{"id":1140,"date":"2013-03-24T09:00:12","date_gmt":"2013-03-24T13:00:12","guid":{"rendered":"http:\/\/www.ttgnet.com\/journal\/?p=1140"},"modified":"2013-03-24T09:00:12","modified_gmt":"2013-03-24T13:00:12","slug":"sunday-24-march-2013","status":"publish","type":"post","link":"https:\/\/www.ttgnet.com\/journal\/2013\/03\/24\/sunday-24-march-2013\/","title":{"rendered":"Sunday, 24 March 2013"},"content":{"rendered":"<p><span style=\"font-weight: bold; color: #000099; font-family: Arial;\">09:00 &#8211;<\/span><span style=\"font-family: Arial;\"> The patience of Germany for continuous bailouts of other eurozone countries has now obviously been completely exhausted. At this point, Germany obviously doesn&#8217;t care whether Cyprus meets its terms for a bailout, believing that the &#8220;contagion&#8221; can be contained. They&#8217;re wrong, but that&#8217;s what they believe. For Cyprus, the point is moot anyway. Either way, Cyprus has been written off. Its economy is based on off-shore banking, and that no longer exists whether or not Cyprus is bailed out. To Cypriots, it must seem as though this catastrophe has occurred overnight, but there&#8217;s no question that Cyprus has now become the new Greece, with all that implies. And Cypriots are pissed, feeling abandoned and betrayed by the rest of the eurozone, particularly Germany. They&#8217;re screwed either way, and my guess is that this week they&#8217;ll tell the EU to get screwed. That means Cyprus defaults, crashes out of the euro, and returns to its local currency, but at this point I think most Cypriots no longer care.<br \/>\n<\/span><\/p>\n<hr style=\"width: 65%; height: 3px; font-family: Arial;\" \/>\n","protected":false},"excerpt":{"rendered":"<p>09:00 &#8211; The patience of Germany for continuous bailouts of other eurozone countries has now obviously been completely exhausted. At this point, Germany obviously doesn&#8217;t care whether Cyprus meets its terms for a bailout, believing that the &#8220;contagion&#8221; can be contained. They&#8217;re wrong, but that&#8217;s what they believe. For Cyprus, the point is moot anyway. Either way, Cyprus has been written off. Its economy is based on off-shore banking, and that no longer exists whether or not Cyprus is bailed out.<\/p>\n<p> <a href=\"https:\/\/www.ttgnet.com\/journal\/2013\/03\/24\/sunday-24-march-2013\/\">&nbsp;&raquo;&nbsp;Read more about: Sunday, 24 March 2013 &nbsp;&raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[31,13],"tags":[],"class_list":["post-1140","post","type-post","status-publish","format-standard","hentry","category-government","category-politics"],"_links":{"self":[{"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/posts\/1140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/comments?post=1140"}],"version-history":[{"count":0,"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/posts\/1140\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/media?parent=1140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/categories?post=1140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ttgnet.com\/journal\/wp-json\/wp\/v2\/tags?post=1140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}