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Cypriot Austerity Measures

Discussion in 'General Discussion' started by 233, 16 Mar 2013.

  1. jimjamuk

    Mobster

    Joined: 30 Nov 2007

    Posts: 2,988

    Location: Bristol, UK

    Given the large amounts of Russian cash there - I can see Russia stepping in to save Cyprus and then maintaining it as their own tax haven away from home
     
  2. [TW]Fox

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 157,585

    You forgot to blame Obama.
     
  3. jimjamuk

    Mobster

    Joined: 30 Nov 2007

    Posts: 2,988

    Location: Bristol, UK

    That'll mean the British base will also close on Cyprus alongside the planned closure of the German ones - cue more cutbacks to the military
     
  4. LOAM

    Capodecina

    Joined: 20 Oct 2004

    Posts: 12,631

    Location: Nottingham

    And its all Obama's faults

    I'm new to this, Is that correct?
     
  5. Freddie1980

    Soldato

    Joined: 25 Sep 2009

    Posts: 7,494

    Location: Billericay, UK

    I Don't we use Cyrpus as a militray/air base? I'm sure the Russians would love to kick nato out of Cyprus.
     
  6. dowie

    Capo Crimine

    Joined: 29 Jan 2008

    Posts: 52,498

    They are small chunks of UK territory.

    Given the location - its highly unlikely that the UK is likely to want to close either base any time soon...
     
  7. dowie

    Capo Crimine

    Joined: 29 Jan 2008

    Posts: 52,498

    They don't have a choice - both British areas are sovereign territory... they've got about as much chance of getting rid of the Turks from the northern bit of the island
     
  8. chameleon

    Hitman

    Joined: 31 Jul 2005

    Posts: 897

    Location: Edinburgh

    Well, their politicians have unanimously voted against the cash grab. Guess the next step is the banks stay closed, the country goes bankrupt, the EU cry a lot and writes off the debt (ala Greece) and everybody loses ALL their money. Oh and apparently, we have sent a plane load of money out so, in a way, we are paying for it anyway.
     
  9. Mr Jones

    Capodecina

    Joined: 16 May 2006

    Posts: 11,334

    Location: Dubai

    Did you hear that when someone was talking to someone else about what they read from Daily Mail?

    "Plane load of money" is to help British Troops residing in Cyprus (they have familys you know!) because they can't get money out of Banks to buy day to day stuff.

    The EU knew what they're getting into when they allowed countries to join and share the same AAA credit rating. Government and Banking in the country is to blame, there will be bail out from what remaining funds available, or they'll just extend their loan repayment and drag out the situation and deal with it later.
     
  10. SoSolid

    Wise Guy

    Joined: 28 Jul 2003

    Posts: 1,987

    Location: The Moon

    Greek Cypriots are just like their bigger brothers on the mainland. Tax dodging, irresponsible and now throwing their toys out of the pram. God save the queen.
     
  11. Destination

    Capodecina

    Joined: 31 May 2009

    Posts: 20,604

    Wonder how thy will come up with the cash?
    Maybe they will be let burn for a while to keep the greeks in line.
     
  12. GAC

    Mobster

    Joined: 11 Dec 2004

    Posts: 4,486

    no its not, as the banks are still going to be closed thursday as well acording to the news.

    wonder if the banks will get opened at all this week.
     
  13. Freefaller

    Man of Honour

    Joined: 5 Jun 2003

    Posts: 87,588

    Location: Falling...

    Whilst there is a little of that going on, let's not generalise or tar people with that broad brush of yours.
     
  14. Destination

    Capodecina

    Joined: 31 May 2009

    Posts: 20,604

    Indeed, lets just see them suffer to save their banks, or go bankrupt, and then we shall see just what happens then?
    People rejoicing that an eu bailout loan wont be paid to them, and their depositors wont lose a perentage of what they had saved. Okay, fair enough, our lot didnt steal our savings to pay off our bankloans, instead they shafted us, and continue to do so in the legacy of the mess we are in, we had a five year plan to try not to borrow so much.
    We do not have ten year or twenty year plan to actually pay any of this mess back.

    I'll be intrigued to see what the Cypriots do when they have zero tourist income, and zero banks open. Let them do it. Let them establish an alternative solution. The mega super wealthy all around the world stacked in bidding against hedge funds will continue to make their monies.

    If governments actually wanted to tackle the basis for these issues they would remove that form of betting, but no government in the world would consider such a path.

    Can anyone explain to me how this betting for failure, betting that economys will fall, collapse, that lenders will die, that toxic debt will become more toxic. All this side of investment banking, how does that at any level benfit a society or country? There must be some reason it exists, so what is the reason, what is the point or use in it?
     
  15. GAC

    Mobster

    Joined: 11 Dec 2004

    Posts: 4,486

    no they wont....

    http://www.bbc.co.uk/news/world-europe-21855163
     
  16. M1k3H

    Wise Guy

    Joined: 6 Jul 2010

    Posts: 1,803

    That goes to show how misinformed some people are.

    Do you even read the news? Do you even know why this has happened?

    No? Then you are not allowed to have a respected opinion.
     
    Last edited: 20 Mar 2013
  17. GAC

    Mobster

    Joined: 11 Dec 2004

    Posts: 4,486

    its just been reported on the bbc news channel that the Cypriot finance minister says the talks are going well but the levy is now looking like it will be 25% :O
     
  18. bazaarboy

    Hitman

    Joined: 22 Jun 2009

    Posts: 779

    Location: Norwich

    very strange. last weekend the proposal was 6-10%, which then got rejected by the cypriot parliament.
    now, they have already approved "capital restrictions" and are looking at a higher % fleecing of the savings accounts...
     
  19. Xordium

    Capodecina

    Joined: 8 Apr 2009

    Posts: 12,702

    You need people to tell you the answer to that? To satisfy unadulterated greed.
     
  20. Judgeneo

    Capodecina

    Joined: 15 May 2010

    Posts: 10,093

    Location: Out of Coventry

    The difference is savings under 100k will be safe.


    A bank run is still a very real possibility though.