Cyprus crisis deepens: Bailout rejected, BANKS MAY NOT REOPEN!!!

reply to post by SeekerofTruth101


If the EU had not forgotten that the money earned and saved by private individuals did not belong to them, then all of this weeks panic would have been avoided. We would have been at the point we are at now with state assets being used etc, a week a go.

Another thing that I am wondering about is why when the EU told Greece it could default on a large part of its debt the knock on effect on a tiny economy like Cyprus was not taken into account? Surely it would have been prudent for the EU to have offered assistance then, rather than the eleventh hour asset grab that is taking place today. But I suppose that it does make sense if your aim is to appropriate assets and create a vassal state at a knockdown price.

Overall I also consider the EU has the overarching enemy of the whole of Europe. Banks have been lending to banks for a very long time, good and bad has happened, but in Europe at least the world has continued to turn. Only now with the dark vision of Europe under the boot being made real, has the wheels fallen off the wagon. Europe never needed the Euro and even though it is ripping the economies of Europe apart, they will sacrifice everybody to keep it rolling.

When a nation's elected leaders had screwed up and bankrupted its economy, what happens?

It had happened in mankind's past before. Riots, chaos, and ultimately order - from either the toughest guy on the block or a rich and powerful monarch from the neighbouring countries.

There was NO such thing as bailouts to maintain stability. You screw up - you pay the price and become slaves forever.

That was than and today is now, a far more evolved and civilised world.

Today, it still does not mean you need not pay for your mistakes. Only that you will not become slaves. You are still a free citizen with rights under the national constitution. Everything remains the same as it was, but only a portion of your wealth will be needed to pay over a period of time to others whom had allowed you to remain a free person living in a free country to determine your own future.

You blame the EU, and some blame germany, but in truth, do you sing the national anthem of germany, speak their language, pledge allegience to them, surrender your vote to them, etc, etc??

You dont. So cut the BS.

Be thankful you are being bailed out if your country is wise - accept your responsibility as a citizen to co-fund your independence and economy to obtain a higher fund offered by your fellow brothers and sisters in Europe, so that you can rebuild your country and reform your economy, which had been mismanaged and misled by your demagogue leaders.

The other choice is to be bankrupt, to have no funds, sell off your national assets, criminally sell STOLEN pension funds ( which a horrified Germany flatly refused such a proposal), and let your fellow citizens suffer for years, and truly become slaves of wealthy others such as China and Russia which will parcel up your tiny island as their personal fiefdoms and laws.

If I was a german, I wondered why would I even bother to bail you out with my hard earned money austerity driven for a decade, more so when you had talked trashed about me and spat on my face.

Fortunately for you, I am not a german. The germans and fellow europeans have a far more compassion and empathy line for you than me by offering you that loan and a lesson on responsiblity. May you be humble and honor this debt to them. It is not without a limit.

reply to post by SeekerofTruth101


I have pulled this from Europa.eu concerning the Treaty of Rome;

“The establishment of the EEC and the creation of the Common Market had two objectives. The first was to transform the conditions of trade and manufacture on the territory of the Community. The second, more political, saw the EEC as a contribution towards the functional construction of a political Europe and constituted a step towards the closer unification of Europe.”

In the preamble, the signatories of the Treaty declare that:

"- determined to lay the foundations of an EVER CLOSER UNION among the peoples of Europe.”

You must remember that back in 1975 the British voted in a referendum in favour of joining the EEC. The ever closer political union part was obfuscated. Since then every referendum demanded by a new treaty has been rejected by the people of Europe. In Ireland the rejection led to another vote being called on the same issue, just worded better for them.

The European people are having their sovereignties dismantled beneath their feet and there has been nothing so far that they can do about it. Do you have any idea how many British died between the years of 1939 and 1945 to protect the integrity, both politically and geographically of the British people? Yet we find ourselves in a position where a group of people outside of the British political process have appropriated and are planning to further appropriate fundamental powers from the British people. They are not making you sing their anthem YET. But they are demanding your allegiance and your money and one day they might call on you to fight for their interests in war.

Anybody who appreciates democracy can see the undemocratic way the EU is operating. Without democracy there is slavery.

