Bailout of Cyprus to cost depositors 10% immediately

Discussion in 'Markets & Economies' started by Caput Lupinum, Mar 16, 2013.

  1. menotcrimex

    menotcrimex Member Silver Stacker

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    Agreed selling virtual paper gold that could not have existed in the real world now end game is near.

    Get ready for a good week - month - 2013-2015 in physical
     
  2. Peter

    Peter Well-Known Member

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    My take on Cyprus.
    there's large gas reserves between Cyprus and ISrael.Europe wants control of the field to stop its dependence on Russian gas.
    Russia wants control of it so as to continue Europe's dependence and also to get a naval base (and airfield?) In cyprus.Europe's bailout gets control of the gas, and stops Cyprus dependence on Russia financially.

    Quote"Why would Russia be acting this way towards Cyprus? The obvious answer is that Russia knows exactly who's sitting around this poker table: it's not Cyprus that they're playing, it's the EU. If Russia were to enter into good-faith negotiations with Cyprus right now, that would help the EU, by reducing the amount of EU support that the island nation needs. Moreover, any deal that Russia made with Cyprus could be vetoed by Germany, or the Eurogroup, or the ECB, or even possibly the IMF. Russia is too big and too important to try to do deals which could be forcibly unraveled on a German finance minister's whim.
    more at
    http://blogs.reuters.com/felix-salmon/2013/03/22/cyprus-what-are-the-russians-playing-at/
     
  3. southerncross

    southerncross Well-Known Member Silver Stacker

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    No No No , what actually happened was they heard that Julia Gillard and the rest of the Labor party want to retire there after losing the Sept election so they are trying to discourage them from coming. Pauline Hanson is organizing it all.

    [​IMG]
    Source:
     
  4. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Those gas fields would be at least 6-7 years away from being developed and functioning. Russia in the meantime could easily give europe the cold shoulder
     
  5. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Turks should bail-out Cyprus!

    They tried in 74!

    [youtube]http://www.youtube.com/watch?v=enpM2OH_dz8[/youtube]
     
  6. hyphenated

    hyphenated Active Member

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    Perhaps Sportsbet knows something we don't.

    First Country To Leave The Euro Sunday 08/09/2013

    Greece 1.72
    Cyprus 2.40
    Italy 8.00
    Spain 8.00
    Portugal 12.00
    Germany 15.00
    Ireland 17.00
    Austria 26.00
    France 34.00
    Belgium 34.00

    Hmmm.

    It will be very interesting to see which memes circulate: Will it be the big, bad IMF taking out the poor Cypriots; or the Russions taking on the EU; or the Mafia taking on the Banksters (I'm gonna make you an offer you can't hedge) or the Greeks bailing from the banking sector?

    Place your bets...
     
  7. errol43

    errol43 New Member Silver Stacker

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    SC.. Good on you mate for your link on the debt clock. Seems like Victoria is a basket case followed by NSW. :)

    How come Qld is in the black? Must be QIDC! Has Peter Costello go his figures wrong? I thought he said we were $65 billion in debt.

    Is that debt clock accurate?

    Maybe some mexicans might have some answers!

    Regards Errol 43
     
  8. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Do they give any odds on the next country to require a bailout?
     
  9. southerncross

    southerncross Well-Known Member Silver Stacker

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    Is there an equivalent to Sportsbet in Euroland ? Might be a bit of a myopic view down here.
     
  10. southerncross

    southerncross Well-Known Member Silver Stacker

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    Don't really know M8, just like taking the piss out of Reno :lol:
     
  11. Peter

    Peter Well-Known Member

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    Note.In the present agreement Cyprus hocks the Gasfields to the EU.
    3 -6 years is nothing in international power play.

    The haircut will cause Russian money, and therefore influence, to move out of Cyprus.
    Cyprus is close to Israel, America's unsinkable giant aircraft cArrier.
    A Russian base on Cyprus would be well worth stopping .
     
  12. renovator

    renovator Well-Known Member

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    :rolleyes:











    :lol:



    You need to remember theres more income in nsw & vic being the major hubs . I wonder what it is in revenue ratio between the states
     
  13. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Laiki Bank has reduced its already reduced daily ATM withdrawal limit from 260 euros to just 100 euros
     
  14. southerncross

    southerncross Well-Known Member Silver Stacker

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    Can you imagine living that ? You need to feed your family, fuel the car, pay a bill, have holiday's organized, whatever but you can't access your OWN MONEY.

    F%^& THAT !
     
  15. southerncross

    southerncross Well-Known Member Silver Stacker

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    RED BLACK thats all you need to remember M8 cause it's all that matters. :D Oh and that you guys really really suck at Rugby too :lol: :lol: :lol:
     
  16. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Update:


    Cyprus's president, Nicos Anastadiades, has been locked in renewed talks with EU officials tonight, after a day of negotiations and deadlock in Brussels.

    The sticking point appears to be Anastadiades's refusal to accept the Troika's terms for the restructuring of Cyprus's banks - at one stage he reportedly threatened to resign.(see here)

    Cyprus's finance minister has told some reporters that the Troika want haircuts of over 50% for wealthy savers (100k+) at Bank of Cyprus (see here)

    The Eurogroup of finance ministers is currently not sitting, and is expected to consider the situation sometime after Anastadiades completes his dinner with Herman Van Rompuy and Jose Manuel Barroso.

    Meanwhile over in Cyprus, customers of its two biggest banks have seen their daily maximum withdrawal limits cut to 100 per day. (see here)

    And a small homemade explosive has gone off at a local bank.

    http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-bailout-eurogroup-meeting
     
  17. Phiber

    Phiber Active Member Silver Stacker

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    Damn... Where the hell is this thing heading!
     
  18. willrocks

    willrocks Well-Known Member Silver Stacker

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    [youtube]http://www.youtube.com/watch?v=y97rBdSYbkg[/youtube]
     
  19. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    It's almost like the Eurogroup wants Cyprus to leave. They keep trying to shift the goalposts everytime they look set to make a deal.
     
  20. thatguy

    thatguy Active Member

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    Leave?! The Eurozone IS A prison... there is not leaving possible.

    there I fixed it for you, there is no escape! But is is time to pay
     

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