– Cypriot Youth Rise Up In Pictures: “They Just Got Rid Of All Our Dreams” (ZeroHedge, March 26, 2013):
There is a reason we think of youth unemployment as the ‘scariest’ thing in Europe as we have discussed here and here. After a few months of relative calm, it appears the youth are once again finding their hopes dashed and are protesting. As Reuters reports, thousands of students and bank workers protested in the Cypriot capital Nicosia today. “They’ve just gotten rid of all our dreams, everything we’ve worked for, everything we’ve achieved up until now, what our parents have achieved,” is how one young protester exclaimed his feelings, as a bank worker added, “we are scared.” It appears President Anastasiades comment that, “the agreement we reached is difficult but, under the circumstances, the best that we could achieve,” is not reassuring an increasingly volatile people.
I think people will stop banking with these crooks. They have gone too far, and this is actually something the people can do something about. They can move to cash and carry, and they will. This will set the world GDP back on it’s heels, very foolish indeed! The banks must really be in trouble to make such insane moves. World GDP averages $50-65 trillion per year. With the bank fallout, it will drop to half, or less. This is an unmitigated disaster caused by greed and folly.