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hisah
#3321 Posted : Sunday, March 17, 2013 12:39:05 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977


Quote:
Panic: A move by Cypriot authorities that could see up to ten per cent of bank deposits seized to bail out the bankrupt sparked panic and violent protests. One disgruntled customer parked a bulldozer in front of a bank in the coastal town of Limassol in protest.


http://www.dailymail.co....levy-bank-accounts.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3322 Posted : Sunday, March 17, 2013 3:23:51 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Collateral Damage - Back to Mesopotamia? The Looming Threat of Debt Restructuring by The Boston Consulting Group - http://www.scribd.com/do...BCG-Back-to-Mesopotamia

So on point with the debt drama unfolding in euroland and US.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3323 Posted : Sunday, March 17, 2013 4:02:21 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Cyprus parliament postpones vote on savings levy to Monday - http://www.reuters.com/a...t-idUSBRE92G03I20130317

Quote:
Cyprus's parliament postponed an emergency session called to approve a levy on bank deposits on Sunday after signs lawmakers could block the surprise move agreed in Brussels to help fund a bailout and avert national bankruptcy.

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cashpoints, most of which were depleted within hours. Electronic transfers were stopped.

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse.



A nation in pain coz of 2 banks that have stacked their debt more than 8 times the GDP output??! The cypriots should just ram through a default like Iceland and let the banksters eat their sh**.

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3324 Posted : Sunday, March 17, 2013 5:55:20 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
When this one comes down, it'll be a bloodbath...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#3325 Posted : Sunday, March 17, 2013 6:24:46 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
The hangover after the overdose Sick Sick
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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obiero
#3326 Posted : Sunday, March 17, 2013 6:39:26 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
[quote=hisah]@murchr - I'm waking up to the Cyprus news and this sh** aint funny. Cyrus bailout terms is utter robbery by the state!? 10% one-time tax will be recovered from each account in any of the local banks?! Poor savers, Monday is a bank holiday in Cyrus meaning they can't withdraw deposits. Convenient the holiday for the banksters to avoid a bank run. Actually this is not a state bailout, but a bloody 'bail in' since the depositors/savers money is being seized (taxed) to hand over the bailout! Of the 10B EU is to provide as bailout is actually being paid by the Cypriot savers at almost 5.8B?! Almost a third of the GDP of Cyprus. Parliament has sunday & monday to ram (pass) a bill to make the one-time tax (seize aka confiscate) on deposits (100k euros & above and 6.75% tax for less than 100k) legal. Aicaramba! Madness galore d'oh!

@kk - I think euroland is just about to tip with gubberments getting really draconian Sad

'Revolts just happen, they're never planned'

http://www.businessinsid...cos-anastasiades-2013-3[/quote]
this type of thing i.e getting into client's accounts, could never happen in an African state. people would do weird things if any government tries such a stunt

KQ ABP 4.26
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kyt
#3327 Posted : Sunday, March 17, 2013 9:44:57 PM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
indeed this sh*t aint funny, wah my word this is daytime robbery Of citizens by their govt! crazy stuff!!!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Cde Monomotapa
#3328 Posted : Sunday, March 17, 2013 10:56:56 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
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hisah
#3329 Posted : Monday, March 18, 2013 1:20:54 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Cde Monomotapa wrote:
Déjàvu http://www.thezimbabwean...s-from-fcas.html?mobile

Cyprus zimbabwe soon to be euroland zimbabwe... Same happened during the mexican tequila crisis in 1994 and the argentine crisis in 2000.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Cde Monomotapa
#3330 Posted : Monday, March 18, 2013 1:40:21 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
hisah wrote:
Cde Monomotapa wrote:
Déjàvu http://www.thezimbabwean...s-from-fcas.html?mobile

Cyprus zimbabwe soon to be euroland zimbabwe... Same happened during the mexican tequila crisis in 1994 and the argentine crisis in 2000.

Indeed and that should be of great concern to the CHF coz as the govts get needier, tax havens will be X-haired and who knows... Sad
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