Cyprus: Bailout Deal Will Do More Harm than Good

I agree with this post.  I think, many depositors, especially the large ones, will avoid putting their money in the bank because of the experience with Cyprus government.  This is indeed scary.

This has instilled fear into the hearts of saver and investor.

From: LIGNET <newsmax@reply.newsmax.com>
Date: Thu, Mar 28, 2013 at 11:05 PM
Subject: Cyprus: Bailout Deal Will Do More Harm than Good

Cyprus: Bailout Deal Will Do More Harm than Good The apparent resolution of the Cypriot bailout fiasco – which narrowly avoided several undesirable outcomes such as the island nation's euro exit and Russian loans to circumvent EU rules – is the prolongation of an EU-wide sovereign debt crisis that has shown no signs of ending. None of the parties involved are happy about this deal and there are concerns that the financial assistance agreement will lay waste to the huge Cypriot offshore banking sector, dragging the country into a Greek-style depression for years to come. To continue reading this LIGNET special report, upgrade your account status by clicking here. France: Disastrous 75 Percent Tax Hits a Brick Wall French President Francois Hollande's socialist government apparently has never heard of the economist Arthur Laffer, who proved that high tax rates actually reduce tax revenue because they cause economic activity to slow down, which in turn erodes the tax base. Hollande is now proposing a 66 percent tax on high earners to replace the old 75 percent tax, which was declared unconstitutional by France's highest court, but LIGNET believes its effects will still damage the country's beleaguered economy. To continue reading this LIGNET special report, upgrade your account status by clicking here. With Energy Deal, a Russia-China Alliance Looms Large Russia's state-controlled oil company Rosneft [London: ROSN] scored a big victory last week when it sealed a deal to dramatically increase oil sales to China over the coming decade. Russia and China will also soon sign a major natural gas agreement. China benefits by gaining more access to Russia's vast energy reserves and exploration rights in the Arctic, something it has been seeking aggressively for many years. To continue reading this LIGNET special report, upgrade your account status by clicking here. See LIGNET.com Homepage – Go Here Now This e-mail is never sent unsolicited. You have received this LIGNET e-mail because you subscribed to it or someone forwarded it to you. To opt out, see the links below. TO ADVERTISE For information on advertising, please contact Advertising Sales via e-mail. TO SUBSCRIBE If this e-mail has been forwarded to you and you would like to sign up, please click here. Remove your e-mail address from our list or modify your profile. We respect your right to privacy. View our policy. This e-mail was sent by: LIGNET.com 300 New Jersey Avenue NW Suite 900 Washington, DC 20001 Phone: 1-888-766-7542 1510618 E8D5-1