SHOCK - Now a 40% confiscation of bank accounts

Fascism  -  European governments act as Mafia enforcers to collect on the bad loans made by banks

• Make Cyprus an offer they can't refuse.

The situation in Cyprus is changing minute by minute.  But the thrust of the story does not change.  Law and order, the respect for private property is breaking down.  A corrupt form of National Socialism is showing itself.  The all-powerful State is out to steal everything not nailed down.

The Socialist Europeans, with the Germans and the IMF taking a particularly hard line, demanded the winding up of Cyprus Popular Bank, the country's second biggest, and the restructuring of Bank of Cyprus, the biggest financial institution.

The parties considered new proposals that had emerged over the weekend with European officials speaking of a levy (confiscation of private property) of up to 40% on Bank of Cyprus depositors with accounts holding more than €100,000, plus a further levy of up to 5% on similar deposits in other banks reports the UK Guardian.

"The numbers have not changed. If anything they've got worse," said Wolfgang Schäuble , Germany's finance minister. He said that last week's agreement to raise €5.8bn had to be achieved. This time, however, savers with less than €100,000 would be spared, meaning the burden would fall much more heavily on the wealthy than the 9.9% levy proposed for their accounts last week.


I'm gonna make him an offer he can't refuse
Banksters  -  a Mafia like combo of corporations and government.

Führer Angela Merkel reportedly outraged over Cyprus's behaviour

• Germany's chancellor said Cyprus was 'exhausting the patience of its euro partners' who actually want to run their own country.

German chancellor Angela Merkel reportedly expressed outrage at the behaviour of Cyprus during an extraordinary meeting of the parliamentary faction of her "Conservative" Christian Democrats in the Bundestag.

According to reliable sources present at the meeting, she said Cyprus was "exhausting the patience of its euro partners" and she was particularly incensed that the government had failed to produce a "plan B". She also complained about the lack of communication from Nicosia.

On the streets of Cyprus, she is viewed as a hate figure, blamed for the bank deposit tax plan, even though the idea originally came from Nicosia, and for insisting that Cyprus should raise a third of the country's rescue fund itself. The effect of this at home has merely been to increase Merkel's support.

She knows that voters would never forgive her if she used their taxes to bail out banks that offer an offshore haven for the fortunes of Russian oligarchs. Images of Merkel as an SS guard or donning a Hitler moustache have appeared in Cyprus but one German government official said: "The old Nazi cliches are simply too easy to fall back on when someone's looking for an outlet for their anger".

(guardian - angela-merkel)

(guardian - cyprus)                (Bloomberg)