Has for the idea of saying thanks for the loan; it is the Euro that has caused the problem in the first place. It was and is a fundamentally flawed concept that will never work unless all in that group are fully integrated as one nation. That was their plan all along and everything they do is designed to further that goal.

I didn't choose to be a citizen of the United States of Europe, neither did anybody else I know.

Cyprus crisis: UK experts fly out to advise on bailout

Officials led by Treasury mandarin Tom Scholar visit island after Nicosia government accepts offer of 'technical assistance'

What's 'technical assistance'? Is that another way of saying 'cooking the books'?
www.guardian.co.uk...

Rainbows
Jane

reply to post by angelchemuel


It sounds ominous to say the least,

also

Cypus is reportedly considering a levy of 15% on all bank deposits over 100,000 euros as its attempt to secure a rescue for the economy.

The original terms of the EU bailout for Cyprus proposed by the troika of international lenders would have slapped a levy on all bank deposits - 6.75% on accounts holding up to 100,000 euros and 9.9% on those over that - in order to raise 5.8bn euros (£4.9bn).

www.guardian.co.uk...


Also less reliable source ( twitter )
also breaking news on bbc news :www.bbc.co.uk...

Cyprus Parliament Approves Capital
Controls,Solidarity Fund
Legislators debating another 7 laws,including one on reorganizing nation’s banks

From the BBC article linked above;

“Our correspondent says he has never seen this much pressure being applied to a member state by the rest of the eurozone community in recent years.”

“Eurozone partners are saying Cyprus has got to change its banking system, over-reliant on foreign depositors, and the money it needs has to come out of that system, one way or another, he adds.”

The idea that Cyprus is overly reliant on foreign depositors is strange to me. I work in Britain for a Dutch company, before that I worked for an American company. Don’t these people usually pontificate on the virtues of globalisation?

reply to post by Rob7774


Yeah, as long as it is jewish-american globalisation it is A-ok for european union and nato. If it is globalisation by anyone else then it is mafia orientated. Gotta hate the double standard hypocrisy! I for one think cyprus should drop out of the Euro currency and go back to the cypriot pound. Since a good portion of their income comes from russia then they should seek russian assistance or they can simply devalue their currency and seek no assistance at all.

I would rather have high inflation with sovereignty than no sovereignty with artificially low inflation. Soverienty comes first. Then perhaps italy, greece, spain, portugal, ireland can muster enough courage to do the same. If the northern europeans like the euro currency so much that they want to sacrifice their sovereignty then they can keep it. I also think the northern europeans, especially the germans, would be relieved of having to pay for PIIGS mismanaged socialism.

Then we will see what the PTB do next. I bet they are going to fold and fold hard. Exposed perpetually as fraudsters!

reply to post by SeekerofTruth101


Member states of the EU are no longer sovereign if they have to relinquish a good portion of their decision making to IMF-ECB-EU officials. The bankers supercede the local government in that they force/extort the governments to pass their own budgets with little regard to what is needed or desired by the locals. This is not democracy and thus voting itself becomes meaningless.

The only thing member states have left is their language and customs/traditions. But these eventually get eroded as well.

The EU and ECB was supposedly setup to tackle the USA, but since NATO is still alive and kicking 20 years after the collapse of the warsaw pact, the EU and NATO have become one and the same. I really dislike what has been happening.

Hehe this is odd

Russian Billionaire In Exile Boris Berezovsky Commits Suicide - The First Cyprus Casualty?

Just your ordinary run of the mill Russian billionaire oligarch in exile who had so much money he was terminally depressed... or just the opposite, and the first tragic casualty of the Cyprus capital controls which are about to eviscerate a whole lot of Russian wealth (and ultraluxury Manhattan real estate prices)?

www.zerohedge.com...

Nice find!
Still no word on how much and from who they are going to steal their 'funding' from.... think he might have been given a 'heads up'...oh, wait a minute...was it really suicide????
Rainbows
Jane

Originally posted by SeekerofTruth101

If I was a german, I wondered why would I even bother to bail you out with my hard earned money austerity driven for a decade, more so when you had talked trashed about me and spat on my face.

