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View Diary: BREAKING: Cyprus Might Take 25% of Savings Now (197 comments)

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  •  This plan does seem to be heavily dependent (4+ / 0-)
    Recommended by:
    nchristine, BlueDragon, OldSoldier99, Chi

    on the 99% in Europe being total sheep.

    •  Not really. (10+ / 0-)

      As a BBC editor put it, "this is brutal power politics." You will still enter even a terrible deal if all the other choices are worse, after all...

      Of course, such politics may cause unpredictable and unpleasant backlashes. But if there's one thing I have learnt during these past five years it is that our policymakers are definitely not the most intelligent and discerning people you could hope to meet. Add in prejudices and a not-so-enlightened self-interest and you get, well, this mess.

      Iuris praecepta sunt haec: Honeste vivere, alterum non laedere, suum cuique tribuere. - Ulpian, Digestae 1, 3

      by Dauphin on Sat Mar 23, 2013 at 08:36:02 AM PDT

      [ Parent ]

      •  Current Policy Makers, Especially The Financiers (3+ / 0-)

        seem to think they and the scam system they've gerry-rigged are invulnerable.

        •  You know, they have a point. (4+ / 0-)
          Recommended by:
          BlueDragon, jabney, majcmb1, cynndara

          Leaving the euro is not at all like devaluing your currency. The consequences would most likely be so severe, and the resulting depression so deep, that in economic terms practically any deal which avoids that is better. This puts the nations in crisis in a really disadvantageous position, and allows the other parties to dictate virtually any terms they choose.

          Of course, what this approach misses is the emotional component: After enough misery people may prefer to wreck the entire system, either for revenge or to at least free themselves of it for the future. Not strictly rational, but a possibility a prudent policymaker would take into account.

          Iuris praecepta sunt haec: Honeste vivere, alterum non laedere, suum cuique tribuere. - Ulpian, Digestae 1, 3

          by Dauphin on Sat Mar 23, 2013 at 08:52:01 AM PDT

          [ Parent ]

      •  Maybe preppies are the best ppl to put in charge (0+ / 0-)

        My apologies to the enlightened preppies, btw.

        It's difficult to be happy knowing so many suffer. We must unite.

        by War on Error on Sat Mar 23, 2013 at 08:48:03 AM PDT

        [ Parent ]

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