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sub-prime fall-out

Astonishing consequence of fiscal austerity - IMF raids personal bank accounts

Yesterday, in Cyprus, ordinary citizens turned up to take money out of their accounts via EFTPOS and could not access their cash! This has actually happened. Overnight sums of money have been levied directly on every bank account in a country, apparently with the authority of the IMF and the European Union. There is nothing to say now that any bank account in the world is safe from similar action. This is a new bad era. The rules have been smashed.

Centro Properties Group Ex-chairman didn't see 'debt bombshell' coming

How could someone in charge of borrowing billions from banks, to deploy energy and resources for multi-million dollar developments, be so energy and resources naive that they did not see the energy-linked "debt bombshell" coming?

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