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  • Eurozone offers Cyprus the exit - our way or the highway

    From telegraph.co.uk

    The eurozone will show Cyprus the exit from the EU single currency today unless it bows to demands to effectively wind down its largest bank, devastating the island's economy. The Cypriot President Nicos Anastasiades and other ministers arrive in Brussels mid-morning for meetings this afternoon with senior EU leaders, including Herman Van Rompuy, the European Council president, and Christine Lagarde, the IMF’s managing director. The leaders of the debt-laden island will then meet with eurozone finance ministers for last-ditch talks to secure a €10bn (£8.5bn) to save Cyprus from bankruptcy. The negotiations are ... (full story)

I'm really wondering whether Euro-zone is not able to manage the smallest country with 1 millions people?

Something are unbelievable in this story. They may want Russian money!
Quoting Maso
I'm really wondering whether Euro-zone is not able to manage the smallest country with 1 millions people?

Something are unbelievable in this story. They may want Russian money!
Fair point. Although, I think they are trying to beat them into submission as a test tube project which can be troubling for larger countries.

France may very well be the next one on the table. There are quite a few indications that they are heading into bankruptcy.
Quoting Pip Anon
Fair point. Although, I think they are trying to beat them into submission as a test tube project which can be troubling for larger countries.

France may very well be the next one on the table. There are quite a few indications that they are heading into bankruptcy.

I agree, they are trying to make an example out of Cyprus. But would they really risk Cyprus leaving Euro?
I
Quoting CoolJL
I agree, they are trying to make an example out of Cyprus. But would they really risk Cyprus leaving Euro?
It is giant game of poker calling each other's bluff. People underestimate the outcome of this because Cyprus is so small, but I think it goes beyond Cyprus. They may not give those terms to France or Italy, but who knows?

The EZ gives daily examples of how much of a mess the area is. Still four years later, there is no united EZ banking system. Each country act on their own; no unity. Nothing has changed. That will only lead to more crap down the road.
So does it mean we can see a big gap down on monday?
I don't know. Maybe not a big one. Traders assume a deal will be done. I think if nothing is done, the indecision will create a lower movement.
Cyprus should leave the EU zone just for the hack of it. To show them that her own people are not for sale! That would give an example to the zone, that the way it is built, the way they are handling situations are not right, and can't build upon. The whole system is built on quick sand and the sooner it collapses the better!
Besides it is very transparent now, how the western civilizations survive nowadays. On the spine of the easterners. They are trying to trick them with their taxes. yes we will give you money, of coarse, just pay it back with 60% interest.
Is that fair?!
Cyprus is a test case. Greece, Italy, Spain, Portugal should get behind Cyprus.

I still don't understand how these "investors" can insist that if their investments goes south then someone else should pay for it.

BTW the same thing they are trying to do in Cyprus failed in Argentina.
Watch Argentina’s Economic Collapse.
  • Post #10
  • Quote
  • Edited at 2:14pm Mar 24, 2013 11:48am | Edited at 2:14pm
If theY did that then Greece might do the same setting a trend in the EZ. All the debt laden countries in Europe and around the world is not a mistake this is what the IMF and the EU banks want so they the BANKSTERS corporate facist can de-nationalise these countries and buy up the assets for pennies on the dollar as part of the agreement for lending them the money DE-NATIONALISE your INDUSTRIES and give us control of your BANKS we run shit now!
Quoting attrium
Besides it is very transparent now, how the western civilizations survive nowadays. On the spine of the easterners. They are trying to trick them with their taxes. yes we will give you money, of coarse, just pay it back with 60% interest.
Is that fair?!

Is it fair that they have to give their money to failing countries in the first place? One way of not paying whatever high interest is by running your country legit.

Just like ANY loan or credit program: a high-risk borrower will pay for being high-risk. That is the cost of doing business.
The discussions can go on and on, but the Cyprus case is very exceptional:

Their GDP is 7.5 times lower than all deposits held (even if mostly by foreigners) in the country's banks.

Let us be realistic and ask ourselves this VERY SIMPLE QUESTION:

Can you prove to your closest relative (even to your dad or mom) that you are poor and penniless when you have bank accounts "in your name" over packed with liquid money?....even if the money does not belong to you?

Your dad's or mom's simple reasoning will be, that you should have enormous benefits from holding the huge sums in bank accounts opened in your name.

