A word on cyprus.

cyprus. What a daft thing to do in cyprus. Aside from all the laundered money moving through there from UK and US targeted fraud, such as that ongoing by Banners Broker etc. and a large number of other ciminal fraternity... The EU have created a run on the banks in cyprus! What daftness. If you want to collect more tax then you add it to the pay slips and companies of those individuals by local legislation. Errr... okay that's the usual way of doing things but a lot of money arriving in cypriot bank accounts has not really been through a tax system. Ooops. An example of an unusual solution imposed without actuall fixing the underlying issue. Greece? Too early into the EU without eliminating the bulk of the black economy and state corruption and inability to collect tax. Thus EU grants and loans were not invested into capital projects but siphoned off in 'expenses' as per the well known African model.