Cyprus rejects demands

Sir Oxman

Just in - looks like they don't want to join the good little pupils club, population 1.

I wonder how long it will be before a technocrat is imposed to guide them in the correct direction.

Viva Kyprios!

http://www.bbc.co.uk/news/world-europe-21842966

Steve O

Glad this hasn't went through, it would set one of the most ridiculous and dangerous precedents the banking system has ever seen.

Ilik Urgee

Did the British Military fly €1 million in cash to their troops in case they wanted to withdraw funds? Or did I pick that bit up wrong?

mickdw

Steve O wrote: »

Glad this hasn't went through, it would set one of the most ridiculous and dangerous precedents the banking system has ever seen.

Now how do they stop a run on the banks? People will still have zero faith in the system. Im guessing they will have to lock down the banks by this weekend.

smash

I honestly can't wait to see the house of cards that is the European banking system start to fall apart.

Nate--IRL--

smash wrote: »

I honestly can't wait to see the house of cards that is the European banking system start to fall apart.

Your ignorance is astounding.

Nate

Nika Bolokov

Shame on Ireland.

The cowardice of our leaders has sold the next generation into debt slavery.

I never thought I would write two sentences like that in my life but the past 4 years have totally changed my perspective.

Fair play to Cyprus, they have some bottle.

Nika Bolokov

Nate--IRL-- wrote: »

Your ignorance is astounding.

Nate

Irony anyone ?

SEPT 23 1989

I expect a swift and brutal response from Herr Merkel

smash

Nate--IRL-- wrote: »

Your ignorance is astounding.

Nate

Thank you Nate, your input is appreciated. I'll file it under the category of 'I don't give a fcuk'

Mint Sauce

Ilik Urgee wrote: »

Did the British Military fly €1 million in cash to their troops in case they wanted to withdraw funds? Or did I pick that bit up wrong?

I heard the same on BBC radio a few hours ago.

emo72

Yah! You ****ing show them Cyprus! I really want to watch the world burn. Failing that, every bank and financial institution. Burn ****ers.

Edit.....yes i realize the cypriot government really wanted to protect the ruski depositors and screw their own people. But who knows what the truth is here. Theyre all slinging **** at each other.

Sir Oxman

Steve O wrote: »

Glad this hasn't went through, it would set one of the most ridiculous and dangerous precedents the banking system has ever seen.

The genie may be squeezing out of that particular bottle now.

Amalgam

Why all the bile towards the EU, the main push of naked decrepid ****ehawkery was coming from the Cypriot government, who wanted to ringfence all that, ahem.. whiter than white, 'honest' Russian billions stashed in the banking system, and instead, piss on their citizens.

Chucky the tree

The lack of knowledge floating around this thread is almost surprising, then I realise it's AH.

Sir Oxman

Ilik Urgee wrote: »

Did the British Military fly €1 million in cash to their troops in case they wanted to withdraw funds? Or did I pick that bit up wrong?

Yep, banks are still in lockdown till thursday - I'd say they'll be closed a bit longer now or hobbled to fúck.

Three Seasons

smash wrote: »

Thank you Nate, your input is appreciated. I'll file it under the category of 'I don't give a fcuk'

Any more childish comments for us.

Nika Bolokov

Chucky the tree wrote: »

The lack of knowledge floating around this thread is almost surprising, then I realise it's AH.

Please enlighten us oh wise one

smash

Three Seasons wrote: »

Any more childish comments for us.

Loads. How much time have you got?

megafan

Amalgam wrote: »

Why all the bile towards the EU... QUOTE]



Well If it continues on the path it's on it'll be one of the least democratic organizations in the world with unelected officials running the show with little regard for the welfare of it's citizens......:mad:

Chucky the tree

Nika Bolokov wrote: »

Please enlighten us oh wise one

Why congratulate the Cyprus Government and knock the EU? The Cyprus Government are the ones who wanted the depositors under €100k to take a hit.

Three Seasons

Should be interesting when the ATMs run out of money.

Kinski

Tbf, larger countries with bigger economies than ours can afford to play hardball, we can't. We're a small open economy, not like mighty Cyprus.

Steve O

Chucky the tree wrote: »

The lack of knowledge floating around this thread is almost surprising, then I realise it's AH.

The lack of clarity to your generalisations is almost surprising.

Chucky the tree

Steve O wrote: »

The lack of clarity to your generalisations is almost surprising.

It should be fairly clear to people who know what they are talking about.

wishwashwoo

The guy on sky news was right Germany lost the last 2 wars now there conducting a Third World War with the economy they need to be put back in there box and quick.

3ndahalfof6

Time to find the flint deposits, it looks like this will be the commodity of the future, the folks who decided to prepare for the worst (while they were laughed at) will be the future rabbitaires.

Steve O

Chucky the tree wrote: »

It should be fairly clear to people who know what they are talking about.

Not really, pretend knowledge is worse than none.

wishwashwoo

At least the people in Cyprus are on the streets fighting this what did we the Irish people do sit on our arses and take in up the ass we should be ashamed of our selfs here in Ireland we are Germany's puppets
GO ON THE CYPRUS TAKE NO ****
FIGHT FIGHT FIGHT

Chucky the tree

Steve O wrote: »

Not really, pretend knowledge is worse than none.

