Former Cyprus Central Banker Goes Off On The EU And Says The European Project Is Dying
Mar. 19, 2013
Former Central Bank of Cyprus chief Anthanasios Orphanides was on Tom Keene’s show on BloombergTV this morning.
In his interview, he goes off on the EU for its treatment of Cyprus, and says the European project is dying.
You can watch the full video here.
Below is a partial transcript provided to us by Bloomberg TV.
Orphanides on Cyprus bailout:
“We are witnessing historic times. What we are witnessing is the slow death of the European Project. We are in a situation that some European governments are essentially taking actions that are telling citizens of other member states that they are not equal under the law.”
“What we have seen in the last few days is a very serious blunder by European governments that are essentially blackmailing the government of Cyprus to confiscate the money that belongs rightfully to depositors in the banking sector in Cyprus. It is not clear how this can affect in a positive matter the European project going forward.”