Watch the video here:
– ‘This isn’t going to stop with Cyprus’ (RT, March 28, 2013):
The Cyprus liquidity crisis will only lead to violence, Wide Awake News founder Charlie McGrath has told RT. The journalist warns that the Cyprus solution may serve as a model as the wider EU deals with the financial crisis.
RT: The authorities have promised to reopen the banks on Thursday – do you think Cypriots can sigh with relief now?
Charlie McGrath: No, not at all. And let’s examine the word reopen, because they are not really reopening. They are putting on all these capital restrictions on the people of Cyprus, 300 euros is the max withdrawal they can make. They can only take 3,000 maximum amount if you are going to travel. You live in Cyprus and you have relatives that live in the United States and the UK, wherever and you want to send them money – you absolutely cannot.
The so-called establishment media is talking about, there’s been enough time that has passed since the announcement of this deal that they don’t think there’re going to have a bank run but the real reason they don’t think they’re not going to have a bank run is because they are really not opening the banks. They’re going to have all type of guards and police and very limited funds that the people of Cyprus can take. So, I don’t think they should be relieved at all, nor should Europe nor the rest of the world for that manner.
RT: At this point – how do you convince panicked savers across Europe that the EU won’t dig into their accounts, next? Continue reading »
Tags: Banking, Capital Controls, Cyprus, Economy, ESM, EU, Europe, Global News, Government, Jeroen Dijsselbloem, Politics, Society