GERMANY CALLING

                                                             GERMANY CALLING

The full title of this comment should be "Germany Calling The Shots".   I see they have now come to an arrangement over the Cyprus financial situation which means that the poor people will not be losing all of their savings.   Did the powers that be at the European Central Bank and those in the political corridors not understand for a moment that there would be repercussions from the general public when confronted with their savings being taxed, irrespective of the percentage to be levied?    The fact that they obviously didn't expect resistance and thought  the Cypriot people would  just roll over and hand over their money is incredible and shows just how out of touch with the general public those who live in Euro towers tend to be.   It does not bode well when a bank spokesman comments  that this could be the model to be used for all other bail-outs.   We have used the term "thin end of wedges" previously in both blog and books but they never stop coming.   Before the Euro zone was inaugurated, countries never became bankrupt.  Somehow they seemed to pay their way.  A European central bank with common currency seems to be an ill thought  concept for political reasons, but reasons that are very conducive to German dominance.   As I said before, it's interesting to note that Germany is now running Europe without setting foot or firing a shot in Poland first.