Syndicated columnist Charles Krauthammer put the “Euro crisis” into perspective Monday, stating that the amount Cyprus needs for a bailout is about a quarter of Apple’s “cash on hand.”
And while Cyprus is a small country and Apple is a multinational corporation, the situation in Cyprus has thrown markets in Europe and across the world in a lurch.
“What’s amazing here, I think, is how small Cyprus is and how relatively small the problem is…” Krauthammer said on Fox News. “This is one country that Apple could purchase and have a lot left. It could own the island and call it, you know, iCyprus or something, and have all this cash left over.”
International creditors and Cyprus’ leaders have been scrambling for over a week to determine the best path forward for the small island country. When they announced a tax of between 6% and 10% on all Cypriot bank deposits to help fund the $13 billion bailout, international outrage and riots made an adjustment necessary. Now they’ve simply frozen all deposits over 100,000 euros until they finalize their plans.
iCyprus would be “a great campus for Apple,” Krauthammer joked at the end of the show.
Watch Krauthammer’s remarks courtesy of Newsbusters, below:
- Shock, Anger, & Fear: Here’s the International Reaction to Cyprus’ Shock Tax on Bank Deposits
- Cyprus Has Been Bailed Out: Here’s What You Need to Know
- It Begins: Unrest Hits Cyprus, Police Scuffle With Protesters
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