Strong banks - how lovely!

Three worrisome incidents:

THE FIRST: First of all, the Dutch finance minister Jeroen Dijsselbloem, the current head of the Eurogroup, publicly said that Cyprus could be a model therapy for the banks which are in crisis; that, in other words, the EU could adopt the method of supporting banks by seizing a certain ratio (possibly 40%) of the deposits which exceed 100,000 Euros, meaning that it won't be just the Russian mobsters who concealed their money in Cyprus that would be left no richer than street bums, but the honorable businesspeople from Italy, France and from all over honorable Europe; following this wise statement, the Euro tumbled against the dollar, shares of European companies bounced like they a bear walking on hot coals, and the cost of default insurance for European banks exploded; then, the wise Dijsselbloem got to thinking again, reconsidered and changed his mind - no, this isn't a European model, this is not a procedure for everybody, it is specific, tailored for Cyprus and its Russians alone.

THE SECOND: While the head of the banking oversight of the NBR reassures us that the Cypriot robbery won't affect the Romanian banking system in any way, NBR chief-economist Valentin Lazea shares with us his calculations, claiming that we can keep within the banking system, without any risks, only 4.2 million Euros - an amount which comes from the sophisticated multiplication of the amount of 100,000 Euros (the maximum amount in a bank deposit which is guaranteed according to the European norms), times 40 banks (another eight are branches), that make up the Romanian banking system (in fact, I just can't tell how, 100,000 times 40 makes 4.2 million); so, the remaining money, anything that goes higher, well, don't be mad, man, you have to put in your business plan under potential risks - do what you want, you either play Russian roulette with it by putting it in the banks, or you put them in mutual funds or on the stock market.

THE THIRD: The oh-so-bright NBR advisor Adrian Vasilescu informs us that the banking system: "Society needs strong banks. The company is required to take care of banks".

Honestly, I agree with Adrian Vasilescu, we need strong banks.

Absolutely!

We need to curb prostitution.

Of course!

We need to find parents to adopt homeless children.

Right!

We need to rebuild the irrigation system in agriculture.

Yes!

We need to ensure the dialysis of people suffering from diabetes, to provide teachers, doctors and policemen in rural areas, to relaunch the industry, to integrate the gypsies and quiet the Hungarians down, to throw corrupt politicians in the slammer and to help people who have nothing to eat.

Anybody in favor?

Anybody against it?

Anybody abstaining?

So it's unanimous, Mr. Adrian Vasilescu is right!

When they seize 40% of our money placed in bank deposits, the retirees will finally be able to afford spreading some jam on their old loaf of bread, Adrian Năstase will go back to jail, the Hungarians will be more than happy to celebrate Romania's national day, we will finally be able to eat domestically produced tomatoes again and to export whatever is left to Israel, drugs will be free and all the teachers that don't do their job properly will be sent packing.

Well, sounds like a good deal.

If I knew that all those things would happen, I for one would just give away all my money, not just 40%.

Rather than having Sima steal it from me ...

Oh, how lovely it would be to have strong banks!

MAKE

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POST SCRIPTUM 1

I can't understand how a country which is supposedly lawful, where companies are required by law to keep their money in bank accounts, can just step in and take 40% of their money, so they can plug the holes they got by doing "favors" to friends, relatives and politicians.

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POST SCRIPTUM 2

Mr. Adrian Vasilescu, have you ever heard about capitalism without a banking system?

You haven't?

I have.