My Sunday was quiet and uneventful. An item in this morning’s news disturbing.
The big thing yesterday were the March Madness seedings. Syracuse is a #4 seed. I thought it would be. Hoped for a #3. Four however is good enough.
I woke this morning to the news that the euro bank was planning on levying/taxing Cyprus bank accounts. Savings accounts. What shit!
The Cyprus legislature has to approve the plan today. If not approved, it’s bankruptcy for Cyprus.
The worst thing European nations did was enter into the euro more than a decade ago. Greed motivated each country. The Germans were smarter than everyone else. Most other nations, such as Cyprus, are getting beat up.
Can you imagine waking up one morning to the news that your savings account was having 6-12 per cent taken out to pay back in effect monies owed Germany?
The run on Cyprus banks has begun. Too late, however. The ATM machines are empty and the banks are withholding withdrawals till things get figured out.
I felt a similar panic when I was on Greece’s Santorini island last summer. The euro problem was all the people were talking about. The Greek people. That and they hated Germany’s Merkel. It was rumored that all Santorini banking was going to close down.
Santorini is a large island. Tremendously larger than Key West. Only two ATM machines on the island.
When I heard the news, I thought I should replenish my euro cash supply. Not everyone in Greece took credit cards. Euros were needed. I walked the mile to the ATM machine near me. It was out of money.
The only other ATM machine was located on the other side of the island. A two bus trip each way. Fortunately, that ATM had money in it.
The crisis swiftly ended. Twenty four hours later, there was cash in the ATM near me.
Merkel is being blamed for Cyprus’ present crisis.
When something like this occurs, a madness sweeps in. A collective madness. Germany keeps pushing the envelope. I said it last summer and I say it again. The next war may start in Europe rather than the Middle East. If it does, it will be because of the euro and Germany pushing its neighbors for repayment.
I felt under the weather yesterday. My stomach was off. Other than a stop at the Plantation Coffee House, I spent the day home lounging around.
I feel fine this morning.
Enjoy your day!