I read comments about the German tax payers bailout of out Europe, quite a lot. The Germans do charge interest on the loans they make and the article below gives a little more insight too...

Would it surprise you to know that Europe’s taxpayers have provided as much financial support to Germany as they have to Greece?

Let’s begin with the observation that irresponsible borrowers can’t exist without irresponsible lenders. Germany’s banks were Greece’s enablers. Thanks partly to lax regulation, German banks built up precarious exposures to Europe’s peripheral countries in the years before the crisis. By December 2009, according to the Bank for International Settlements, German banks had amassed claims of $704 billion on Greece, Ireland, Italy, Portugal and Spain, much more than the German banks’ aggregate capital. In other words, they lent more than they could afford.

When the European Union and the European Central Bank stepped in to bail out the struggling countries, they made it possible for German banks to bring their money home. As a result, they bailed out Germany’s banks as well as the taxpayers who might otherwise have had to support those banks if the loans weren’t repaid. Unlike much of the aid provided to Greece, the support to Germany’s banks happened automatically, as a function of the currency union’s structure.

www.bloomberg.com... kel-should-know-her-country-has-been-bailed-out-too.html

The article is from last year but it does make interesting reading and is still valid today.

Bank of England deputy governor Paul Tucker has said negative interest rates should be considered.

www.bbc.co.uk...

I know it's not Cyprus...but 'negative interest rates' is just another way of doing what they're planning in Cyprus IMHO.
Rainbows
Jane

latest thought have the wealthiest pay 25% no joke worldnews.nbcnews.com...

cyprus-now-looks-to-take-25-percent-from-bank-accounts-of-wealthy

that is one way , we should take lessons on this , the next time the banks fail, take 25% for all investors and depositors, that will teach you about trusting banks. now to get 25% from wall street, we would all have it made in the shade.

reply to post by angelchemuel


So wait... Daddy bank asks money from small banks because they are lending money? So how will this effect us as consumer?

It isn't really new , I heard some pm's here in Belgium discuss that same possibility ( negative interest)

reply to post by angelchemuel


Oh and btw, if you want to read some realy interesting stuff on whats happening now I suggest this:

This was a comment on zerohedge from a guy called brussel banker guy... verry interesting read

Whatever will happen in Cyprus, has likely been decided behind the scenes, in the off-the-radar but important meeting in Moscow between Vladimir Putin and EU Commission President José Manuel Barroso - who is the real key figure in the EU with the most direct connections to all the 'shadow powers' in and behind the EU governments.
For some reason, this colossally important summit meeting between Putin and Barroso, has been under the media radar, here is one place:
english.ruvr.ru...
The Barroso - Putin meeting was going on right as Cyprus was in Moscow negotiating with the Russians and learning what they should do.
At this point Cyprus is in most ways a passenger, and very likely simply carrying out the role that Russia is recommending to them after Putin's deal with Barroso.
Whatever Cyprus ends up in or out of the euro-zone or the EU itself, Putin and Barroso have likely okayed the deal ... even if that means Russia raising gas prices to Europe to cover whatever gets lost to Russian companies with a Cyprus 'plan' or default.
Also of great importance is the raiding of Christine Lagarde's apartment, directly after she pressed the Cyprus idiocy the previous weekend. It is worth looking at what Jim Sinclair has been saying as to why this happened.
There is also Ben Bernanke essentially announcing he would leave the US Federal Reserve at the end of his term in some months ... Sinclair says this is directly a result of the Cyprus blunder backed by US politicians, but against the US and other central bankers.
In short maybe this -
The Cyprus 'plan' idiocy the previous weekend, contained two major blunders by Germany and the Lagarde IMF, both of whom were acting as agents of the Americans.
The first blunder was that of trying to seize Russian money, without consulting and involving Putin as had been promised.
The second blunder was trying to seize insured customer bank deposits as a test confiscation of assets ... But they were doing this much too early, when the world's central bankers, Bernanke and perhaps Mario Draghi as well, felt that maintaining the illusion that deposits are 'safe' was essential to maintaining the global money-printing Ponzi scheme.
The Cypriot politicians know the EU is not whom they need to please, it is Russia, hence the absolute zero of votes for the EU plan early in the week, and ignoring the 'Troika' for most of the week.
The higher level of EU internal politics, also saw the huge error, the immense danger to the whole EU banking system, and to relations with Russia, the EU's 3rd biggest trading partner, and to how costly gas will be to heat Europe next winter.
That is why Lagarde's flat was suddenly raided as a years-old ancient 'investigation' was suddenly revived, to show Lagarde she was being brought down, like the way her US patrons did to Strauss-Kahn so crudely ... and likely why Draghi is in hiding ... and why the Troika is being brought down a notch in the public eye.
According to Jim Sinclair, Ben Bernanke sees the Cyprus mess as essentially blowing up all the work he had been doing for the last several years, trying to keep the whole Ponzi going for a few years longer. Sinclair says that is why Bernanke suddenly called it quits, washing his hands of everything, only hoping the collapse of the dollar will not happen in the months he has left in office.
Putin has won the round ... Barroso likely traded whatever Putin had asked. Now we will learn in the coming week what is the end product of the Barroso - Putin deal.
It is entirely possible that Putin saw his best play not as an overt rescue and moving-in on Cyprus immediately ... but letting Cyprus semi-collapse and leave the euro-zone, as a harsh 'lesson' to be taught the EU for their arrogant insolence in trying to steal Russian money. Russia can move in a little later, at fire-sale prices ... he remains the 'daddy' of Cyprus, with the tens of Russian billions, locked up now in Cyprus under the new capital controls.
Barroso likely swallowed and accepted whatever terms Putin offered. Alternative gas sources from the Levant will not be online for several years ... Putin needs to be mollified by the EU, even if that means fragmenting the euro-zone as the price to be paid.
And the global Ponzi scheme is indeed in quite a bit of extra danger now. The process of financial entropy has greatly accelerated. Ben Bernanke seems not to want to even play anymore, after Lagarde and the Germans and Dutch, and his own fellow American politicians, blew up his game with their foolish extortion.

