Posted on 03/20/2013 9:22:24 AM PDT by george76
Cypriot leaders held crisis talks on Wednesday to avert financial meltdown after rejecting the terms of a controversial European Union bailout, turning instead to Russia for help.
Banks on the Mediterranean island may never reopen, Germany warned after lawmakers late Tuesday turned down a $12.9 billion deal that would have seen Cypriots lose up to 10 per cent of their bank deposits.
Thousands of Cypriots withdrew savings over the weekend fearing the deal might pass, emptying ATMs and sending global money markets into a steep dive.
Banks were ordered to remain closed after finance officials predicted a run on savings and a huge outflow of capital if they were to reopen.
...
Russian citizens account for the majority of the billions of euros held in Cypriot banks by foreign depositors.
(Excerpt) Read more at worldnews.nbcnews.com ...
So, what would you do the instant your bank re-opened?
Yeah, me too.
I’d love to change the world
Everywhere is freaks and hairies
Dykes and fairies, tell me where is sanity
Tax the rich, feed the poor
Till there are no rich no more
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
Population keeps on breeding
Nation bleeding, still more feeding economy
Life is funny, skies are sunny
Bees make honey, who needs money, monopoly
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
World pollution, there’s no solution
Institution, electrocution
Just black and white, rich or poor
Them and us, stop the war
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
Songwriter: Alvin Lee
Performed by: Ten Years After
If my bank closed with my money in it and never re-opened...
I think I’ll stop here.
Banks closed. That means they have confiscated Cypriots’ money. The banks have the money. The citizens don’t and can’t. Sounds like theft to me.
So the Cypriots citizens got their money out but the Russians??? Ohhh Myyy --
People need money to buy food, medicine, essentials. Atleast let them go to an ATM and pull out a minimum amount per day. If someone’s kid died because they cannot access money and get the pills, shit will hit the fan. Worst if stores cannot access credit to pay for goods, supermarkets, drugstores, etc etc will shut down. You are talking about armed revolt.
Cyprus Banks To Reopen Next Tuesday At Earliest
“Comments apply to the internationally recognized Greek portion of the island) Cyprus has strict gun control. Private citizens are completely forbidden from owning handguns and rifles in any calber, even .22 rimfire. Only shotguns are allowed, and these require a license. Shotguns are limited to two rounds. The only shotguns typically sold in stores are double-barreled side-by-sides or over-unders. Pump actions and semiautomatics are prohibited. A private citizen can own a total of ten different shotguns. A citizen is not required to specify a reason for ownership to obtain a license, but most own their guns for hunting. Licenses are issued by provincial police. A gun license is required to buy ammunition, and ammunition sales are recorded. A shotgun owner may purchase up to 250 shells at one time. Cyprus also controls airguns, and airgun owners require a license.”
And this is why the banks will get away with stealing everyone’s money.
Cyprus banks to stay closed until Tuesday: Central Bank
Published on Mar 21, 2013
1:13 AM
NICOSIA (AFP) - Banks in debt-hit Cyprus will stay closed until at least Tuesday, a Central Bank official said, after the authority issued a decree stating banks will not open their doors on Thursday and Friday.
With Monday a scheduled bank holiday, the official said there was no prospect of banking resuming before Tuesday.
Cyprus banks have now been closed since Saturday to prevent a run on accounts after the government clinched a deal for a bailout that slapped a one-time levy of up to 9.9 per cent on bank deposits.
The measure was rejected by parliament on Tuesday, plunging the island into a fresh economic crisis.
http://www.cnbc.com/id/100571290
Cyprus Considers Money Lockdown, Russia Aid
Published: Wednesday, 20 Mar 2013 | 1:10 PM ET
By: Holly Ellyatt
Assistant News Editor, CNBC.com
Cypriot banks will remain closed at least until Tuesday as negotiations between the country and Russia over financial assistance continue in Moscow.
My former student in Famagusta heard accurately, when she told me last night that Cypriot banks would stay closed until the 26th. She works in the banking industry.
This morning on Squawk Box, Joe Kernan said he wished he could have been in the room when whoever it was came up with the “haircut” idea. That’s who he wants to interview, he said.
LOL!
An understandable sentiment.
I imagine the first question would be, “WTF were you thinking?!!”
http://blogs.wsj.com/marketbeat/2013/03/20/is-the-euro-a-currency-or-a-prison/
March 20, 2013, 11:14 AM ET
Is The Euro a Currency or a Prison?
ByVincent Cignarella
Wearing the disguise of austerity, the euro has emerged as the gatekeeper of what is fast becoming a debtors’ prison.
The Troika of the ECB, IMF and European Commission acting in concert have become more like another Troika–of judge, jury and executioner–for any nation within the euro zone that dares not follow the letter of budgetary imposition.
The latest country bound by these handcuffs: Cyprus.
Like Lords of old, they gallop into town and demand of the serfs a levy on their lands, in this case deposits so they may remain within the realm and suffer the protection of the single currency regardless of the cost in pain and human suffering.
snip
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