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Cyprus News | Banking Laws about to be changed?

According to recent Cyprus News, our neighbours in the South are at last getting to grips with reality.  Now you have to wonder how long it will take this side to see the blindingly obvious and change Banking Laws. Banks do not run countries, they are owned and staffed by fellow citizens and like all citizens, if one has to tighten their belt, they all do.

If the new draft law here in the TRNC makes it to the statute books then some of the banks’ less than prudent loans are not going to yield the returns the greedier Banks had been anticipating. There will have to be some new and shall we say ‘creative’ work done on the balance sheets.

Anyone with a modicum of sense would have seen the writing on the wall some time ago, but as they say, better late than never. Or am I being overly optomistic and have they still not seen it? Anticipated profit, is just that, anticipated. The reality on the whole of the island is that banks have allegedly  colluded in a scam of epic proportions, ‘the Property Mortgage Scam,’ and it about to explode in their faces. I would like to say I am sorry, but I am not.

As you sow, so shall you reap – Galatians  6:7 – your deeds, good or bad, will repay you in kind.

Retribution-Karma-Kismet- Usury – words used in all Faiths, all very relevant to what has happened here.

Never give in, never give up.

Source: http://www.cyprus-mail.com/banks/banks-edge-towards-wage-freeze/20111202/

 

 

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