Cyprus to get a Euro Bailout worth €10billion (£8.6billion) to stave off bankruptcy.

[arista]

But UK Army in Cyprus
can not get into their accounts
to stop the tax take out.

Some Banks are frozen
so locals are Angry

http://i.telegraph.co.uk/multimedia/archive/02511/cut_Cyprus2_AP_2511537b.jpg


Any account with over €100,000
now pays a Higher Tax. (around 10% will be taken out)
They have a Bank holiday there on Monday
so by Tuesday it could be Fisty Cufffs at banks
Russians have to move their money fast
or they pay the hight Tax.

"Savers to take a hit on their deposits
as Cypus becomes fifth country to receive eurozone bailout"

Read more: http://www.dailymail.co.uk/money/news/article-2294391/Savers-hit-deposits-Cyrpus-fifth-country-receive-eurozone-bailout.html#ixzz2NivHmsG6

http://news.sky.com/story/1065567/cyprus-bailout-savers-lose-money-in-eu-deal
Video report


Life In The Fast Lane

[arista]

http://i.dailymail.co.uk/i/pix/2013/03/16/article-2294388-18B8B72C000005DC-861_306x423.jpg
Furious: Shirley Brooks, 61, who is originally from Manchester,
said she stands to lose €18,600 of her retirement money

Read more: http://www.dailymail.co.uk/news/article-2294388/ATMs-emptied-Cyprus-savers-learn-10billion-euro-bailout-agreement-includes-levy-bank-accounts.html#ixzz2Nn39KyI0



Thats a shock for her.




Osborne will compensate
UK Military based in Cyprus
he said this morning.

[lostalex]

Now you know how we feel when we have to bail out New Orleans or Detroit.

If you make an agreement to be part of a "union" then you've gotta be united. You can't complain just because part of the union isn't doing so well, you've gotta suck it up and fulfill your responsibilities.

[waterhog]

i predict riots in Cyprus 17.03.13

a plan was launched,
but it did fail,
how many times is it,
have we given Cyprus bail.
is it just the Greek side,
that there is this murk,
what about the north,
how bad is the Turk.
now measures that are rude,
it does boil down to theft,
there government has entered all bank accounts,
10% gone and 90% left.
you are pushing,
there is going to be a big Cyprus tear,
lots are going to pay the ultimate price,
none will escape like "Polly Peck's" Asil Nadir.

( maybe i am wrong, but i do understand you can only push people so far. ps i love how i ended with my poem and only if you google this mans name will you understand why he was untouchable. its all to do with north Cyprus and it not being recognized. yes i do no he has recently returned to the uk and is now serving time in HMP. Asil if you have a pc in your cell - please send me a VO, we have to talk business. )

[Iceman]

Now you know how we feel when we have to bail out New Orleans or Detroit.

If you make an agreement to be part of a "union" then you've gotta be united. You can't complain just because part of the union isn't doing so well, you've gotta suck it up and fulfill your responsibilities.

I always found it weird how Detroit turned into such a bad economy... they were one of the most prosperous cities and now they're practically hanging together.

[Me. I Am Salman]

they're interviewing the guy from stavros flatley on sky news :laugh2:

[Roy Mars III]

I always found it weird how Detroit turned into such a bad economy... they were one of the most prosperous cities and now they're practically hanging together.

as racist as it sounds: the richer(mostly white) people left the city. They moved twenty miles or so away to Oakland County. it is now the 4th richest county in America(last time I heard)

Also the Detroit mayors and city council after been super corrupt for the past 50 years(Kwame). It's a mess. They just had to hire a finical manager it got so bad

compare it to Chicago. A similar city, but the more well off people stayed.

[Iceman]

Ah I see thanks, my knowledge ion it only comes from Eminem interviews about it and stuff, good to get an actual answer about it though.

[lostalex]

as racist as it sounds: the richer(mostly white) people left the city. They moved twenty miles or so away to Oakland County. it is now the 4th richest county in America(last time I heard)

Also the Detroit mayors and city council after been super corrupt for the past 50 years(Kwame). It's a mess. They just had to hire a finical manager it got so bad

compare it to Chicago. A similar city, but the more well off people stayed.

You are exactly right.

It is easy for the rich of a city, to move to the suburbs, across county lines and therefore avoid city taxes.

I grew up in Northern Virginia, which is basically the same situation., All the well-off white people live in the suburbs in Northern Virginia, but they work in Washington DC, so DC doesn't get the tax dollars from those people. And DC has some of the most impoverished people in the nation. And also the worst schools. But just across county lines, there are some of the most wealthy people, with some of the best schools in the nation.

[arista]

they're interviewing the guy from stavros flatley on sky news :laugh2:


Yes he said the locals
will not get angry that the UK Army based there
get UK money help.


But on tuesday
after their holiday out there
it can turn into Fisty Cuffs at the banks

[Vicky.]

TBH its not really much different to our 'quantitive easing'...except its more upfront and honest than our 'system' is.

[lostalex]

Yes he said the locals
will not get angry that the UK Army based there
get UK money help.


But on tuesday
after their holiday out there
it can turn into Fisty Cuffs at the banks

lol

I'm not sure if you were being funny or artistic, but yea, it's a single word, fisticuffs.

