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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (220242)	3/22/2013 1:15:57 PM
From: Steve Lokness	Respond to of 542230

<<<< It is my understanding that for the EU, Cyprus itself is not the problem per se (for the EU), it is the fact that they are scarred to death that a bank run in/on Cyprus will trigger ones in Italy and Spain--and then that's a whole different ball game--with global implications.>>>>> Whew! Yes, How do they get those Cypriot banks open again?

To: Bread Upon The Water who wrote (220242)	3/22/2013 4:21:21 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 542230

"I vehemently stand behind the fact that Cyprus has little similarities with Iceland" Here's the biggest difference; Iceland produces energy. Gives them an export product. Iceland’s population is divided over the country’s plans to export geothermal energy to Europe. The island nation has long had excess amounts of inexpensive geothermal energy thanks to its location on one of the earth’s most active seismological regions. The majority comes from the power station at Krafla and Iceland’s state-backed power firm currently only sells about 17 per cent of its output to the country’s industry and residents. The remainder is sold to international companies such as the US-owned aluminium processing giant Alcoa. icenews.is