The Cyprus precedent ... Given that this policy was not merely rubber-stamped but engineered by Eurozone finance ministers and the IMF (indeed, the IMF wanted an even deeper cut of deposits), it sends a disquieting message to anyone with deposits in a euro area bank. Although the ministers were quick to insist that this is a one-off and is "exceptional", anyone even vaguely acquainted with the initial Greek bail-outs will remember precisely how long such exceptions last.
The only conclusion we can come to, watching events unfold not just in Cyprus but in Greece, Spain and Italy, as well, is that these moves are, in fact, being made to engender a kind of ... chaos.
When one examines the increasingly provocative actions and machinations of those "leaders" revolving around the orbit of the EU, the conclusion that the crisis is being exacerbated on purpose becomes an increasingly logical option.
Our conclusion, as mentioned above, is ... cynical. As we watch the unfolding disaster of the European "community" we return to statements made by top EU leaders in the past that it will take a considerable crisis to create the longed-for deeper union.
Canada Free Press comes to similar conclusions:
All Roads Lead To Cyprus
Now Cyprus has wound up in the middle of the European Union’s meltdown as everyone scrambles to salvage what they can from an unsustainable system at the expense of everyone else. It’s easy to look at what almost happened as another case of powerful elites abusing ordinary pensioners, but it’s a good deal more complicated than that.
What we are actually seeing are the beginnings of bailout cannibalism as the Eurocrats manipulate entire nations into fighting each other while scrambling to gain some political advantage out of the mess.
Cyprus’ government tried to salvage its banking sector by passing on the pain to ordinary depositors in one of those brutally unfair short-term/long-term decisions that technocrats like so long as they have the early warning to opt out of them. While were closed to ordinary people, there’s little doubt that plenty of insiders took the time to get their money out and it will be interesting to find out who they were.
But that largely doesn’t matter. Bigger systems are bound to more corrupt and every regulation has its loopholes and exploiters. Everyone is badly overextended and betting on up once the rubble begins to fall.
Everyone is deep in debt and no one is going to pay up. And why should they? Southern Europe may have dug itself into a hole, but the Eurocrats ordering them to dig out were the ones who provided the shovel because it seemed like a good idea at the time. Debt was a profitable and useful political tool. It still is.
...at some point the government-media complex of social welfare and crony capitalism will go up against an angry populist with an agenda and an organized movement, from the right or the left, and then things will get properly ugly. That man isn’t on the scene yet, but he’s probably hanging around meetings somewhere and imagining what he will do if he ever gets the chance. And if he ever gets the chance, it won’t be pretty.
By reading about the deep divisions within the EU (in the financial situation, we see the divide between the southern part of the EU and the northern part, but the divisions within the EU go far beyond this financial situation), you can't help but to consider Daniel 2:41-43 - which is a description of the revived Roman Empire in the last days:
"Just as you saw that the feet and toes were partly of baked clay and partly of iron, so this will be a divided kingdom; yet it will have some of the strength of of iron in it, even as you saw iron mixed with clay. As the toes were partly iron and partly clay, so this kingdom will be partly strong and partly brittle. And just as you saw the iron mixed with baked clay, so the people will be a mixture and will not remain united any more than iron mixes with clay."