Cost of Cyprus bailout 'rises to 23bn euros'

[the2real4mafol]

Kasz216 said:

the2real4mafol said:
Here we go again! Another failed bailout! I wish this would stop

I don't see how you can be anti-bailouts considering how much you hate Thatcher.  If the Eurozone didn't bail out cyprus they would be facing measures that would make Thatcher look like Karl Marx.

 

I haven't see any benefits from bailing the banks or any of these countries. A bailout is like a blackhole, it just sucks up the money that could be used to invest in our weak economies. My problem with bailouts, especially EU bailouts is that strings are attached. Stuff like austerity is forced onto the people. Elected governments become puppets of the EU and Germany in particular and a downward cycle begins. Mass unemployment, falling quality of life, breakdown and disillusion of society and it just gets worse and worse. This is because of austerity, a key part of the bailout. If money from bailouts went to something which would help to fix the economy and so that countries like Cyprus don't become dependent on bailouts, I would be for it but i haven't seen the evidence for that yet. I see this only ending in revolution, especially in Greece (fascists)  and possibly Spain (splitting up of regions like Catalonia) and Italy (which can't even form a government now!)  where over 1/4 of the population is unemployed. And such countries end up borrowing so much that they end never paying it back and we know this already. It's depressing but it's like the 30's all over again. Also, as a British citizen i'm not happy to see more money go to a failed state, as i'm sure the French and Germans and others aren't either, when it could help us help ourselves first and then help them help theirselves. We need a responsible capitalist system on all sides to stop boom and bust, austerity and all the other bullshit wrong with Neo-liberal Capitalism.