The Eurozone has imposed a “tax” of 6.5 – 10% on all Cyprus bank accounts to fund yet another dubious bailout to siphon more money to the bankers responsible for the crisis. I believe this is also called a “protection racket.” One irate depositor brought his bulldozer to smash down bank walls.
But it’s not going well for Eurozone bankers. The anger and rage in Cyprus has caused their bank holiday, a polite phrase for “shutting banks to prevent runs”, to be extended past Monday until at least Tuesday on fears that the bank panics may extend to other countries. Well done, Eurozone!
So, if the official name of the March 18 holiday was “Green Monday”, will the March 19th ad hoc holiday be called “Red Tuesday”? Inquiring minds want to know.