Hence, logically, asking Cyprus to levy those bank account deposits for a "deal" is not the worst idea so far.
  • Post #13
  • Quote
  • Edited at 12:27pm Mar 24, 2013 12:15pm | Edited at 12:27pm
Quoting attrium
Cyprus should leave the EU zone just for the hack of it. To show them that her own people are not for sale! That would give an example to the zone, that the way it is built, the way they are handling situations are not right, and can't build upon. The whole system is built on quick sand and the sooner it collapses the better!
Hmmm... you forgot to mention it would be better (EU collapsing) for Americans and their best friends - Britons.
EU is mainly political union in very first stages. The EU's economy will experience many colapses, tsunamies, downgrades or other disters untill EU become the European Federation. Beacuse there is no unified economy without true unified political system.

This non-existing yet Euro Federation - is one of the main causes of US politicians' headache. It's obvious that they don't want another concurent. The China or India is enaugh for them.
That's why US and UK media and guys from Moody's Fitch etc will do everything to humiliate and even destroy this project.
Quoting Ulule
Hmmm... you forgot to mention it would be better (EU collapsing) for Americans and their best friends - Britons.
EU is mainly political union in very first stages. The EU's economy will experience many colapses, tsunamies, downgrades or other disters untill EU become the European Federation. Beacuse there is no unified economy without true unified political system.

This non-existing yet Euro Federation - is one of the main causes of US politicians' headache. It's obvious that they don't want another concurent. The China or India is enaugh...
Although to some extents that's right that the US don't like other competitors such as china, but you know that Euro and Cable are set by the US. Then, they are manageable and much useful for the US economy.
hmm just gotta new story this week..
Cyprus part 2... last week deposit levy, now stay or exit from EZ.

last years, we have GREXIT, Greece Exit.. but not happen.. this years we have CYPEXIT, Cyprus Exit...

will it happen ?


to be continued...
Quoting Pip Anon
Is it fair that they have to give their money to failing countries in the first place? One way of not paying whatever high interest is by running your country legit.

Just like ANY loan or credit program: a high-risk borrower will pay for being high-risk. That is the cost of doing business.
Yes indeed the cost!
Nobody mentions though that the west in Europe tricked the East, because the East was kept in darkness (yes all the communism and dictatorships were in the wests interest...) and totally mislead. There are no business men in there, no real merchants, no professionals.
About Cyprus, let me tell you a little secret, that many of you actually might not know at all:
First of Italy, Spain, Ireland, Greece and all these economically,politically, fiscally not ready countries, were pulled into the EU Zone. Greece and all these countries got loans at the very beginning with high interest already. These countries without professionals had no clue what to do with it, or how to invest it, secure it, so they've spent it. Of course nobody's fault but the one who have spent it. When Greece got in trouble, they and Germany especially, advised Cyprus to put their money into Greek bonds, so that the zone doesn't get hurt, telling them not to worry, cause when time comes they will help them out. Although nobody has told them at what cost will that happen. And voila, there you have it, everything is revealed now. Now they are telling them that if you don't like it we don't care. You are too small to deal with anyway. Why didn't they tell that to Greece back than you might wonder?! Because if Greece has left the zone, would have had a large enough impact to crash the whole European Union, and I don't mean United, but Union. Unions are the biggest mafia all over the world, don't you forget that!
The true future of Euro Zone and its common currency is very cloudy. The problems are sporadic, and nobody knows which country is next on the row with problems. It may end up that Germany will one day return to their Deutsche Mark...and that will be the end of the Euro.
If the Germans who are exporters and not financial services based get their way, global financial services will be put in a spin. Consequently, the British and Americans who are the globe's financial services engine will be seeking to assume the reins of the EU during this debacle.

It has to be said that Germany is not fit enough to lead global capitalism. They simply do not have the expertise. They may be good at making nuts and bolts but there is more to global capitalism than manufacturing. Lets hope that a deal is done for all our sakes as home based retail traders from all corners of this globe.
The NWO is trying to bring in a one world currency global system so the sovereignity of every nation has to be destroyed to bring this about
Quoting Tradewizardz
The NWO is trying to bring in a one world currency global system so the sovereignity of every nation has to be destroyed to bring this about
As a retail trader (I presume you are a trader), I would have thought that by your very actions, you would have realised you are a part of the inevitable globalising process that happens in capitalism as investors mature beyond national borders.

Clearly, you are unable to see the links.
And preferably a deal that involves debt funding and not levies on investments.
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