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

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posted on Mar, 21 2013 @ 03:08 PM
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Also, what's up with Cypriots being able to withdraw 500 euros/day from ATMs?

If a million people withdrew the maximum every day for 5 days, that's 2.5 billion euros out of the banks.




posted on Mar, 21 2013 @ 03:10 PM
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reply to post by walliswallis
 


260€ to be exact, and why not its their damn money lol
edit on 21-3-2013 by Senduko because: It double checked, it was 260€ instead of 250 my bad :p



posted on Mar, 21 2013 @ 03:11 PM
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Originally posted by Senduko
reply to post by walliswallis
 


250€ to be exact, and why not its their damn money lol


Not that I don't agree but it seems to kinda defeat the purpose of closing the banks.



posted on Mar, 21 2013 @ 03:17 PM
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reply to post by walliswallis
 


I was chanel hopping...OK!


Rainbows
Jane



posted on Mar, 21 2013 @ 03:17 PM
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reply to post by walliswallis
 


Well, not really, The ATM's have limited amounts of money in them so i can imagine that they are most of the time empty, also can you imagine running a bushiness where you can't use money transfers? ( online bank transfers). Right now Cyprus as a country needs to pay with cash... They can't even use paypall since they cut of that aswell.

Stores can't buy goods or anything. Here in Belgium the ATM limit is 500€ or 2500€ depends what bank your at.



posted on Mar, 21 2013 @ 03:21 PM
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Originally posted by lucid eyes
When half a decade ago Cyprus voted a Communist Government everyone rejoiced over the "peoples revolution" and the creation of an egalitarian utopia. Back then I looked at the celebrations on TV and said: "They`ll be broke within 5 years". This is just the latest in a neverending string of socialist failure. And people are still peddling the merits of leftism everywhere you look.


And Capitalism is??? They are the same side of the coin at he end of the day.
A communist government???
Rainbows
Jane



posted on Mar, 21 2013 @ 03:22 PM
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Lol can you believe this S&P downgraded Cyprus from CCC+ to CCC. They want this country to go bankrupt



posted on Mar, 21 2013 @ 03:26 PM
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OK, so first we are told nobody, anywhere in Cyprus can get money from anywhere...everything is on lockdown. Now msm are telling us they are getting limited access to their funds???? Any Cypriots here to clarify, or anyone know of a cypriot? Otherwise I call bull****, and this is just some sort of propoganda to stop the 'walks that are already happening all over Europe, it's even happening here in the UK.
Rainbows
Jane



posted on Mar, 21 2013 @ 03:27 PM
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I hate to say this because I know I'll regret it - and probably not as much as the Cypriots - but this is fun and exciting to watch.



posted on Mar, 21 2013 @ 03:31 PM
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reply to post by angelchemuel
 


To clarify, Yes and No, There is restricted redrawal, which means its impossible to transfer anything from their bank account, they can however take money from the ATM, max 260€.

This is no propaganda this has been so from the start. They can't use internet bank either. And the ATM's are starting to get low on cash.



posted on Mar, 21 2013 @ 03:38 PM
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reply to post by Senduko
 


Nope sorry, disagree. From last Saturday, all news everywhere was that ATM's were on lockdown too. From what I have read/seen, this limited access has only been enabled today by one Cypriot bank, not accross the board. But hey, it doesn't matter really...the weekend will tell.
Rainbows
Jane



posted on Mar, 21 2013 @ 03:40 PM
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Originally posted by walliswallis

Originally posted by Senduko
reply to post by walliswallis
 


250€ to be exact, and why not its their damn money lol


Not that I don't agree but it seems to kinda defeat the purpose of closing the banks.


People need money to conduct business transactions. You can't close the bank down entirely! What is strange about this??



posted on Mar, 21 2013 @ 03:41 PM
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You can't close the bank down entirely!


uh, yes you can



posted on Mar, 21 2013 @ 03:48 PM
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Originally posted by walliswallis

You can't close the bank down entirely!


uh, yes you can


Technically the government could, but that would only worsten the situation once the banks fully open.

