Industry

"So here is the Cyprus "rescue" in a nutshell:
  1. An economy that will be starved of credit, and will therefore shrink rapidly and very painfully for citizens
  2. An economy whose main industry, offshore banking, is being shut."
Read : http://www.bbc.co.uk/news/business-21922118.

Who is innocent, ignorant or stupid enough to call offshore banking, an activity closely related to piracy, an industry ? Words are losing their meaning all over the place.

1 comment:

Pablo Carpintero said...

Title in the FT :
"Cyprus agrees deal on €10bn bailout"
"Markets rise as agreement does not need parliamentary approval"

Democracy is on the way out in Europe ...