Cyprus

[NanLaew]

P.S. Thanks IMF/ECB for driving the price over $50

This sounds like something that will fall apart spectacularly one day.

Like the US when the mighty US$ is no longer the world's standard reserve currency. Can't see they would last a week and all those billions printed would be so much... paper.

[meatboy]

wait and see what rate the euro vs the bht.on bbc.this morn.4am the £ was trading at 16.76.up over1.5cents.

monday the £ vs bht=44.32 going up.

euro vs bht37.90.going down

yesterday £ dropped vs bht.=43.91.euro vs bht =37.71

today only one way ?

cyprus is only a small island,gremlins at work.

euro down to 37.38 vs bht. £ down 43.88. how many more need bailing out.

could be the uk are going to see a big influx of euro's.roll up roll up who wants to buy some euro's

$ down to THB 29.05

euro =37.26. £ =43.75.$ =29.03. good for the tourist trade.

[churchill]

Cyprus talk of exiting and printing Pounds ..... or perhaps Roubles

What a farce from the EU , I expect Putin is rubbing his hands

[churchill]

'Daniel Hannan ‏@DanHannanMEP5m

Cyprus faces an unenviable choice: pawn itself to an authoritarian kleptocracy, or spurn the EU and take Russia's money instead.'

and anyone surprised

Russian Market ‏@russian_market7m

Market chatter that some Russian banks on Cyprus operate for VIP-clients today despite the official ban. https://twitter.com/lebedevalex/status/314274918508400640 …

[GuestHouse]

The 'Game', lest you missed it, is for mainland EU to use the current mess Cypress is in as a lever to destroy the 'irksome' low tax/no tax/easy money laundering financial sector that is at the root of the island's economy and at the root of much EU tax avoidance and money laundering.

[GuestHouse]

Meanwhile, Bangkok's wide boy carpet baggers, who until recently were selling financial products based in Cypress, have gone awfully quiet.

So at least some good has come of this.

[churchill]

Girls, dirty money and the fall of Russia's playground in the sun

Read more: http://www.dailymail.co.uk/news/article-2297820/Girls-dirty-money-fall-Russias-playground-sun.html#ixzz2OLQNMDG1
Follow us: @MailOnline on Twitter | DailyMail on Facebook

[Naam]

Cyprus talk of exiting and printing Pounds ..... or perhaps Roubles

What a farce from the EU , I expect Putin is rubbing his hands

and Churchill is presenting collected bull²

correct is that Cyprus is planning to adopt the strong Thai Baht as home currency

[Naam]

Meanwhile, Bangkok's wide boy carpet baggers, who until recently were selling financial products based in Cypress, have gone awfully quiet.

So at least some good has come of this.

Cypress is a tree GH. Cyprus/Κύπρος (in other languages Chypre, Zypern, Chipre, Kibros, Kibris) is an island located in the mediterranean sea.

[churchill]

Cyprus talk of exiting and printing Pounds ..... or perhaps Roubles

What a farce from the EU , I expect Putin is rubbing his hands

and Churchill is presenting collected bull²

correct is that Cyprus is planning to adopt the strong Thai Baht as home currency

Yes Naam ...Please note my speculation was made 2 days ago...as the financial minister was off to Moscow and terms and options have been changing on an hourly basis since then

[churchill]

The Five Strangest Ways to Solve the Cyprus Crisis

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/22/the-five-strangest-ways-to-solve-the-cyprus-crisis/?wprss=rss_ezra-klein

[Naam]

Cyprus talk of exiting and printing Pounds ..... or perhaps Roubles

What a farce from the EU , I expect Putin is rubbing his hands

and Churchill is presenting collected bull²

correct is that Cyprus is planning to adopt the strong Thai Baht as home currency

Yes Naam ...Please note my speculation was made 2 days ago...as the financial minister was off to Moscow and terms and options have been changing on an hourly basis since then

blackmailing the EU with Russia was never a credible option. but the Cypriots considered it worth a try by spreading ridiculous rumours "Gazprom Billions for Offshore Rights" and "Military Bridgehead and Port for Russian Armed Forces".

