Now the government is spending over 45% of the GDP - which seems to be diminishing the economy, making bankruptcy inevitable.
The Simple and Predictable Story of Fiscal Bankruptcy in Cyprus
http://www.cato.org/blog/simple-predictable-story-fiscal-bankruptcy-cyprus
It looks like the government refuses to shrink the government (much like the US government) and will run out of fools to lend money to further enlarge government.
Increasing taxes or 'Taking Property' may not work if they have already Taxed to the MAX.
The USA government is spending 42.3% of GDP and growing - we are only months behind Cyprus.
http://www.usdebtclock.org/
@steve - you didn't bother to read or reason. Cyprus! Government Spending, Debt and Government Confiscation of Private Property http://www.freedomworks.org/blog/teda/cyprus-government-spending-debt-and-government-con
Clueless DOT - It's the government that wants to take away peoples property. But it's also the dumb sheep that vote in popular politicians that promise the government to provide everything and spend far more than they take in - like the sheeple in the USA.
@Who WAS #1 - Right on - Cypriots will run on their banks no matter what = ? Will that start an international run on banks, portending an international 'crisis' ? ? Remembering the banks are tied together internationally. Intelligent people should have a cash reserve / silver to weather a few weeks of panic & possible anarchy. Gold is impracticable, being overpriced and very few are capable of trading in gold.
Also Russia and Iran are trade partners and using Syria as a proxy war against the USA. Russian weapons and a few training agents - Iran supplying thousands of Iranian special forces & weapons driving through Iraq with immunity = thanks to Obama.
