Posts
The European
Institute – Washington, DC
By J. Paul
Horne, Independent International Market Economist, Paris
March 25 2013
The political miscalculation of “Troika”
leaders (of the European Commission EC, the European Central Bank ECB, and the
IMF) has been dramatized by the Cypriot mouse that roared “No” to what amounted
to illegal confiscation of insured savings as the price for bailing out Cyprus.
When the Parliament in Nicosia unanimously rejected last week the bailout
conditions posed by the Troika, it was embarrassingly forced to withdraw these
conditions.
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