[Naam]

The Five Strangest Ways to Solve the Cyprus Crisis

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/22/the-five-strangest-ways-to-solve-the-cyprus-crisis/?wprss=rss_ezra-klein

Lee Buchheit and Duke law professor Mitu Gulati have developed a plan

in which deposits under €100,000 ($130,000) are left alone, but all

deposits in excess of that amount are converted into five- or 10-year

certificates of deposit (CDs), which would pay out interest over time.

That allows the banks to delay payment until Cyprus’s gas deposits start

to yield fruit.

Cyprus offshore gas deposits are presently nothing but Cypriot politicians sitting on Cloud Nine doing some wishful thinking while poking their noses. nobody in that line of business will believe anything unless surveys are performed by renowned companies such as Miller Lenz et al.

interesting is the fact that the "gas deposits" surfaced with the financial problems of Cyprus

[yoshiwara]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

[mccw]

""Politicians in Cyprus have reportedly agreed a new one-off levy on savers in order to secure a European bailout.

The measures, yet to be confirmed by the country's President, include a 20% tax on savers with deposits over 100,000 euros at the country's largest bank, the Bank of Cyprus.

A 4% tax on deposits over 100,000 euros would be levied at other banks, a senior Cypriot official told Reuters.""

-sky news app

But rt app reporting similar aswell

[mccw]

Bbc saying 25% on deposits over 100k

http://bbc.co.uk/news/world-europe-21909673

At least if they leave the "garranteed" money alone it may not create total loss of faith for the average depositor. But the fact it came up would be enough for me.

[midas]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

[churchill]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

If they tax large deposits .....This may be correct ....but will large account holders & companies responsible to shareholders in other Euro Countries be required or feel the need to move funds outside the Euro Zone ...

[churchill]

'Jill Kerby ‏@JillKerby

11m

#Marian The Irish Central Bank deposit insurance fund = €388 million; household deposits are worth c€100 BILLION. Go figure.'

[midas]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

If they tax large deposits .....This may be correct ....but will large account holders & companies responsible to shareholders in other Euro Countries be required or feel the need to move funds outside the Euro Zone ...

If they try this type of thing on in Italy they could end up confiscating money from the mob then we might see a few banksters and politicians " sleeping with the fishes ". Actually , it would be poetic justice .

And if members of the Russian mafia lose money in Cyprus over this we don't know how they will react either. I hope they've got good food tasters

Edited March 24, 2013 by midas

[midas]

Cypriot president 'warned his friends to move money abroad' before financial crisis hit

" Cypriot president Nikos Anastasiades 'warned' close friends of the financial crisis about to engulf his country so they could move their money abroad, it was claimed on Friday.Italian media said the 4.5 billion euros left the island in the week before the crisis. "

http://www.dailymail.co.uk/news/article-2297383/Cyprus-bailout-President-Nikos-Anastasiades-warned-friends-money-abroad.html

Edited March 24, 2013 by midas

[yoshiwara]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

No they don't. Just another of your made up scenarios.

[Thailand1977]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

No they don't. Just another of your made up scenarios.

Its happened before in Italy ... July 1992 .... that story was written in Nov 2011 ... how it has predicted the future of the EU without even knowing.

http://www.marketwatch.com/story/want-berlusconi-out-be-careful-what-you-wish-for-2011-11-08?dist=afterbell

The banks and fascists of the EU will take what they want .... they already are in Britain by printing.

Edited March 24, 2013 by Thailand1977

[Naam]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

No they don't. Just another of your made up scenarios.

Its happened before in Italy ... July 1992 .... that story was written in Nov 2011 ... how it has predicted the future of the EU without even knowing.

http://www.marketwatch.com/story/want-berlusconi-out-be-careful-what-you-wish-for-2011-11-08?dist=afterbell

The banks and fascists of the EU will take what they want .... they already are in Britain by printing.

the fascists even dug a tunnel to facilitate their invasion of Britain's printing presses

[midas]

When the Soviet Union fell Cyprus was one of the first places for money fleeing Russia.

No questions asked, the banks took the money on deposit.

OK so far, but what the banks then did was buy Greek financial instruments to get their return.

