Cyprus’s government has again postponed a crucial parliamentary vote on a controversial levy on bank deposits that the cash-strapped country’s creditors have demanded in exchange for a €10 billion ($13 billion Cdn) rescue package. The speaker of parliament said the one-day delay is needed to give the government time to amend an international bailout deal agreed on last week. Politicians had already postponed the vote over the weekend. The uncertainty triggered by the crisis has already sent ripples through global markets early Monday. Police cordoned off the road in front of the parliament amid heightened security to prevent protesters from approaching the building. Many lawmakers have said they would vote down the 6.75 per cent levy on all bank deposits under €100,000 and 9.9 per cent on everything above. President Nicos Anastasiades has warned that rejection would mean Cyprus’ bankruptcy and a possible exit from the euro. But Cypriot officials are trying to reduce the levy for small savers as much as possible with a corresponding rise for deposits of over €100,000.

This is outright theft! The stakes are high for the nation of one million people as fear of a massive run on Cypriot banks — after a national holiday on Monday — no matter which way the voting goes. It marks the first time that the IMF and the 17 eurozone nations have dipped into people’s savings to finance a bailout, a move that analysts worry may roil international markets and jeopardize Europe’s fragile economy. The Power in European is forcing their will amongst the People with the only solution civil unrest amongst the classes. This is the beginning of a New World Order, who are the real dirty rats?.

Reference CBC                      www.donfilippo.ca

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