Cyprus, the First official Financial dictatorship within the EU

 

Maybe you’ve missed it but the Cypriot parliament passed a law forced on them by the troika and the EU group expelling themselves from the democratic process. Parliament having the nerve to vote out the bailout previously infuriated the unchosen technocrats. Surely a parliament chosen by the people getting in their way was not to be repeated.

 

The new law provides for parliament to be surpassed in the restructuring of banks as long as the guaranteed deposits are not involved. It also provides for an unlimited mandate given to the minister of finance and the boss of the central bank to take any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety.

European German finance minister of finance Schaeuble was quick to abuse the new law by stating the parliament’s vote is not needed anymore.

 

The first official financial dictatorship within the EU is a fact. Any democrat in parliaments of other EU countries who do get to vote surely would have to reject this bailout for democratic reasons alone. To flush democracy down the toilet to save a totally bankrupt financial system should lead to outrage. Don’t get your hopes up, democracy in the EU is dead.