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  • #776,241
  • Mar 21, 2013 11:11pm Mar 21, 2013 11:11pm
Oh fuck!

Capital control coming to Cyprus.

http://www.zerohedge.com/news/2013-0...pital-controls
Not all sins are created equal
  • #776,242
  • Mar 21, 2013 11:13pm Mar 21, 2013 11:13pm
Quoting Jay Walker
Oh fuck!

Capital control coming to Cyprus.

http://www.zerohedge.com/news/2013-0...pital-controls
That shit is nuts. It will ruin the country.
When the facts change I change my mind, what do you do sir
  • #776,243
  • Mar 21, 2013 11:14pm Mar 21, 2013 11:14pm
Quoting Forexgain
Went through this small article from DownJones. Found it interesting so thought of sharing here:

The Cypriot Tangle

The Cyprus-Russia-European Union triangle is becoming mighty tangled.

The EU is demanding that Cyprus recapitalizes its banks as a condition for extending loans to keep the country afloat. So to get hold of 10 billion euros ($13 billion) of EU money, Cyprus needs to raise around EUR6 billion on its own.

[color=navy]Its...
Thanks for finding and posting this
  • #776,244
  • Mar 21, 2013 11:15pm Mar 21, 2013 11:15pm
Quoting Jay Walker
Oh fuck!

Capital control coming to Cyprus.

http://www.zerohedge.com/news/2013-0...pital-controls
According to the article unnamed sources are cited. If it does happen though then woah.
  • #776,245
  • Mar 21, 2013 11:15pm Mar 21, 2013 11:15pm
Quoting Pip Anon
That shit is nut
Remember how the shit hit the fan in Argentina when they implemented capital control?

They think that shit will fly now? It's a precedent setting event. If they can set capital control in Cyprus, they can do it anywhere in the EZ and it will inevitably happen again in one of the PIIGS.
Not all sins are created equal
  • #776,246
  • Mar 21, 2013 11:17pm Mar 21, 2013 11:17pm
Quoting Jay Walker
Oh fuck!

Capital control coming to Cyprus.

http://www.zerohedge.com/news/2013-0...pital-controls
I seriously wished I could know what EU's plan is, they scared the shite out of everyone... This is not a joke dude... Central bank approval for any fund's transfer...? What is next...? This all sounds like a gestapo camp... Don't like even discussing such topivs at all...
  • #776,247
  • Mar 21, 2013 11:18pm Mar 21, 2013 11:18pm
Quoting Pip Anon
That shit is nuts. It will ruin the country.
Is is not only Cyprus, this is damaging confidence everywhere...! I mean everywhere...!
  • #776,248
  • Mar 21, 2013 11:20pm Mar 21, 2013 11:20pm
Quoting SnaveForex
yes dude...i cracked open the vladimir vodka too early before the weekend...shit
Take it easy with that thing, I will crack my weekly allowance in the afternoon
  • #776,249
  • Mar 21, 2013 11:20pm Mar 21, 2013 11:20pm
The full name of the head of the Central Bank of Cyprus is PANICOS DEMETRIADES. (Yes, Panicos. Now. Keep calm and stop panicking.
  • #776,250
  • Mar 21, 2013 11:21pm Mar 21, 2013 11:21pm
Quoting Jay Walker
Remember how the shit hit the fan in Argentina when they implemented capital control?

They think that shit will fly now? It's a precedent setting event. If they can set capital control in Cyprus, they can do it anywhere in the EZ and it will inevitably happen again in one of the PIIGS.
Well, yes. That's what people were afraid of with the savings tax, that if they can do it to Cyprus they can do it to any member. For a government to tell you how much of your own money you could have at a given time is ludicrous. It also anchors the people there from leaving because their capital would literally be held hostage. That will ruin Cyprus and the image of the EZ before it helps if it ever does


It kills me when Draghi and those blowhards say the worst of the crisis is over and Europe is fixed, but every three months something goes wrong.
When the facts change I change my mind, what do you do sir
  • #776,251
  • Mar 21, 2013 11:21pm Mar 21, 2013 11:21pm
Quoting Mad Russian
The full name of the head of the Central Bank of Cyprus is PANICOS DEMETRIADES. (Yes, Panicos. Now. Keep calm and stop panicking.

