The clock is ticking to get your money out of the Euro-zone

The dust is slowing settling on the dramatic events that led to the Cyprus economic crisis earlier this year in spring. Subsequently, we consider it a poignant moment to remind the all PT's that the clock is ticking to get your money and assets out of the EU.

What happened in Cyprus?

In essence, 2 formally arrogant Cypriot banks in collusion with the Cyprus Government committed what is best described as a bank robbery in broad daylight earlier this year. Moreover, the EU feels that its got away with it! Many Cypriots and foreigners alike trusted the banks and the Cyprus Government with their hard earned money as it was an EU country and in many cases it amounted to peoples entire life savings.

Yet few of the powers that be on the island of Cyprus or across the continent did anything significant to protect the rights of people. Cypriot politicians simply made agreements with the Troika and IMF regardless and in some cases, a few families in the know transferred millions before the banks were closed. The President who signed for the original shameful haircut blamed the Finance Minister and still holds power.

In balance, the Government of Cyprus was basically given 2 options by the IMF and the EU

1. Confiscate money from private bank accounts in breach of the European Court of Human Rights.
2. Leave the eurozone and face political instability.

Seemingly, the so called proposal was presented as a "take it or leave it" proposition, and many objective observers are using the word "blackmail" to describe what happened.

Only Nigel Farage (captioned in the video above) had the courage and common sense to speak for the people of the EU on the right platform.

The Cyprus Beta Test
Unfortunately, the Cyprus case has set an ominous precedent for the future in the EU and it will likely generate ripple effects far beyond the small Island nation of Cyprus.

The EU appear eager to gauge if the rest of the world will let them get away with it. Cyprus was most likely selected as a "Crash Test Nation" because it's very small (least potential for a strong reaction) and because there is a lot of foreign (such as Russian) money is deposited there. The IMF and the Troika could have very easily bailed out Cyprus without issue, but they coldly calculated not to do that. Instead, the goal was to test the notion of a "Wealth Tax".

Now that the precedent has been set with money taken from bank accounts in Cyprus, plans are afoot to start doing it everywhere. The EU are reasonably pleased with the success of this modern day "Bank Robbery", hence it's only be a matter of time before depositors in other EU nations such as Greece, Italy, Spain and Portugal will be expected to loser their fortunes.

Cyprus is a very small nation, so the volume of money involved is not too significant. However, the reason why this whole affair is all so concerning is that the "Wealth Tax" experiment part 2 will likely shatter confidence in the European banking system overall.

So as eloquently as Nigel Farage articulates what will happen to the EU, we remind all PT's across the EU to take action now before it's too late. Get out of the Euro now!

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Written by Progress

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