Cyprus needs a break

Cyprus needs a break


For Pete’s sake can’t someone bail out Cyprus? A lousy 10 billion Euro’s is now holding the world at gun-point. Banks in Cyprus have now been closed for 10 days and cash machines have dwindling supplies. Banks shares all over the world are being hit and their managers are nervous

You would have thought that there must even be local Cypriots that have that sort of money in spare cash splashing around their golf buggy. There are over a 109 billionaires that have more than 10 billion. According the Forbes richest, there are also over 250 people that have over 5 billion in their piggy banks. Just think that without our generosity they would not exist.  The world now supports 1426 billionaires. Isn’t it about time we support a few more?

It does seem strange that the Joe Blow people that have given so much wealth to many billionaires are now expected to give away their scant savings in Cyprus. Surely a 10% levy on the world’s rich would be fairer?  In fact, a levy on the world’s billionaires would probably save Spain, Greece, Italy and Cyprus together from bankruptcies.

I am not sure if I am a world’s first with this idea but I reckon if enough of you make similar suggestions we would prevent millions if not billions sinking in dismal poverty with even the chance to queue at a soup-kitchen fairly small.

The 1426 billionaires’ total wealth is estimated to be 5.4 trillion or Now a 10 % levy on that would not make one iota of significant difference to the well-being of those billionaires. They would still be able to support a decent meal, good wine and plenty of golf. Ten % of 5.4 trillion is a modest 540000.000.000. – Or expressed in letters “fifty-four thousand billion. This is a bit more than half a trillion. Now would it not make a lot of sense to urge The World Bank considering that option rather than impose poverty on hundreds of millions of real people. I mean we are only talking of peanuts amongst those billionaires.

I’ll consider putting up a petition to try and make a dent into a world problem that is really small compared with the wealth that is swirling around. Please sign and support my petition and send in onto your twitter and face-book contacts as well.

Thank you,

Gerard Oosterman.

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13 Responses to “Cyprus needs a break”

  1. Lottie Nevin Says:

    Well said Gerard. I fully support your thinking. I have signed and shared. Good luck and let’s hope that something gets done soon!


  2. Andrew Says:

    I’m not sure we need to tax all billionaires. Just the ones we don’t like. There must be a few out there who have made their loot honestly. I don’t see bank shares wobbling too much either. Many went ex-div this week, hence the drop. As a retired non-billionaire member of the banking profession my suggestion based on at least 30 seconds of careful thought would be to get them to issue Cyprus Dirty Oligarch bonds (CDOs) that S&P would rate AAA and be bought by the smartest investment bankers in Greece. They deserve it.


    • gerard oosterman Says:

      Bank shares wobbled a bit here. Do you know any good billionaires? It’s not finished yet. Some are shorting some are not. Still, there is always the chance of taking some nice shots of humanity when taking a long position, its the only way forward…


  3. Andrew Says:

    A case of every oligarch for himself?


  4. frangipani Says:

    Well, Cyprus decided to become a playground for the Russian oligarchs, and I guess they’re paying the price now. Last time I was in Cyprus, the Russians were enjoying life, the Brits were summering there, and the poor bloody actual Cypriots were growing potatoes and dealing with drunken Swedish and German tourists.

    Put an expat-tax on any non-residents who have stuffed their ill-gotten rubles into Cypriot bank accounts, by all means. If there’s an actual Cypriot billionaire, leave him be.


    • gerard oosterman Says:

      Yes, I hope the Russians are paying. Anyone but the poor Cypriots. It seems unjust that the list of billionaires is growing year after year, yet the price paid for economic turmoil falls on those least able to afford it.


  5. Patti Kuche Says:

    Putin wants his money!


  6. paul walter Says:

    Legalised looting… and not just the oili garchs.
    We hopped in a Tardis and arrived back in the Dark Ages.


  7. paul walter Says:

    Btw, sustaining Easter for all of you.


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