Hahahah, that is too funny
  • #776,252
  • Mar 21, 2013 11:22pm Mar 21, 2013 11:22pm
Thinking about opening a savings account in Cyprus. Does anyone have any advice or reviews on their banks?
  • #776,253
  • Mar 21, 2013 11:22pm Mar 21, 2013 11:22pm
Quoting Pip Anon
Well, yes. That's what people were afraid of with the savings tax, that if they can do it to Cyprus they can do it to any member. For a government to tell you how much of your own money you could have at a given time is ludicrous. It also anchors the people there from leaving because their capital would literally be held hostage. That will ruin Cyprus and the image of the EZ before it helps if it ever does


It kills me when Draghi and those blowhards say the worst of the crisis is over and Europe is fixed, but every three months something goes...
Why on earth do you limit this with Cyprus or EU only...?
  • #776,254
  • Mar 21, 2013 11:23pm Mar 21, 2013 11:23pm
Quoting math_GB
Is is not only Cyprus, this is damaging confidence everywhere...! I mean everywhere...!
Oh, I know. I mentioned that with Jay. If they can do it to Cyprus, why not Spain or even the UK. People from the outside do not want to do business with that mess. I guarantee the FDI will drop a good deal.
When the facts change I change my mind, what do you do sir
  • #776,255
  • Mar 21, 2013 11:24pm Mar 21, 2013 11:24pm
Quoting 2+2=4ex
Thinking about opening a savings account in Cyprus. Does anyone have any advice or reviews on their banks?
You can open one in North Cyprus, 100 times safer How are you dude? Everything well I hope...
  • #776,256
  • Mar 21, 2013 11:24pm Mar 21, 2013 11:24pm
Quoting math_GB
Why on earth do you limit this with Cyprus or EU only...?
I never said a limit, but I am mentioning what is going on now. It could virtually happen anywhere, but Cyprus is in the scope.
When the facts change I change my mind, what do you do sir
  • #776,257
  • Mar 21, 2013 11:24pm Mar 21, 2013 11:24pm
Quoting Pip Anon
Well, yes. That's what people were afraid of with the savings tax, that if they can do it to Cyprus they can do it to any member. For a government to tell you how much of your own money you could have at a given time is ludicrous. It also anchors the people there from leaving because their capital would literally be held hostage. That will ruin Cyprus and the image of the EZ before it helps if it ever does


It kills me when Draghi and those blowhards say the worst of the crisis is over and Europe is fixed, but every three months something goes...
You know they had to have thought about the implications. How bad really are things when they roll out this new plan? Hmmm.
  • #776,258
  • Mar 21, 2013 11:24pm Mar 21, 2013 11:24pm
Quoting math_GB
You can open one in North Cyprus, 100 times safer How are you dude? Everything well I hope...
Everything good. Hope all is well with ya also.
  • #776,259
  • Mar 21, 2013 11:25pm Mar 21, 2013 11:25pm
Quoting math_GB
I seriously wished I could know what EU's plan is, they scared the shite out of everyone... This is not a joke dude... Central bank approval for any fund's transfer...? What is next...? This all sounds like a gestapo camp... Don't like even discussing such topivs at all...
Firstly, to remember that the Euro has never been nor will it ever be a economics project. If it was, it would have been tossed long ago when Ireland had some hiccups of definitely when Greece did.

The Euro is a political project. The elite aren't looking at a 5-10 year horizon like we do. They look at much longer term. In 20 or so years, teenyboppers will have no idea about this. Teenagers today don't remember 9/11 because they were too young. We do get old fast. But I digress.

The people pulling the strings have two choices. Let the Euro crash or not and the cost of letting it crash, financially and politically is greater than the cost of taping it up and keeping it together in hopes that it heals.

So to sum up, Germany will pay up. But Merkel is heading into an election and her position is already weak. She can't do a repeat of Greece because she will certainly lose her election if she does.

The whole thing could just be a stalling ploy to delay things as long as possible. I'm certain that after the German election, a solution will be found.

Meanwhile, they'll stall.

This will be a very profitable spring and summer for those placing the right trades. Those who don't will wish they were never born.
Not all sins are created equal
  • #776,260
  • Mar 21, 2013 11:28pm Mar 21, 2013 11:28pm
Quoting 2+2=4ex
Everything good. Hope all is well with ya also.
Yeah surviving in the Forex jungle, all good here...
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