Skip to comments.Cyprus parliament rejects haircut bill
Posted on 03/19/2013 11:40:40 AM PDT by abb
Cyprus parliament rejects haircut bill
The Cypriot House of Representatives rejected overwhelmingly on Tuesday the bill that would have inflicted a haircut on bank accounts.
There were 36 No votes and not a single Yes vote, as the 19 deputies of ruling Democratic Rally (DISY) who were present abstained, while another one of them was absent.
Cyprus speaker Yiannakis Omirou urged MPs to say «no to blackmail» as angry crowds also called for a «No» vote outside Parliament and held up signs warning that other financially crippled European nations like Italy and Spain could be next in line.
"There can only be one answer: no to blackmail,» Omirou, of the socialist EDEK party told deputies who met in emergency session.
"Our demand must be that this deal must be renegotiated. If we pass this tax there will be no foreign investor who will keep their money here,» he warned.
"There is no doubt, this is the most crucial session of our parliament. There is unrest among the people and they deserve an answer,» EDEK MP George Varnavas told the assembly.
DISY had unanimously decided not to take part in the vote because «it will strengthen the bargaining position of the Republic of Cyprus,» party member Nicos Tornaritis told Sigma TV.
But DISY coalition partner Marios Karoyian of DIKO said the rescue package must be «rejected».
"This is blackmail and DIKO proposes the bill is rejected, but yes to an adjustment programme... We want a European rescue, not European destruction,» he told fellow MPs.
George Perdikes of the Green party told parliament: «There is now a creditocracy where countries lose their sovereignty for an illegal loan agreement that is supposedly good for them but kills growth."
European Party MP Demetris Syllouris charged that the bailout terms were designed to destroy the banking sector in Cyprus that had been flourishing for decades, and especially hit Russian investments.
"Our lenders came not to support us, they wanted to annihilate the pillar of our economy which is the service sector ... They (Germany) must find another way to resolve their differences with Russia,» he said.
Many Cypriots blame Germany for leading the crippling demands imposed in return for the bailout, in a bid to punish Russia, where investors have placed vast amounts of cash in the island's banks.
"Why are the foreigners to blame, we won't accept it, we would rather take the hit 100 percent on our wages and pensions rather than on those who supported us,» said Syllouris.
Thousands of protesters lined the streets leading to the parliament building in Nicosia, many of them waving Russian flags, an AFP reporter said.
They held up banners that read «Hands off Cyprus» and the crowds chanted: «It will not pass,» referring to the rescue package.
Many also carried signs written in Italian and in Spanish saying that both financially-crippled countries could be next in line to face a similar painful rescue deal.
«Today it's me. Tomorrow it's you,» the signs read.
[Kathimerini English Edition & AFP]
They got caught by Twitter! The new media prevents a midnight coup. Like our roaches in Washington, if people find out how they are selling us out soon enough to turn on the lights, they scurry for the dark corners.
Lets remember this and turn on the lights in the legislative houses across the country.
But so many even on this forum are in favor of the Russians. Wierd.
Actually, Cyprus was never under the Russian Empire.
You might be thinking of the Ottoman Empire.
Seems like the Bear is waking from out of hibernation....
Russian Frigates to Get Advanced Missile Systems
Anti-Muslim policies? Really? Putin?
The man who wants to cement Russia’s relations with the Islamic world?
Traditions of Islam are based on eternal values of kindness, mercifulness and justice. Millions of people in our country practice this ancient religion.
That Vladimir Putin? The one who said that “Islam is an inseparable part of Russia’s society and culture.”
That Vladimir Putin?
Always remember, Russia is never what she seems to be.
Churchill said it himself, “It is a riddle, wrapped in a mystery, inside an enigma”, and that has not changed.
That’s always true. After all, Russian politics have long been described as Byzantine.
I know that Cypriots are hoping that Russia rides to the rescue. But my question is, what if Russia doesn’t?
To whom will the Cypriots turn at that point, begging bowl in hand?
Probably not; the way it works here is that the government only resigns if defeated on a “confidence” issue. Since the bill was not supported by the government (their members abstained from the vote), its defeat was not a vote against the government.
“But so many even on this forum are in favor of the Russians. Wierd.”
Not so weird, really. I personally admire Mr. Putin for protecting the interests of his people while the current administration here is willing to sell us out on topics like missile defense that are crucial to our very survival.
I also look at Syria and wonder what the hell Obama is trying to do by involving us ever deeper into yet another war in the Middle East?
Sad to say, but I trust the Russian government far more than I trust my own these days. You don’t hear of Russians giving rubber glove inspections to little kids, the elderly, and crippled veterans at THEIR airports, do you?
Things are not nearly as cut and dried as they were during The Cold War.
That there was an instant pushback against government seizure of property (aka taxes) is very significant. It is because of the nakedness of Cyprus’ action.
Imagine what would happen here in the US if all taxpayers had to write a check monthly payable to the IRS, instead of having the payment hidden in the withholding portion of their paychecks.
Of course, the British have naval bases on Cyprus, not at the pleasure of the Cypriots, but of their own.
The "ex"-KGB agent who stole the election and continues on as Dictator is protecting his people? Don't think so.
No need to ask. Offered yesterday (direct quote)
“Stupid move to announce the wealth confiscation before making sure the law would be a done deal.”
The. wealth. confiscation. (You know. From those b*st*rds, The Rich. “Rich” being *anyone* who isn’t on the dole)
401Ks, IRAs, Bernanke talking about Social Security “because that’s where the money is” a few years ago, etc... uhhh H’lo?
There’s one thing that keeps going through my mind: the banks (in cahoots with their good buddies in Washington) can do whatever they damn well please with our money & there’s not a thing we can do about it.
I’m afraid we’re kidding ourselves if we think that being armed to the teeth can recover whatever they decide to steal.
they are doing it now.
loans to the unqualified are extracting savings.
As does inflation.
We may not be able to recover it,
but they won’t be able to enjoy it from their
vantage point of dangling from a lamppost.
And here I was under the impression he didn’t put up with their expansionist jihad ways.
There are so many ways our states and feds can $crew us.
In California, the left wingers in control of the capitol are trying to enforce back taxes on tech start up investors.
Not only are they after the so called back taxes, they want penalties for late payments for past refunds:
“Engineers and hackers don’t think much about tax policy, but there’s a bizarre development in California that they should know about, since it could reduce the pool of angel-investment money available for tech startups. Under a tax break available since the 1990s, startup founders and other investors in California were allowed to exclude or defer their gains when they sold stock in California-based small businesses. Last year, a California appeals court ruled that the tax break was unconstitutional, since it discriminated against investors in out-of-state companies. Now the Franchise Tax Board, California’s version of the IRS, has issued a notice saying how it intends to implement the ruling and it’s a doozie. Not only is the tax break gone, but anyone who claimed an exclusion or deferral on the sale of small-business stock since 2008 is about to get a big retroactive tax bill. Investors, entrepreneurs, and even the plaintiffs in the original lawsuit are up in arms about the FTB’s notice, saying that it goes beyond the court’s intent and that it will drive investors out of the state. This Xconomy article takes an in-depth look at the history of the court case, the FTB’s ruling, and the reaction in the technology and investing communities.”
He puts with it up when it serves Russia’s purposes, and sometimes it does. Classic realpolitik. No one has “friends”.....they have interests.
But I wouldn’t call Putin “anti-Muslim”. Perhaps “anti-Salafist” might be a better way of stating it.
As far as Islam growing as a religion in Russia, he seems to have no overt problem with that in and of itself. His hackles are raised when it’s the more extreme interpretations of Islam. Like the aforementioned Salafists.