Suddenly the EUROZONE has a crisis on its hands, just because it cannot decide to rescue tiny CYPRUS from its financial Crisis with about 15/20 Billion euros of loans !!!
More than 200 Billion euros were quickly found to bail out Greece. Other countries were also bailed out. The accounts provided by Greece to join the Eurozone were subsequently found to be flawed, inaccurate !!!
Yet now, suddenly, Cyprus has been refused help. The problem is simple. Either Cyprus gets reasonable help or it will be obliged to leave the EUROZONE. If the EUROZONE conditions are too stringent one cannot expect Cyprus to accept them !!! Abandoning the EURO would be a more favourable solution for Cypriot voters.
What seems to weigh heavily with German supporters of the EUROZONE and its ultimate aims, is that Germany has a General Election in October 2013. Will Angela Merkel still be the Chancellor afterwards, or not ?
Or will Germans signify that they feel they have already paid enough for this costly EUROZONE ideal ? Is the Golden Rule of 3% appropriate in the current financial world depression ?
Up until now other countries have been bailed out !!! Is it little Cyprus who must teach the EUROZONE the reality of what indepence means ?
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