Russia is all about oil and natural gas. They have Europe by the balls as a major supplier of natural gas through pipelines, Europe would be in a MASSIVE hurt if Russia stops the flow of gas.
Cyprus has discovered a while back a natural gas find in nearby deep ocean worth several tens of
billion of dollars. It hasn't been exploited yet.
Funny how Europe needs gas badly, and they are strong arming Cypress to
1) Rob their citizens
2) Privatize national resources (desalination, water systems, hmmm natural gas resources)
3) Increase corporate tax rates by 5 times what they are now.
This blatant grab by the EU may end up as a beneficial thing to open the eyes of the sheeple that the powers that be have NO SHAME. But probably not. I just spoke with a guy who follows politics, economics, investing, as a 2 career Fed worker. Asked him about Cyprus, and he said just barely heard about it yesterday but the stock market didn't tank so it's probably not a big thing.
Bankers/Brokers of all sorts think that "Assets under management" are their assets, seriously.
Same with governments, the sum total of accounts is tallied into "National Wealth" and they believe it is national wealth, not yours.
After all, you didn't build that, someone else built that for you. And that someone else deserves your assets, because that's the socialist way.