Cyprus Bailout

German Chancellor Angela Merkel said it was up to the Cypriot government to come up with an alternative proposal but it was fair to expect savers with deposits over 100,000 euros (£86,000) to contribute to the bailout.
Moscow is now a massive ally for Cyprus - Cypriot Finance Minister Michael Sarris said he had not reached a deal at a first meeting today with his Russian counterpart Anton Siluanov, but talks there would continue.


Read more: http://www.dailymail.co.uk/news/article-2296234/Cyprus-finance-minister-begging-mission-Moscow-Russia-offers-write-debt-Gazprom-access-untapped-oil.html#ixzz2O7fI4G48
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What? Why is it 'fair' for ANYONE to have money confiscated like this? I really can't imagine why Cyprus is rushing into the arms of Russia - or rather, I can.

I wish that damned woman would shut up and take heed of the carnage she is causing.

http://news.sky.com/story/1068912/cyprus-agrees-20-percent-tax-on-bank-deposits

Cyprus Agrees 20% Tax On Bank Deposits

Seriously, are they mad? Are they really proposing to help themselves to one fifth of the money deposited in Cyprus by assorted Russian types?

And speaking of, I see we have another one 'committing suicide':

http://news.sky.com/story/1068891/boris-berezovsky-russian-oligarch-found-dead

Exiled Russian businessman Boris Berezovsky has been found dead in a bath at his home in the UK.

It is believed the former billionaire, who had fallen out with the Kremlin, took his own life but no reports have been confirmed.

Yes, of course he took his own life - who wouldn't believe that?

did he fall out with the Kremlin before or after he got the billions of pounds from energy companies??

As for Cyprus, good lord I can't believe they are going to take 20% levy from The Bank of Cyprus and 4% from another bank.

Have people had any access to money yet?

I think they have been able to take a limited amount out of ATMs, Rhodes, but as for anything else, I have no idea.

Cyprus' government makes Cameron's lot look sane.

bb1 wrote:I think they have been able to take a limited amount out of ATMs, Rhodes, but as for anything else, I have no idea.

Cyprus' government makes Cameron's lot look sane.

coming soon to a cashpoint near you. In this day and age I am mortified things like this would even go on!

I think a united Europe has been an epic fail.

I know - the euro seems to have been a disaster for every country involved in it.

bb1 wrote:I know - the euro seems to have been a disaster for every country involved in it.

Not all; I have investments in Austria and other Euro countries and I am having no problems. However, the whole problem stems from the speed at which the Euro was launched, with little or no regard for the future and possible problems arising from the state of the finances of the ones who signed up. Personally, I would be very happy to see the scrapping of the Euro and the return of the Austrian Schilling and the Deutsche Mark. It was a good idea, but it was never feasible. LL

http://news.sky.com/story/1070567/cyprus-banks-in-race-ahead-of-reopening

Seems to me that as, not content with stealing people's money, Cyprus is now conducting itself in a manner that would make Stalin proud, it's time to bring down the curtain on the euro.

It hasn't worked. What's the point in prolonging the misery for so many millions of people, who are NOT responsible for this?

When I was looking for investment potential after I decided to move from the UK one suggestion was offshore banking. I sought advice and was advised against putting any funds in Cyprus as my financier said it was a greatly over-inflated balloon that one day would collapse. I am glad I listened to him. LL

I cannot honestly say I had paid too much attention to Cyprus before this, LL.

Here's the thing; the measures now being introduced in Cyprus are, apart from anything else, the very OPPOSITE of what the euro was supposed to achieve.

If there is a point to carrying on with the euro experiment, I don't know what it is.

As I said earlier, I'd rather see the back of it, its setting up was rushed and the implementation weren't followed through. It would have been better all round of Cyprus had defaulted, declared itself bankrupt and left the Eurozone. Just be thankful the UK never joined. LL

My own opinion is that, sooner or later, the euro is going to collapse, and it would be better to be done away with in a semi-orderly fashion.

The EU top dogs don't seem to be noticing that some rather nasty things are rearing their ugly heads in Europe again. It's not that long since Greece, Portugal and Spain were dictatorships, and IMO the euro is in danger of leading to chaos and unrest, and back to one-party states with their own currency and a degree of stability. But you can forget about Yuman Rites....

My friends, this was taken from Sky News:

http://news.sky.com/story/1070567/cyprus-banks-in-race-ahead-of-reopening

From Pedro's link:

Staff from G4S have been working 24/7 since this crisis began ensuring cash machines have been filled up night after night.

The giant global firm was the contractor that failed to meet their promises over security at the London Olympics prompting the British military to step in.

G4S's managing director in Cyprus, John Arghyrou, told Sky News: "I feel we have the resources, I feel extremely confident as a security company that we can undertake and meet the requirements of our customers."

Some 180 guards will be deployed to banks across Cyprus to work alongside police officers and other security firms.


I don't believe it - of all the incompetent idiots Cyprus could have picked, they chose G4.

Meanwhile, in Athens, someone has tried to blow up a Greek shipping magnate involved in this mess:

http://news.sky.com/story/1070649/acropolis-bomb-blast-in-central-athens