Don't pretend then.

Amalgam

megafan wrote: »

Amalgam wrote: »

Why all the bile towards the EU... QUOTE]



Well If it continues on the path it's on it'll be one of the least democratic organizations in the world with unelected officials running the show with little regard for the welfare of it's citizens......:mad:

I meant in the context of the Cypriot Government's own behaviour. The EU wanted money taken, without condition, from the system, whereas the Cypriots wanted to protect Russian interests by only targeting the average citizen and saver.

Nothing nice or democratic about that.

This has only been rejected because the politicians wouldn't have survived to the end of the month.

Cypriots are a lively bunch, they would have kicked up about it, unlike ourselves..

Steve O

Chucky the tree wrote: »

Don't pretend then.

Here is a little hint to stop you further embarrassing yourself, they are European union bailout terms. Now that they have been rejected, there are talks of "more flexible terms".

Now kindly **** off.

Chucky the tree

Steve O wrote: »

Here is a little hint to stop you further embarrassing yourself, they are European union bailout terms. Now that they have been rejected, there are talks of "more flexible terms".

Now kindly **** off.

And they were negotiated with Cyprus. As I said, some people are just clueless.

Death and Taxes

wishwashwoo wrote: »

At least the people in Cyprus are on the streets fighting this what did we the Irish people do sit on our arses and take in up the ass we should be ashamed of our selfs here in Ireland we are Germany's puppets
GO ON THE CYPRUS TAKE NO ****
FIGHT FIGHT FIGHT

And next week when they are bankrupt and their is money in the ATM's what will they do?
Cyprus wants other peoples money, there is always a price to pay for that.

heartseeker

It is my strong belief as somebody that has been tracking financial markets and European politics for many years working within the industry that what we are now witnessing is the beginning of the end for the euro single currency.This is exactly what happened in the US that triggered the last crisis with the collapse of Lehman brothers and Fanny Mae.People up the top tried to laugh off and downplay the significance of ripling instability with the "too big to fail" mindset been driven into the minds of the people who had lost all confidence in the system.RTE yesterday initially had the audacity to spin a positive yarn about how the Cyprus situation could have a positive effect on the Irish debt situation before quickly retracting this slant on news reports today when they realised that everyone in the country had more revealing BBC coverage of the events severity thanks largely to the digital switchover which they rolled out last year.What's happening in Cyprus is unprecedented and whatever sticking plaster solution that is put together there tomorrow or next day is simply gonna be too little too late.Brace yourself for the unexpected folks as this is gonna be a bumpy ride as the writing is on the wall.If/When the Cypriot Banking System collapses on Thursday we could be facing into the unknown again with a domino effect of European banks falling rapidly and struggling to survive.I for one have decided to remove any monies from euro deposit accounts until this crisis has passed.Although make your own minds up but proceed with careful care and consideration

Phoebas

Steve O wrote: »

Here is a little hint to stop you further embarrassing yourself, they are European union bailout terms. Now that they have been rejected, there are talks of "more flexible terms".

Now kindly **** off.

The Cypriot side wanted to protect Russian depositors at the expense of Cypriot savers and the EU side wanted more of the burden put on the large foreign depositors.

The Cypriots have now rejected the terms they themselves negotiated, but its not clear what changes they intend to come back with. The EU are the 'good guys' in this story, but I suppose dumping on them is an easy way for Cypriot politicians to cover their own behinds. There is no shortage of people who will buy into the 'EU / German bullies are screwing us' narrative.

JustAddWater

heartseeker wrote: »

It is my strong belief as somebody that has been tracking financial markets and European politics for many years working within the industry that what we are now witnessing is the beginning of the end for the euro single currency.This is exactly what happened in the US that triggered the last crisis with the collapse of Lehman brothers and Fanny Mae.People up the top tried to laugh off and downplay the significance of ripling instability with the "too big to fail" mindset been driven into the minds of the people who had lost all confidence in the system.RTE yesterday initially had the audacity to spin a positive yarn about how the Cyprus situation could have a positive effect on the Irish debt situation before quickly retracting this slant on news reports today when they realised that everyone in the country had more revealing BBC coverage of the events severity thanks largely to the digital switchover which they rolled out last year.What's happening in Cyprus is unprecedented and whatever sticking plaster solution that is put together there tomorrow or next day is simply gonna be too little too late.Brace yourself for the unexpected folks as this is gonna be a bumpy ride as the writing is on the wall.If/When the Cypriot Banking System collapses on Thursday we could be facing into the unknown again with a domino effect of European banks falling rapidly and struggling to survive.I for one have decided to remove any monies from euro deposit accounts until this crisis has passed.Although make your own minds up but proceed with careful care and consideration

Run to da hills, is that you?

