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]
Why on earth would you be on the side of Russia in any bailout deal having to do with Cyprus? They aren't the good guys here, they are simply looking to take advantage of the idiocy of voters in Cyprus who have elected bad governments for a very long time. The public sector in Cyprus is out of control, yet the people (through their elected governments) do not want to cut spending.
Europe has a voter problem (and that includes little Cyprus). These governments didn't get into power by themselves. People are voting for politicians and parties that run up huge debts. Creditors simply enable and then take advantage of them. Neither "banksters", globalists, Jews, or any other conspiratorial evil are the problem. The people are the problem. To the extent that Germany takes advantage of any of this issues is only possible because Europeans keep voting for governments that spend far more than they have.
Okay never mind it was one of the empire
OH well LOL!
There are times when rioting in the streets is justified.
Yes, the withholding scheme allowed the government to bleed dry its nascent sharecroppers.
President BO inadvertently caused people to focus on that little trick when he allowed the payroll withholding to go up - it could prove to be his Waterloo.
Back in 98 when Lehrman and Bears Sterns exploded with a few banks right behind them till the camoflauge makers at the FED came in to prop them up with our money, I was certain there was going to be a bank holiday and pulled some cash out of the bank. I think I was a few years early and a few K too light on my ideas. Heading out tomorrow early to get my hands on what is left before it is gone too. Turn it around into hard assets as quick as I can too. The clock is ticking down to midnight on REV2...tick tick tick.
Like the rifle that’s hung over the mantel in Act I, the idea is in play now.
Sometime before the final curtain that rifle will be fired.
The piece of shit transvestite LaGarde and the IMF and the New World Order scum bag bankers got a set back.
Next time they won’t give the citizenry a chance to mobilize.
Evolution of Federal Income Tax Withholding - The Machinery of Institutional Change
by Charlotte Twight
Cyprus is divided between two NATO countries- so which NATO country- Greece or Turkey- is gonna build a Russian navy base?
What would NATO do about it?
Because I’m against Germany’s designs on smaller European countries?
the haircut being rejected, now the German barber will keep his money and not make additional loans to subsidize the Cypriots
Actually Cyprus is an independent country and NOT a part of NATO.
If there were two historic empires I could’ve visited, it would’ve been the Russian Empire and the Ottoman Empire. With the Russians, during the reign of Peter the Great, and with the Ottomans, Suleiman the Magnificent. The zenith of both empires, and I have no doubt it would’ve been fascinating.
In regards to Cyprus, I think they’re gambling that Russia will offer them a better deal but as with any deal, the devil’s in the details. I’d be wary of making a deal with the Russians - or the Turks for that matter - as any deal you strike with both of them would benefit them enormously, and you......not so much.
Most likely, the Cypriots will be back in front of the EU in a week, begging bowl in hand, especially once Bank of Cyprus and Laika Bank are declared insolvent.
That should happen about 20 minutes after they open.
It will be interesting to see what Russia offers, especially once they think Assad is toast, and their base at Tartus, is in jeopardy.
That would be highly interesting.
If the Cypriots miscalculated on this, and the Russians don’t step up - for whatever reason - I see them frantically flying to Brussels, and hoping that the deal is still on the table.
I doubt they or the rest of the NATO alliance would countenance a Russian base on a NATO member's soil
There is no strategic sense at all to that for anyone
NATO membership is looking pretty useful to Turkey about now, given the deterioration of Syria and Iran's future ICBMs
Now, a deal between Cyprus and Russia for the sale ...... err, “development” .... of Cyprus’ supposed offshore natural gas fields - is potential Russian domination of the Central Med by another means
yeah they are independent of Turkey and Greece- right
But very few countries actually recognize Turkish claims on the island. I would be surprised if NATO would, seeing as how Greece, in particular wouldn’t care for it.
Greece, yes. And nobody recognizes “North Cyprus”, other than the Turks.