Thursday, 28 March 2013

Quote of the Day, 3: Post-Cyprus

“You cannot dick around with money on this scale unless you know what you’re doing. To suggest that the bail-in legislation is a problem [only] for the periphery and uninsured depositors is to say that the fire is downstairs… [We have rank amateurs playing a high-stakes game without understanding either the rules or what’s at stake. Maybe our masters have plans for a controlled detonation of a massively complex and unstable system. But I see damn all evidence of that. Instead we appear to have a group of under-qualified provincial politicians who, having been badly mauled by a housecat are looking to pick a fight with an alligator.”
            - Pawelmorski, “Europe: No Need To Worry, The Fire’s Downstairs

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