Cyprus Mail
Letters

Our MP’s will never learn

This article should be printed in a large typeface and pasted on the office wall of every MP and would-be politician. The banks could distribute copies to every defaulter to show that it is they who are helping to ruin Cyprus’ economy.

B


People were willing depositors in these high-risk institutions because of ridiculously high interest rates that no other bank in Europe could match. That should have rung alarm bells, but instead people just piled-up their deposits, leaving themselves massively exposed when the banks ran out of steam.

It’s easy to be critical in hindsight, but what was the alternative? Let the banks crash, and lose ALL their depositor’s money?

COM


Cyprus’ MPs are recklessly irresponsible

Related posts

Our View: Unflattering report of president’s ties to Russian money cannot be ignored

CM: Our View

Our View: The farce of politicians’ asset statements must stop

CM: Our View

Impressions, assumptions, drunks and queues

CM Guest Columnist

Our View: HIO move will only serve to encourage abuse of Gesy

CM: Our View

Korea and Japan: the festering wound of history

Gwynne Dyer

Our View: Guterres wants to see real progress, not just provide a photo opportunity

CM: Our View