The whole idea is to ease tensions and maintain some confidence in the banking system.

If banks close totally they might as well declare martial law, which I am not sure what that would do anyway.

Sooner or later russia and china need to step in and save cyprus since cyprus declined EU help.



posted on Mar, 21 2013 @ 04:02 PM
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Originally posted by angelchemuel
reply to post by Senduko
 


Nope sorry, disagree. From last Saturday, all news everywhere was that ATM's were on lockdown too. From what I have read/seen, this limited access has only been enabled today by one Cypriot bank, not accross the board. But hey, it doesn't matter really...the weekend will tell.
Rainbows
Jane



Confusing indeed! But even if only one bank is open you can still wire money between cypriot banks?



posted on Mar, 21 2013 @ 04:13 PM
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Originally posted by EarthCitizen07

Originally posted by walliswallis

You can't close the bank down entirely!


uh, yes you can


Technically the government could, but that would only worsten the situation once the banks fully open.

The whole idea is to ease tensions and maintain some confidence in the banking system.

If banks close totally they might as well declare martial law, which I am not sure what that would do anyway.

Sooner or later russia and china need to step in and save cyprus since cyprus declined EU help.




They may be trying to stave off panic and a big bank run but it's going to happen once the bank opens anyway. Say they take a bailout: What are you going to do when the bank opens? I would be first in line to take all my money out and close the account. They've already destroyed my confidence. I would bet all Cypriots are going to do the same.

I think the banks are going to collapse regardless of what happens.



posted on Mar, 21 2013 @ 05:33 PM
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reply to post by texasgirl
 


All the PIIG nations have gotten enormous bailouts thus far so I don't see why Cyprus is unique in this regard. If they don't get money from the EU or IMF then they will probably get it from china, russia or some wealthy arab nations.

How big the bank runs are depends on the public relations effort of the cypriot government. If they play their hand lousy then yes conceivably their economy could collapse, but hopefully it won't. Or they can tell everyone to take a hike and go back to the cypriot pound with a private or public central bank.

I think russia/china are waiting to see if cyprus abandons the EU or not. They are probably putting pressure on them as we speak. I personally enjoyed the no vote as russia has been getting cornered for too long now and it was time for them to make a comeback. And all this so called "mafia money of russian interests" is no different to the mafia money of switzerland, lichenstein, bahamas, luxembourge, etc.

The hypocrisy is really thick from everywhere, but western hypocrisy is way worse imho!!



posted on Mar, 21 2013 @ 06:18 PM
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After reading this thread, I'm really surprised that I don't recall seeing a single person on this thread understanding what Cyprus and its banks actually are--an offshore tax haven. The implication of the Russian mafia is there but it's not just the mafia. It's basically the financial home of tax avoidance. Personally, I do hope that the people of Cyprus are able to access their funds locally. For foreign bank clients, I hope they get shafted. Caveat emptor. Dumping one's money into a small country for a tax avoidance strategy is not without risk as it may lack sufficient controls, regulation, and assurance that one's money will still be there when all is said and done. Maybe that's merciless but isn't tax avoidance part of the problem in a lot of countries?
edit on 21/3/13 by WhiteAlice because: grammar



posted on Mar, 21 2013 @ 06:20 PM
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Originally posted by walliswallis
Also, what's up with Cypriots being able to withdraw 500 euros/day from ATMs?

If a million people withdrew the maximum every day for 5 days, that's 2.5 billion euros out of the banks.



The ATM's would be empty long before then.



posted on Mar, 21 2013 @ 06:22 PM
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Originally posted by walliswallis

Originally posted by 00nunya00
JUNK SILVER, people. Junk silver. You can pay for a pocketful of coins of intrinsic value TODAY, with cash, without being put on a DHS list. No supporting goldbugs or greedy talk show hosts; just go to your local antique store and stock up.


If the SHTF how do you sell junk silver? I'm not a metallurgist and can't quantify the precious metal content of junk silver.


You use the coin at the value the black market has put on it. And that's the point, every coin is basically the same amount of silver. Anyone can know what it's worth.





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