The Greek stuff tanked and the Cypriot banks eventually insolvent.

This was a crisis of Cyprus's (and Greece's) own making.

..and Russia bleating. Well I doubt if they want the sources and method of transfer of their monies exposed to too much fresh air.

The EU has behaved quite appropriately in dealing with the situation.

“ The EU has behaved quite appropriately in dealing with the situation. “

And on what grounds would they be justified in doing the same thing in Italy which everybody expects to happen next?

No they don't. Just another of your made up scenarios.

Its happened before in Italy ... July 1992 .... that story was written in Nov 2011 ... how it has predicted the future of the EU without even knowing.

http://www.marketwatch.com/story/want-berlusconi-out-be-careful-what-you-wish-for-2011-11-08?dist=afterbell

The banks and fascists of the EU will take what they want .... they already are in Britain by printing.

Bury your head in the sand as usual Yoshiwara……………..

Banking Chief Calls For 15% Tax In Italy

https://fortunascorner.wordpress.com/2013/03/18/banking-chief-calls-for-15-tax-in-italy/

[Naam]

Bury your head in the sand as usual Yoshiwara……………..

Banking Chief Calls For 15% Tax In Italy

https://fortunascorner.wordpress.com/2013/03/18/banking-chief-calls-for-15-tax-in-italy/

selected misinformations:

Jörg Krämer is not a "banking chief" but the "chief economist" of the German bank Commerzbank.

Krämer did not "call" for a tax in Italy but answered during an interview the question "how would taxes on cash accounts affect other highly indebted countries?" . his answer was "take Italy as an example. a 15% tax would reduce the debt/gdp ratio below 100%."

[kblaze]

^^

Well all you would have to see is "Infowars" and "Paul Joseph Watson" to know the article is rubbish. The "Watson" character is fearmongerer Alex Jones' right-hand man and has a keen penchant for selectively choosing quotes and twisting meanings.

If someone with real power/influence truly said we need to loot 15% of Italian savings we would see an instant bank run Euro-wide. Sry, but it aint gonna happen like that.

[midas]

^^

Well all you would have to see is "Infowars" and "Paul Joseph Watson" to know the article is rubbish. The "Watson" character is fearmongerer Alex Jones' right-hand man and has a keen penchant for selectively choosing quotes and twisting meanings.

If someone with real power/influence truly said we need to loot 15% of Italian savings we would see an instant bank run Euro-wide. Sry, but it aint gonna happen like that.

Quite frankly I wouldn't care if Donald Duck wrote the article. I am much more concerned about the impact of these moves.

Never mind I will wait for Yoshiwara to try to justify the next confiscation when it happens.

Meanwhile if you have a business in Spain or Italy or Greece it would be very risky to keep significant money in the bank knowing you could lose everything above 100,000 euros.

As Yogi Bear quite correctly said earlier " the central question is does the average Euro depositor trust his bank any more? Fail that test and it's all over in Europe, the US, and maybe all over.

The only strength a bank offers is trust. If the bank guarantees my deposit is going to shrink whenever they are in the mood to do so, the bank has little to offer."

Edited March 25, 2013 by midas

[Naam]

^^

Well all you would have to see is "Infowars" and "Paul Joseph Watson" to know the article is rubbish. The "Watson" character is fearmongerer Alex Jones' right-hand man and has a keen penchant for selectively choosing quotes and twisting meanings.

If someone with real power/influence truly said we need to loot 15% of Italian savings we would see an instant bank run Euro-wide. Sry, but it aint gonna happen like that.

Quite frankly I wouldn't care if Donald Duck wrote the article. I am much more concerned about the impact of these moves.

Never mind I will wait for Yoshiwara to try to justify the next confiscation when it happens.

Meanwhile if you have a business in Spain or Italy or Greece it would be very risky to keep significant money in the bank knowing you could lose everything above 100,000 euros.

i dare to bet my [not so] sweet butt that "kblaze" has neither a business nor significant cash deposits in Spain, Italy or Greece.

[midas]

*Breaking: In response, a bomb has just been detonated at the Limassol branch of the bank of Cyprus: