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Thom's blog
Could a tax on Cypress bank deposits bring down E.U. banks?
When you think European financial crisis, you think Greece, or Spain, or Italy. But economic trouble in the small island nation of Cypress is causing a serious panic throughout Europe. Because of Cypress banks' exposure to the financial troubles in neighboring Greece, the island nation's banks need a bailout.
In exchange for the $13 billion dollar bailout, representatives from the European Central Bank and IMF, along with finance ministers from European countries, have proposed a radical plan to impose a one-time tax on bank depositors. The plan calls for a 6.75% tax on all bank deposits up to 100,000 euros, and a 9.9% tax on deposits over that amount.
As residents learned of the proposal, people rushed to banks and ATMs to withdraw their savings to avoid the tax. The policy is causing panic in Cypress, and that government has halted electronic bank transfers through Tuesday, in an effort to prevent a run on banks throughout that nation.
Residents in other European nations are watching closely to see if similar plans are proposed for their countries. If leaders are not careful, this policy could bring down the banking system in Cypress, and possibly throughout all of Europe. Let's hope they make the right decisions, and stop this financial disaster before it's too late. Stay tuned.
-Thom
(What do you think? Tell us here.) |
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Tonight on The Big Picture on RT TV at 7pm and 9pm... Could tiny Cyprus take down Europe's economy? (check your local listings for stations or stream at RT, and catch past shows on Youtube)
Need to Know: Could tiny Cyprus take down Europe's economy?- Richard Eskow, Campaign for America's Future 
The Best of the Rest...
Did the GOP show its true colors at CPAC?- Matt Heimbach, White Students Union at Towson University
Daily Take: GOP uses science to find white bigots...how climate change?
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Friday's Daily Stack 
Live from radio row at CPAC 2013 at the Gaylord National Resort & Convention Center, 201 Waterfront Street, National Harbor, MD 20745
Hour One: If it's Friday, it's "Brunch With Bernie"... the honorable Senator Bernie Sanders (I-VT) joins Thom with all the news from our nation's capitol and as always he'll be spending the hour taking your calls and answering your questions too... Follow Bernie:    campaign site.
Anything Goes on Townhall Friday!
Hour Two: Citizens United...money in elections- Bradley A. Smith, Center for Competitive Politics
Mayor Bloomberg's Styrofoam Ban Proposal Belongs in the Recycling Bin- Jeff Stier, National Center for Public Policy Research
Republicans want a return to Coolidge governance- Amity Shlaes, Four Percent Project, George W. Bush Institute / Author of the new book "Coolidge"
Conservative opposition to the transpacific partnership and fast track- Curtis Ellis, American Jobs Alliance
Hour Three: immigration issues...- Mario Lopez, Hispanic Leadership Fund
Why shouldn't the Government be the employer of last resort?- David Webb, Host-The David Webb Show on Sirius/XM Patriot ch.: 125 Mon-Fri 9pm-12am
In for Thom for the last half hour- Richard Fowler, host of the Richard Fowler Show on WE ACT Radio
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Monday on The Thom Hartmann Program, 3-6pm ET
Hour One: Phoenix...in the cross hairs of climate change- William DeBuys, "A Great Aridness: Climate Change and the Future of the American Southwest".
Hour Two: Supreme Court hearing on voting rights- Wendy Weiser, Brennan Center for Justice
Plus, latest on the effort to recall Sheriff Joe Arpaio- Randy Parraz, Citizens for a Better Arizona
Hour Three: Cyprus...on the verge of economic meltdown?- Lynn Parramore, Alternet
And, the best of the rest of the news and your calls right here on...
The Thom Hartmann Program...your media support group for "we the people"...
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Tuesday on The Thom Hartmann Program, 3-6pm ET
The latest on the sequester and the battle of the budgets - Tim Carpenter, Progressive Democrats of America...
Plus, the best of the rest of the news along with your calls right here on...
The Thom Hartmann Program...your media support group for "we the people"...
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Thom's Poll
Will the GOP renounce the racism at CPAC?
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Watch & Listen to Thom
Conversations w/Great Minds - Prof. Steve Keen - What Capitalism Must Have to Survive P1
Conversations w/Great Minds - Prof. Steve Keen - The New Modern Jubilee P2
Ted Cruz...too busy playing with his "gun" to pay attention in 6th grade
Big Picture Rumble - Conservatives want the Poor Dumpster Diving
Big Picture Rumble - What's the Definition of a Bigot?
Or watch the Full "Big Picture" Show...
Full Show 3/15/13: Dianne Feinstein Takes Down Ted Cruz
Tonight's "Big Picture Rumble" panel discusses Senator Portman's reversal on gay marriage, Paul Ryan's budget and why cable news is paying no attention to the sequester cuts that are/will actually hurt Americans. In tonight's "Conversations with Great Minds" Thom talks with economist and author Steve Keen about the state of the U.S. economy and what actually needs to be done to get it moving again.
Thom Hartmann on The News: March 15, 2013
A Friendly Voice Joins Thom At CPAC
Hispanic Immigrants Come to US Fleeing Liberalism?
Republicans Want a Return to Coolidge Governance
Even Conservatives Oppose TPP and Fast track!
Citizens United: Money in Elections
Why Shouldn't the Government be the Employer of Last Resort?
Brunch with Bernie - March 15, 2013
Supersize Sodas and Styrofoam: Bloomberg is Out of Control!
Peter Ferrara: Government the Employer of Last Resort?
Thom, Did You Turn Him Into a Liberal?
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 Would you like to help give a child with a very troubled background this feeling of peace? Thom and Louise Hartmann founded the New England Salem Children's Village (NESCV) in New Hampshire in 1979. With states delaying payment for the children they entrust to the village, they need help with cash flow. Can you help? Now on Facebook. |
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