Cyprus financial problems

pseacraft

Active Member
So a deal has been reached. Got good 50 yard line seats here. I think they should have approved the first deal, sounds like a much bigger hit is coming, up to 40% on the big accounts from the Popular Bank and its closure. Will be intersting to see if the 100k Euro Bank Guarantee really does protect the those 'small' accounts. Ah the details...
 
J

Joe

Guest
So a deal has been reached. Got good 50 yard line seats here. I think they should have approved the first deal, sounds like a much bigger hit is coming, up to 40% on the big accounts from the Popular Bank and its closure. Will be intersting to see if the 100k Euro Bank Guarantee really does protect the those 'small' accounts. Ah the details...
keep us informed .
 

pseacraft

Active Member
Supposedly there was a BoC bank office hit with an IED from the inside, the perps broke in planted the device and ran. All caught on CCTV. Nothing seems to change here....
 
J

Joe

Guest
Cyprus is expected to stop people taking their money out of the country but will not restrict dealings at home as it tries to avert a run on its banksafter agreeing a tough rescue package with international lenders. http://www.reuters.com/article/2013/03/27/us-cyprus-parliament-idUSBRE92G03I20130327
 

pseacraft

Active Member
Its amazing that all that I have heard from people here is how they have "lost everything" but yet all the reports are still saying it is a possibility of up to 40% being tapped. So much knee jerking and misinformation being communicated its insane. My only worry is if I can send my monthly family support overseas....
 
J

Joe

Guest
Its amazing that all that I have heard from people here is how they have "lost everything" but yet all the reports are still saying it is a possibility of up to 40% being tapped. So much knee jerking and misinformation being communicated its insane. My only worry is if I can send my monthly family support overseas....
We will see what happens when the banks actually open
 

pseacraft

Active Member
Not looking forward to the lines at the bank tomorrow. Luckily my local bank is not affected by this but being a bank they are stuck following the rules. Right now we can not even pay our utilitiy bills online, even with our debit cards but think that avenue will be open tomorrow, nice that everyone is now dink on them. Maybe I will stay home and not try anything until Tuesday...
 
J

Joe

Guest
Nigel Farage: "This EU is the New Communism. It is Power without Limits." <strong>
 

Cairenn

Senior Member.
So? That is his OPINION. not a FACT. Sort like saying that what Rand Paul says is a fact.

Farage has been noted for his passionate and sometimes controversial speeches in the European Parliament.... From taking office as a UKIP MEP in 1999, Farage has often voiced opposition to the "euro project". His argument is that "a one-size-fits-all interest rate" cannot work for countries with structurally different economies, often using the example of Greece and Germany to emphasise contrast. He predicted the need for bailouts before European Commission and European Central Bank officials admitted that these steps would be necessary. Specifically, Farage predicted that Greece, Ireland, Portugal and Spain would all require such assistance.[citation needed] To date, all of them have sought a bailout. Although Spain and Italy have both had indirect assistance from the ECB, whereby secondary government bonds are bought by the central bank, they are prohibited from purchasing new bonds. Farage warns: "You can ignore the markets if you want to, but in time the markets will not ignore you". Farage also reinforces Germany's argument that Italy "should never have joined the Euro".

Farage strongly opposes the use of bailouts and claims that "buying your own debt with tax payers money" will not solve the problem and that, "if we do, the next debt crisis won't be a country", "it will be the European Central Bank itself"
Content from External Source

http://en.wikipedia.org/wiki/Nigel_Farage
 
J

Joe

Guest
So? That is his OPINION. not a FACT. Sort like saying that what Rand Paul says is a fact.

Farage has been noted for his passionate and sometimes controversial speeches in the European Parliament.... From taking office as a UKIP MEP in 1999, Farage has often voiced opposition to the "euro project". His argument is that "a one-size-fits-all interest rate" cannot work for countries with structurally different economies, often using the example of Greece and Germany to emphasise contrast. He predicted the need for bailouts before European Commission and European Central Bank officials admitted that these steps would be necessary. Specifically, Farage predicted that Greece, Ireland, Portugal and Spain would all require such assistance.[citation needed] To date, all of them have sought a bailout. Although Spain and Italy have both had indirect assistance from the ECB, whereby secondary government bonds are bought by the central bank, they are prohibited from purchasing new bonds. Farage warns: "You can ignore the markets if you want to, but in time the markets will not ignore you". Farage also reinforces Germany's argument that Italy "should never have joined the Euro".

Farage strongly opposes the use of bailouts and claims that "buying your own debt with tax payers money" will not solve the problem and that, "if we do, the next debt crisis won't be a country", "it will be the European Central Bank itself"
Content from External Source

http://en.wikipedia.org/wiki/Nigel_Farage
You have a example Of Rand Paul our next president with Ted Cruz as vice president that wasnt fact ? He wipe the floor with Obama the tyranical leader that uses the IRS to target his opponents . Even Piers Morgan the Slimey Limey agrees ? {Disclaimer The insult was directy towards Piers Morgan and does not reflect my veiws on anyone from England on this fourm }
 
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