EUROZONE AT LAST, CHANGES ITS PRINCIPLES !!!

After the eternal discussions concerning the "bail out" of little Cyprus everyone was confused by the few details leaked about the conditions.

Matters became clearer after the new Chief of the EUROGROUPE stated that "if you take risks you must assume the consequences" !!!  Jeroen DIJSSELBLOEM was speaking directly about Banks in particular.

These new principles will be particularly welcomed by Germany and its taxpayers.  Likewise this Blog has always questionned the financial justification of bailing out countries (like Greece in particular) when their past errors of judgement or lack of control needed to be bailed out by German taxpayers and those of other countries like France.

The sole objective and justification has always been to save the face of the EURO !!!  Due to this it was also necessary to save the sacred Banks and the Bonuses of their Directors !!!

Jeroen DIJSSELBLOEM was severely criticised after his explanation.  It was unexpected but necessary and very  creditable.  To stop banks gambling on the movement of shareprices is possible !!!  In future they cannot expect to be bailed out if their gambles make huge losses !!!

However, this future policy is perhaps too late to change the errors of the past and the solutions proposed for Cyprus !!!
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