Euro Area

[Husar]

Husar the banks are already lending your money when it's on deposit and even when there is NONE there still lending it on the strength of assets. A million in a back account is not idle however a million in a tin box under the bed most certainly is.

Already said I'm aware of this, but it means you entrust your money to the bank, and if your bank cannot be trusted then you lose your money. Now the government may guarantee some amount but it seems like the government can't be trusted and the fault for this lies with the people, who elected that government. If the people trusted a lie and didn't check back whether all these guarantees actually work out, then it's their own fault for electing the same liars again and again. Now you may say some 48% or whatever didn't elect the liars but that's how the world works. People die every day and it's none of their fault. The alternative is to let the banks go belly up and then 100% of the savings are lost.

The real issue is that nothing was done about the reliance on the banks before they went down the drain and nothing is being done about it now that the problems are obvious. And to say that the government should do something is funny because half of Europe elected conservative, free-market parties that are against government meddling in the private industry.

And @Andres, if you have such a problem with Cypriots surrendering some of their money to get money from Germany and the EU, maybe you want Belgian taxpayers to chip in the amount that the Cypriots would have to pay instead?