Monday, March 18, 2013

Cyprus - A real mess

Can someone explain me how they will do the deposits levy if you have a loan ?

Scenario 1 - You were granted a loan of 200,000 Eur a week ago for starting a new company. You are investing now primarily in people wages. Now, because of some really bad and stupid decisions from the ECB, you find yourself only with 180,000 Eur. Question: Will you still owe 200,000 or just 180,000 ?

Scenario 2 - You do nothing. You didn't apply for a loan. You have 0  Eur in your accounts. Thus you are now 20,000 richer than guy in scenario 1. Hence, doing nothing is better than doing something. The socialist politicians in Europe at their best. Do nothing and reap off the guys that actually work - that's the message our European politicians are delivering.

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