Today, a significant part of our wealth is in the ‘books’ of financial institutions. We are made to believe that our monies are available in full, safe and can be accessed at any time. The unfolding of events in Cyprus has given us a rude awakening that this may not be so.
Suddenly, a sizeable chunk of personal wealth has been ‘nationalised’ in the guise of bailing out the Cypriot economy. If it can happen in Cyprus, it can happen anywhere. Greedy Humans and Casino style Financial Institutions can be a ‘lethal’ mix.