Cyprus – the latest country to experience EU financial austerity measures
While we may be living in the early years of the twenty-first century, to an outsider visiting our planet, you could forgive them for thinking that nothing has really changed for humanity.
Countless millions are out of work. Disease is rife, civil unrest is on the rise. Wars and hunger kills millions daily. But despite all this, the financially greedy and power hungry still remain in charge. Our world was plunged into chaos by greedy investment bankers in 2008. How many were prosecuted? Instead of punishing them, the various governments of the world punish their own citizens with crippling austerity cuts.
We hear that by the end of this century the world’s population will exceed 15 billion. As I write, it is inexorably approaching 7 billion.
The great experiment that is the European Union and its single currency, the Euro, is failing dismally. Financial ministers across Europe voted to increase the amount of money set up in a contingency bail-out fund. They also called for all banks to write off fifty per cent of debt owed them by those countries fast becoming insolvent like Greece, Italy, Spain and Portugal. All this was designed to assist those country’s within the EU that cannot settle their national debt. Has it worked? No! Despite this financial sticking plaster, nothing will really change for the ordinary man or woman on the street, except more financial misery. What will the bank’s response be? Simple – they will merely pass on that debt to their ordinary customers like you and I, who don’t count in their eyes, except as cash cows to be milked till we bleed.
According to the BBC news today, the latest country to bring in emergency financial measures is Cyprus. They are going to levy every bank account by approximately ten percent as part of an EU directive to help the fast failing economy. In fact they have already frozen all bank accounts to stop depositors from withdrawing their money before the levy occurs. Beside the locals there are thousands of expats who moved to Cyprus to live out the rest of their lives somewhere warm and sunny, reliant on their pension being paid into their bank accounts from their respective home countries. Yet again the common man is being punished for something he did not do!
How much longer will it be before we all finally cease to tolerate the way the rich and power hungry totally ignore the wishes of the general population? What will it take to bring sanity and wellbeing back I wonder, another world war perhaps? Don’t forget that because of poverty, mass unemployment and austerity measures, fascism rose in Germany and Italy during the 1930’s.
Nothing really changes for mankind does it, only time itself. We are only half a step away from reverting back to the life of our ancestors, one or two hundred years in the past, where the rich grew richer while the vast majority starved.
Oh no wait a minute, thinking about it, we’re already there.