During the height of the Greek financial crisis, we described it as the financial pinky finger of the European monetary system. The Greeks knew that debt repudiation and destruction in their country could trigger a contagion of monetary destruction throughout the whole of Europe. Debt is the money. Destruction of debt could turn into a collapse of the monetary system, the banks and even the member countries themselves. Therefore, Greece could not be allowed to default.
Cyprus represents a more ominous version. Not only do their banks hold lots of Greek debt, but we also found out last week at King World News that this story involves Russians, the KGB as well as the potential for vast amounts of natural gas reserves lying within the territorial waters of Cyprus. The story truly is a Russian doll. The more layers that are peeled, the more complicated the situation becomes.
Read the complete article at King World News here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.