The Whole Europe is on The Verge of Bankruptcy

Entire eurosystem on verge of bankruptcy: Lawrence Freeman

A political analyst tells Press TV that the banking crisis in Cyprus shows that the entire Euro system has been completely bankrupt and has failed. The comments came after Russian President Vladimir Putin said that the banking crisis in Cyprus has revealed the unreliability of Western financial institutions. In an interview on Friday with Germany's state-owned ARD television before an April 7 visit to the European nation, Putin accused Cypriot and European Union leaders of undermining confidence in Europe's banks by taxing deposits as part of the island country's international bailout agreement.