EU now aiding memberstates in money laundering

[Skybird]

You can read it in the news this hour that Cyprus has successfully made the EU to agree on bailing its banks out. Which is not really a surprise. But it is even more bad news, and on two levels: the EU now formally gets engaged in supporting money laundery.

http://www.spiegel.de/international/...-a-865451.html

The BND officers didn't bring good news. Formally, the island nation sticks to all the rules on combating money laundering laid down by the EU and other international agreements, the agency said. The country had passed the necessary laws and set up the required organizations. But there were problems when it came to implementing those rules, it added. They weren't being applied properly. The Cypriots, the BND said, sign everything, pledge a lot, but keep few of those promises.

Money laundering is facilitated by generous provisions for rich Russians to gain Cypriot citizenship, according to the BND which found that some 80 oligarchs have gained access to the entire EU in this way.

In 2011 alone, some $80 billion flowed out of Russia and much of that money had been channelled though Cyprus, according to the BND. Russians have deposited $26 billion in Cypriot banks, says the BND. That is well above the annual GDP of Cyprus.

The figures show the scale of the problem. The Cypriot government is banking on the Europeans being unable to refuse aid. When the euro finance ministers voiced criticism, their Cypriot counterpart reacted furiously, saying his country would solve its problems without the Europeans if necessary and threatening to leave the single currency.

Gotta love EU. Its getting better and better.

[Skybird]

Meanwhile the EU Central Committee has given a dementi on an agreement already being reached. However, everybody seems to think that it will be just a question of time.

[Herr-Berbunch]

Greeks again.

[Jimbuna]

I doubt there'll be any agreement this time round.

[Skybird]

The Greeks will not be allowed to leave and go bancrupt before German elections in autumn next year. Else the German government would need to explain BEFORE the elections why all their promises to the Germans had been broken and why all the billions of German taxes sunk into Greece are lost.

It's always the same story. Democracy just ruins itself every time, by democratically voting nations into self-imposed bancruptcy. Another reason why I do not defend the concept anymore.

I just have read a nice little book, "Prolokratie", a pamphlet, but a very well-researched and solid based one. It argues the same way: when every Peter and every Paul are allowed to vote and thus influence poltical fates of nations, although they lack information, education and in quiz shows answer with "BMW" when being asked for a German car brand with four letters that starts with "A", they will of course vote for those promise makers who increase debts and ruin finances to bribe such voters by making them tax promises, avoid needed financial harshness before elections, and distributed gifts to get elected.

My next book to read I have borrowed already, "Die Asozialen". About the very rich and the social low class who both parasitically abuse the middle class, grow themselves, suck money and erode the financial health and social integrity of society by numerically reducing the middle class and overburden it with payment obligations. the mechanism are known, but I hope for some well-sorted number material and statistics.

[Jimbuna]

It could well be every country has similar concerns then...not just Germany