the people, and to a lesser extent, the businesses. Asset seizures should only be used when someone's actually done something wrong, like back child support payments or tax evasion. |
It's funny too, because in America this form of austerity would be seen as just that.
Socialist.
I'm interested where they got the idea from. It seems to track closest to Keynsianism who saw savings as economic recovery's greatest enemy. Though i can't think of any school of economics that would suggest such a thing.
I understand the thought process. "Fuck Russia, this way we won't have to cut service for our peope and a lot of the bill will be pushed on Russia"
However, I don't know how they couldn't have foreseen the effect this would have. Maybe they did and just felt they had no choice.
Afterall it's 10 BILLLION dollars for a country of 800,000.
