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Cyprus alright now, British banking experts offer 'technical assistance'


just john

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Marios Panayides, 65, a protester outside the Cypriot parliament said:

"Our so-called friends and partners sold us out. They have completely

abandoned us on the edge of an abyss."

And that's the message from a  Cypriot pensioner that will be taken by millions within the E.Z today ...   Who will  give their trust to Brussels to look after them in the future now ... ?

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Why do I feel as if we are watching the slow death of the euro as the Germans reorganize Europe on their terms, to create a Northern Euro for the rich and a Southern Euro for the poor.

The Cypriots are getting scre*ed for something everyone knew about and accepted in their banking sector. So unfair.

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a quote from yahoo news

"There was a particularly blunt message on Sunday from the French finance minister, Pierre Moscovici, who told a French television channel: "To all those who say that we are strangling an entire people ... Cyprus is a casino economy that was on the brink of bankruptcy.”

But the islanders feel they have been betrayed by their EU partners, and point out that the bailout they need is a fraction of the money given to Greece in the last two years."
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I think the Russians will look at this as an EU plot to steal from  them thought up by the IMF. and the E C B .  I read that the KGB keeps its money in Cyprus. That means Putin keeps his money in Cyprus. Putin has already said this move by the EU was a "dangerous " one ... I imagine a lot of people connected with this Cyprus levy will not be sleeping easy now knowing who they have crossed .

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Well, there we are then, that's Ireland, Portugal, Spain, Italy, Greece and Cyprus bug*ered for the next ten years at least. France is hanging by the skin of one of the penguins teeth and by its ability to cook the accounts as is Belgium. UK is up that creek without a paddle, Hungary seems to be going extreme right...... Great Bobo in a bucket, what will be left soon?

Would it not be cheaper in all senses to kick out the Germans and have a weak but prosperous mark.

And the Chinese have bought Greece and are doing the same in Spain. The Quataris are buying France and the UK will sell herself to anyone who will pay the price.

I'm telling my kids to emigrate.

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 What we all knew anyway......now confirmed  this afternoon      From  Guardian  Business on line   . 

Dijsselbloem: Cyprus deal is template for the future

Eurogroup head Jeroen Dijsselbloem has sent the euro tumbling by declaring that the Cyprus rescue should be seen as a template for the rest of the eurozone.

In an interview with reporters in Brussels after the Cyprus plan was agreed, Dijsselbloem argued that Europe could now take a new approach to tackling struggling banks.

Dijsselbloem said (via Reuters):

What we've done last night is what I call pushing back the risks.

If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'.

If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.

Dijsselbloem, who began his term as Eurogroup president by presiding over the botched original bailout for Cyprus, argues that it's fair for big depositors to take the hit:

If we want to have a healthy, sound financial sector, the only way is to say, 'Look, there where you take on the risks, you must deal with them, and if you can't deal with them, then you shouldn't have taken them on....

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''Jeroen Dijsselbloem Any reason anyone should leave more than €100k in a euro area bank after your comments? Any at all?''

No wonder the Euro is set to tumble, this would affect anyone who runs a significant business account, and especially anyone buying or selling a house . . .

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What are you lot talking about, collapse of the Euro, my arse, it was 1.177 this morning now 1.181 (it was 1.182 two minutes ago), not exactly a collapse against the pound is it. Wake me up when it gets past 1.60 to the pound and I might get worried. Mind you all the expat pensioners in France, Spain even Cyprus etc would welcome with open hands a Euro crash. It would shaft the UK a bit though who allegedly rely on the low Euro for exports.

In certain circumstances I think this guy and Merkel are right. The ECB sets the interest rates and issues laws on money laundering. In 2008 Cyprus banks removed money laundering laws and started offering massive, compared to the rest of Europe, interest rates. Now its all gone tits up they want help and the ECB has said 'hang on a minute'.

As for the people well it's BCCI all over again. People driven by greed, that little extra one or two percent or in some cases seven. Whats the saying, "If it looks to good to be true then it normally is" and certainly BCCI taught many that when it comes to banks. Funny how the only bank in Cyprus that has always stuck to rules will not be penalised in any way.

As for the UK, well it's not in the Euro so it will have to go cape in hand to the IMF if UK banks go to the wall and the government has no money left. What with it about to have its credit rating reduced I suspect you would see much worse events unfold there should it happen.

But then on the other side of the coin, as I had said before, if the ECB had given them all the money straight off and it was discovered that a lot of money that had been 'saved' belonged to Russian gangsters everyone, including here would be jumping up and down.

Personally I think you might see the Russian fleet appear of the the coast on Cyprus in the next few days and they will certainly 'commandeer' the gas and oil fields. It cold be the start of WW3. [;-)]

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[quote user="Quillan"]

What are you lot talking about, collapse of the Euro, my arse, it was 1.177 this morning now 1.181 (it was 1.182 two minutes ago), [/quote]

Sorry Q that was my fault, i transferred some money this morning and it always does that straight after. Russian money Greek crisis, Cyprus it doesn't matter it always goes up afterwards [6]

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[quote user="Théière"][quote user="Quillan"]

What are you lot talking about, collapse of the Euro, my arse, it was 1.177 this morning now 1.181 (it was 1.182 two minutes ago), [/quote]

Sorry Q that was my fault, i transferred some money this morning and it always does that straight after. Russian money Greek crisis, Cyprus it doesn't matter it always goes up afterwards [6]

[/quote]

My mate is the opposite, he swears there is a conspiracy to lower the rate every month when his pension is due to be paid.

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Cyprus did exactly what is was permitted to do and as long as the going was good it was fine, but now, a pious East German chancellor seeking reelection decides to impose a new straightjacket and destroy a very small country (the economy is the size of Bremen).

I would point out that the biggest profiteers of, for example, Cypriot shipping rules, are/ were German companies to the extent of something like 23 Germans to 6 others.

Common sense says we need variety, not the jackboot!

 

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