reply to post by Senduko


Your link is '404'd'!
Rainbows
Jane

reply to post by angelchemuel


odd most have been take of the site...

Sky news
A deal has been reached, Cyprus agrees to tax 20% on deposits over 100,000 and 4% for all other deposits
Let the games begin!
Rainbows
Jane

Hmm anyone wanna bet that the 4% will be on savings beneath €100.000?

reply to post by Maya00a


There had been MANY analysis over the greek debts, but intelligent insights but also by fools masquerading as if they are genuises in our world where none is perfect or is not flawed.

Trust not what you read from one supposed 'independent' source, but from many, and research upon them to come up with a more better and truthful opinion of your own, based upon facts, evidences and logic.

Greece was not the only nation to be blamed for lax banking controls, nor was USA where the banking contagion began. It was a WORDWIDE scam by bankers, whom were trusted by many as knowing what they are doing, as they had long robbed every nation's best and brightest youths into their industry with big money instead of competting fairly in the market that needed them for engineering, tech, social sciences, etc to progress and evolve.

Germany had bought greek bonds. But SO HAD many other nations. AND PAID THE PRICE - austerity today to make up for their FAILURES to perform 'due diligence' on such purchases. Greed for huge debt returns overtook all rationality, more so unregulated banks such as those in Cyprus, whom is a financial centre that offered HUGE returns for depositors and investors.

Today, Cyprus free wheeling days and gravy train had ended. The leaders and bankers have to accept FULL responsibility for their errors, and cypriots for leaving their brains at the door and believing in the demagogueries of the power lusting leaders wannabe who made all kinds of promises, promises of which CAN NEVER be kept, as its wealth was based upon massive HOT money from russia, which is laundered into properties and stock markets driving up prices and rentals, causing HUGE inflations to other cypriots not lucky enough to be working in the banking and property industries.

When such funds are lost or pulled out, the nation bankrupts as its foundations were built upon greed and corruption, instead of diversified honest trade, industry and services for the economy.

As long as Cypriots and their leaders REFUSE to acknowledge their errors, correcting them BUT expects free handouts while at the same time BLAMING EU, ECB and IMF for the rescue and every nonsene that they can think of, Cyprus will only become stagnant and even regress over time.