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Its a relative arbitrary amount that moves with time. That said, by the standards of most those with over 1M in cash in the bank would be considered wealthy. You have no objectivity in reporting the facts. When the dust settles Cypriot banks will be a fraction of their former size. Start with why were you trying to manipulate Greek posters here by swapping handles?

Why do one day support Syriza and next friendly with XA supporters? And why have you repeatedly endorsed terrorism against a democratically elected government? Absolutely disgusting what the europeans did to Cyprus… No respect.. The eurpeans are strangling the Greece and Cyprus with harsh terms so in the future any potential gas reserves are taken by the europeans for absolutely nothing.. Great partners…. What do you expect when both were continuously governned byfinancial morons over the years since the demise of the fascist junta and Cypriot invasion in 74!

The EU Commission is run by gangsters with no moral conscience. Previously you tried to manipulatively pretend you were right wing then go on to support illegal immigration into Greece? You suggest Turkey should attack Greece? You are just one more troll manipulatively pretending to be Greek. It is anti-Greek ultra nationalsit manipulators like you that are fascist. Are you smoking crack between your rants? You are waste of space and a liar.

So during the 8 months that Castrofias f…. Why do think he delayed, remember he is a communist, so best help his comrades!! Good theory, but as the diasporic fascists here would have it, they prefer that they are squeaky clean of anything, just like their ancestors in the fascist junta and their ultra pusti-fascist metaxas! It will be a good day when the domestic goldendawn fascist pigs get roasted in syntagma by some hungry Albanian Greek citizens and we can sit back and hear their squealing cries in the background of Papazoglou!

And as for you diasporic fascist pigs, we can let your hosts in your multicultural societies provide for you poor starving parasitic immigrants!

Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed. Equally, a transaction tax may not reduce business volumes. Adair Turner, the chairman of the Financial Services Authority, shot that fox in summer when he branded some City activities as "socially useless". The big hurdle for a transaction tax is, and always has been, the need to get universal backing.

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That's shorthand for winning the Americans over. Tim Geithner, the US treasury secretary, was sniffy about Brown's idea at the weekend, but Downing Street is encouraged by the Obama administration's willingness to cooperate internationally in a clampdown on tax havens. The political argument in favour of reform is strong. Firstly, policymakers want to put in place measures to reduce the risks of future financial crises.


Secondly, financial institutions provide an easy source of revenue at a time when governments are counting every penny. A study by the Austrian government showed that a 0. That would wipe out the structural part of the UK's budget deficit at a stroke, avoiding the need for painful and unpopular spending cuts. Brown, though, wants only half the proceeds from a transaction tax spent at home. He would like to see governments from developed nations allocate the other half to financing development and helping poor countries cope with global warming.

Fixing Our Crumbling Financial System

That's a good strategy, since it would both assuage public anger at the banks and ensure that a global tax was used to do global good. Poor countries did not cause the crisis yet have been badly hurt by it. They need money to develop low-carbon growth strategies. Without a willingness by the west to bankroll greener economic strategies in the developing world there will be no climate change deal.

The portents are bad for next month's climate change summit in Copenhagen. Indeed, the negotiations are starting to echo the global trade liberalisation talks, which began in Doha eight years ago this week and are still going nowhere. Rich countries have found that the bigger developing nations are no longer prepared to be pushed around. In all previous rounds, the European Union and the United States have imposed a private deal on the rest of the WTO membership: the big change during the Doha talks has been the no-nonsense approach of Brazil, India and China.

They have refused to roll over in the face of bullying tactics from Brussels and Washington, demanding that the developed world provide compensation to poor countries for the biased outcomes of previous rounds. The stakes are much higher in Copenhagen. If the scientists are right, then the international community cannot afford a decade of delay in concluding a deal on climate change.

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