I am saying that not even God can fix what the federal government is to doing to its own economy.

Reuters is reporting a plan to “spare”  a European meltdown beginning in Cyprus.  

Swiftly backed by euro zone finance ministers, the plan will spare the Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank".

Deposits above 100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki's debts and recapitalize [the] Bank of Cyprus through a deposit/equity conversion.

The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros, Eurogroup chairman Jeroen Dijssebloem said.

The problem,  as I see it,  is this:  the over-riding circumstance is not the immediacy of the debt crisis in Europe.  Rather,  it is the fact that stealing money for within the EU community is a closed system “solution”  that brings in no “outside” capital.  The EU economy as expressed in GDP is the real issue.  Europe is not producing enough profit to cover its expenses.  If the “family” is in dire straits,  stealing from the children solves nothing.  Sending the children out to earn more money is the solution. 

And the United States is involved in the same incestral practice;  it prints its own money and then “buys” it out of the economy to “pay” debt.    In fact,  Bernanke is creating 84 billion in new money,  each and every month,  weakening the dollar with every printed dollar,  and praying for some sort of miracle that is not going to happen.  Yes,  I am saying that not even God can fix what the federal government is to doing to its own economy.