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]
It’s not an EFFIN’ “haircut”. It is despotic theft. And similar actions are forthcoming until there is serious resistance that *forces* it to stop.
This is why the framers of the Constitution included the 2nd amendment.
well, since the Brits have a base on the southern end of Cyprus with 3000 troops stationed, I would guess you strategists would expect Russia to build its conjectured “military base” in the Turkish enclave
Like this all fits together
all Russia has wanted from Cyprus is a “safe” place for the new money (old KGB and mafia) to park its money. I doubt the conjecture the Russians are manuevering the EU/Germans into changing the terms of their offshore banking arrangement. If Putin knew this was coming, the Russian money in Cyprus banks would have been gone last week
There’s a Russian presence in the TRNC, albeit a civilian one. The Turks there grumble about “Russian gangsters and their Natasha’s” or “Russian mafiosi and their peroxide molls.”
I don’t think Putin knew this was coming, or as you said, the money would’ve been gone sometime last week. There were rumors last week, however, that something like this was in the works, so it’s possible some far-sighted Russians got their money out of their and moved it to London, Frankfurt, etc.
>>>The “ex”-KGB agent who stole the election and continues on as Dictator is protecting his people?<<<
I know you said this of Putin but there’s some people who would say exactly the same thing about Obama.
A little bird just whispered into my ear that all banks are to remain closed until Tuesday, March 26th.
Little bird being a friend/former student in Famagusta, TRNC who works in the banking sector.
She’s heard it through the financial grapevine, but she cannot guarantee its accuracy.
It was both. And let’s forget the Venetian Empire as well.
And the Roman Empire and the Byzantines as well.
Busy little island. :)
Oops. Make that “let’s not forget the Venetian Empire”, though they were rather forgettable.
Yes left wing politicians do not inspire confidence in the electoral process...both are scum.
The problem is much more with the voters in Cyprus, along with the rest of the smaller European countries, than it is with whatever utopian (and self serving) fantasies the Germans may have about the EU.
This is a simple people problem, it's not some nefarious conspiracy. People are electing/supporting big social welfare government and they are going broke and being taken advantage of by creditors. Simple as that. If Cyprus hadn't run up a huge debt from financing a massive public sector, they wouldn't be going to Germany begging for handouts. It's no different from a person who runs up high credit card debt and turns to shady creditors avoid going bust (but only delaying the inevitable).
Not to mention:
the ancient Egyptians
the Greeks and Macedonians under Alexander
Richard the Lionheart of England
the Knights Templar
the French under Guy de Lusignan
and Genova.
I would think Putin would also be interested in developing the natural gas reserves in the area. Cyprus would put the Russians pretty close to the large gas fields the Israeli's have next door
That gas field is why I suspect the Russians and the Israelis are about to become bosom buddies.
Good. Tell the Eurocrats to go hang themselves.
LOL. The crossroads of empires.
It is what makes Cyprus such an interesting place to visit. We’re talking history going way, waaaaay back.
And the weather and the people. Though I would say on the Northern side, the Turkish Cypriots are a damned sight more agreeable than the “settlers”, most of whom are a rather sullen lot.
Well, that’s true. lol I’m ready to do that now (or at least escorting them out, tar & feathers optional).
ouch, that’s got to leave a mark on people who need cash!
An interesting lesson for us to be prepared, sad times for the people of Cyprus :-(
They’re blaming the Eurozone in a political ploy to deflect responsibility.
Has anyone said definitively when the banks will reopen? Or if they will?
When we gave Cyprus its independence in 1960, we kept two bases:
http://en.wikipedia.org/wiki/British_Cyprus_Bases
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.