An article on economics is always difficult to understand unless we have pre knowledge global economy and its current situation. This article pehaps brought out the worst fears on how ignorant people can be if they don't look into what happening with thier country's economy. Cuprus deal brought in light many things which uprooted the system of bail outs from governments and that could be seen from the continuing protest by people of Cyprus.
Author uses an ojective tone on how the EU Government had come forward to bail out one of its European countries Cyprus and the deal which was propsed by the government in return of bailing out the national bank of Cyprus.Author explains that the idea of decducing 10% from the savings accounts of those individuals who have a closing balance of 100000 euros and 6% from those who have less than 100000 Euros by EU government will have a negative response from common public since they were being penalized for the flaws in Bank system. The same could be seen as people have come to protest their anger for Cyprus to sign such a deal. How ever author suggestes that if this deal is closed then EU government would levy similar penalties for all its future bail outs which might eventually impact the Global Economy.
All in all Author hopes that RBI will take enough measure to make sure the Cyprus deal will not effect Indian Economy just as the same way it had prevented Indian Economy to fall down under immense pressure of Global meltdown which Europe had to see some time bak.
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