CT

---

>

[sarcasm]
Let me guess, WW3 is coming and because we all said yes to Lisbon, our first born belongs to the new EU army and we'll all be conscripted and shipped off soon
[/sarcasm]

It is my strong belief you have no idea, like the rest of us

That said, i'm glad this was rejected, far too dangerous a precedent. Private debt should never become public. Glad to see some bondholders at least take some of the pain by cyprus. Unfortunately you have to take the bad with the good, can't have it all good. It's called a gamble for a reason

Gatling

Sounds like The new Call of Duty game

omahaid

heartseeker wrote: »

I for one have decided to remove any monies from euro deposit accounts until this crisis has passed.Although make your own minds up but proceed with careful care and consideration

I have moved my glass full of 10c/20c coins from the kitchen window to my bedroom window for better protection.

Truncheon Rouge

Why do the Germans seem to catch a lot of shyt in this story.

Personally I don't see any truth in this 'theyre trying to take us over again' stuff.

What do they have to do with whats goin on in Cyprus?

hatrickpatrick

mickdw wrote: »

Now how do they stop a run on the banks? People will still have zero faith in the system. Im guessing they will have to lock down the banks by this weekend.

I seriously hope there is a run.
The sooner this thing melts down, the sooner we design a new, better monetary system instead of desperately trying to plug gaping holes in the current, totally unsustainable setup we have today.

Phoebas

Truncheon Rouge wrote: »

What do they have to do with whats goin on in Cyprus?

The Germans are putting their credit rating on the line and taking the abuse.
If I was a German, I'd be tempted to tell the Cypriots where to shove their bailout application form.

kevin65

OK, here goes, I'm probably going to make a tool of myself by asking this.

Is it not the case that the Cypriot banking crisis is due to the Greek financial crisis which was due to the lack of due diligence on the part of the EU when vetting countries criteria for joining the single currency? So, in effect, the EU f*cked up in the first place, but as usual are applying punitive terms on countries for bailout funds even though the bailouts are to help prop up the single currency?

There, I did it.

clairefontaine

Phoebas wrote: »

The Germans are putting their credit rating on the line and taking the abuse.
If I was a German, I'd be tempted to tell the Cypriots where to shove their bailout application form.

The Russians offerred the Cypriots a bailout in exchange for right to their natural gas.

I don't think Merkal wants the Cypriots to be tempted by such an offer.

kevin65

clairefontaine wrote: »

The Russians offerred the Cypriots a bailout in exchange for right to their natural gas.

I don't think Merkal wants the Cypriots to be tempted by such an offer.

Then she needs to make them a decent offer.

Phoebas

kevin65 wrote: »

OK, here goes, I'm probably going to make a tool of myself by asking this.

Is it not the case that the Cypriot banking crisis is due to the Greek financial crisis which was due to the lack of due diligence on the part of the EU when vetting countries criteria for joining the single currency? So, in effect, the EU f*cked up in the first place, but as usual are applying punitive terms on countries for bailout funds even though the bailouts are to help prop up the single currency?

There, I did it.

The Cypriot banking system is in a hole because of overexposure to the Greek economy and because they allowed their banks to get too big by taking in far too much in deposits (many dodgy) from Russia. The Cypriots are primarily responsible for their own problems, but the EU are obviously willing to help them out.

The terms are directly related to the size of the bailout and the prospect of them being able to repay it - it doesn't make any sense to loan them money that they can't possibly repay - hence the requirement that they raise some of their own money from their own banks.

Chucky the tree

kevin65 wrote: »

Then she needs to make them a decent offer.

I'd have considered no taxes on deposits under €100k a decent offer.

heartseeker

JustAddWater wrote: »

Run to da hills, is that you?

CT

---

>

[sarcasm]
Let me guess, WW3 is coming and because we all said yes to Lisbon, our first born belongs to the new EU army and we'll all be conscripted and shipped off soon
[/sarcasm]

It is my strong belief you have no idea, like the rest of us

That said, i'm glad this was rejected, far too dangerous a precedent. Private debt should never become public. Glad to see some bondholders at least take some of the pain by cyprus. Unfortunately you have to take the bad with the good, can't have it all good. It's called a gamble for a reason

Enda is that you?are you back in the country yet or have you headed straight to Cyprus to stop the rot!!!
Yeah I must be a conspiracy theorist for believing whats in front of our own eyes.Anybody that can't see the similarities between the US crash and whats going on here in Europe now is either unconcious or heavily anaethezised.Your trivializing of such serious issues with ridiculous nonsensical assertions about "EU armies" and "world wars" are devoid of any rationale,logic or critical thinking.People that shamefully distract others from the realities in front of them are the reason they are left screwed over and failed to act to protect their financial interests until it was too late.

smash

Chucky the tree wrote: »

I'd have considered no taxes on deposits under €100k a decent offer.

That is not an offer, it's theft to just pull money from people's savings!

Phoebas

clairefontaine wrote: »

The Russians offerred the Cypriots a bailout in exchange for right to their natural gas.

I don't think Merkal wants the Cypriots to be tempted by such an offer.

I'm sure the Russians have Cyprus' best interests at heart - haven't they been very sweet to them up to now pumping billions on their 'hard earned' euros into the Cypriot banking system!

Chucky the tree

smash wrote: »

That is not an offer, it's theft to just pull money from people's savings!

Then they should be happy to let the banks fail.