Daily Mail mocked for selling readers dream life in Cyprus
The Mail is selling the dream of European life it helped eliminate, to readers trapped in the post-Brexit reality it championed.
The Mail is selling the dream of European life it helped eliminate, to readers trapped in the post-Brexit reality it championed.
The Mail is selling the dream of European life it helped eliminate, to readers trapped in the post-Brexit reality it championed.
We know the drill now. A eurozone member finds itself in dire financial straits. A cabal of finance ministers, European officials, domestic technocrats and global financiers pushes the stricken national government towards severe public spending cuts and tax rises. The social unrest caused by these policies bleeds into some form of populism, be it left-orientated (Syriza in Greece; 15M in Spain), right-orientated (Golden Dawn in Greece) or somewhere in the fuzzy middle (Beppe Grillo in Italy).
Cyprus is moving into unknown territory today, if not wholly by choice. The deal now agreed to close Laiki Bank and massively restructure the Bank of Cyprus will mean substantial losses for depositors with more then €100,000 in their accounts, but that’s just the beginning of the tale.
George Osborne has been humiliatingly been accused of talking "sheer nonsense" by U.S. business and technology news website Business Insider, after Osborne cited the crisis in the Cypriot banking system as an example of why Britain must continue the "painstaking work" of austerity.