[arista]

TBH its not really much different to our 'quantitive easing'...except its more upfront and honest than our 'system' is.


Yes but that manchester woman (now living there)
will lose so much money
that was for her later years.



http://i.dailymail.co.uk/i/pix/2013/03/16/article-2294388-18B8B72C000005DC-861_306x423.jpg
"Furious: Shirley Brooks, 61, who is originally
from Manchester, said she stands to
lose €18,600 of her retirement money"

Read more: http://www.dailymail.co.uk/news/article-2294388/ATMs-emptied-Cyprus-savers-learn-10billion-euro-bailout-agreement-includes-levy-bank-accounts.html#ixzz2NoDlbCdj

[lostalex]

Yes but that manchester woman (now living there)
will lose so much money
that was for her later years.



http://i.dailymail.co.uk/i/pix/2013/03/16/article-2294388-18B8B72C000005DC-861_306x423.jpg
"Furious: Shirley Brooks, 61, who is originally
from Manchester, said she stands to
lose €18,600 of her retirement money"

Read more: http://www.dailymail.co.uk/news/article-2294388/ATMs-emptied-Cyprus-savers-learn-10billion-euro-bailout-agreement-includes-levy-bank-accounts.html#ixzz2NoDlbCdj

she took a risk. Why is she living in Cyprus? Why are you giving her more attention than any other Cypriots? Just cause she's British?

The bad taste in hair style, glasses and dental hygiene certainly identifies her as british, but i don't think that means she deserves extra sympathy.

[Vicky.]

Yes but that manchester woman (now living there)
will lose so much money
that was for her later years.



http://i.dailymail.co.uk/i/pix/2013/03/16/article-2294388-18B8B72C000005DC-861_306x423.jpg
"Furious: Shirley Brooks, 61, who is originally
from Manchester, said she stands to
lose €18,600 of her retirement money"

Read more: http://www.dailymail.co.uk/news/article-2294388/ATMs-emptied-Cyprus-savers-learn-10billion-euro-bailout-agreement-includes-levy-bank-accounts.html#ixzz2NoDlbCdj
If she hadnt moved to Cyprus and saved with our banks instead, she would still be worse off anyway most likely. She just probably wouldnt know about it as our countries way of ripping people off isnt quite as in your face as this.

[lostalex]

If she hadnt moved to Cyprus and saved with our banks instead, she would still be worse off anyway most likely. She just probably wouldnt know about it as our countries way of ripping people off isnt quite as in your face as this.

to be fair British banks arn't exactly safe bets eigther. Wasn't part of the BP oil spill scandal that British retirement funds were wrapped up in BP stock? So now when BP absolutely destroyed an ecosystem in the gulf of Mexico all those poor old pensioners were out a lot of money, and we're meant to feel bad for a giant oil company like BP, right?

[arista]

she took a risk. Why is she living in Cyprus? Why are you giving her more attention than any other Cypriots? Just cause she's British?

The bad taste in hair style, glasses and dental hygiene certainly identifies her as british, but i don't think that means she deserves extra sympathy.


She bought a Home
better than one in Manchester. England

Nothing wrong with that.

[lostalex]

She bought a Home
better than one in Manchester. England

Nothing wrong with that.

I agree there's nothing wrong with that, but she shouldn't come crying home to the UK when things go wrong. If you choose to move away, you shouldn't be coming home crying when things don't work out for you. If you choose to make your home in Cyprus then that is your home now. You can't just call yourself a Brit again when the going gets tough in yur new home over seas.

[Vicky.]

to be fair British banks arn't exactly safe bets eigther. Wasn't part of the BP oil spill scandal that British retirement funds were wrapped up in BP stock? So now when BP absolutely destroyed an ecosystem in the gulf of Mexico all those poor old pensioners were out a lot of money, and we're meant to feel bad for a giant oil company like BP, right?

I dont know about any of that :p

I do know though, that peoples savings are worth a LOT less now because of all this quantitive easing rubbish after our banks messed up. The pound is worth **** all now compared to years ago. Plus inflation coupled with very low interest rates mean your money doesnt go very far in the UK. Hence moving elsewhere.

It backfired for this woman, yeah. But she would probably have been in the same situation had she stayed here

[arista]

From SkyNewsHD Live out there
the reporter said the Parliament is split on this
if they do not go ahead with the 10% Cull
then the Massive EU loan will halt,
and Cyprus would then go like Greece.

[joeysteele]

I dont know about any of that :p

I do know though, that peoples savings are worth a LOT less now because of all this quantitive easing rubbish after our banks messed up. The pound is worth **** all now compared to years ago. Plus inflation coupled with very low interest rates mean your money doesnt go very far in the UK. Hence moving elsewhere.

It backfired for this woman, yeah. But she would probably have been in the same situation had she stayed here

You've made very valid points, she made that choice, now it's backfired it's no use looking for or expecting any major special treatment.
She likely also isn't that bothered as to those who are losing out bigtime here in the UK as you say.

[Kizzy]

Isn't this just glorified theft..dipping into peoples saving accounts?
If you work and pay tax on your salary, and save what you can from that, why is this then classed as free money?..

[arista]

Isn't this just glorified theft..dipping into peoples saving accounts?
If you work and pay tax on your salary, and save what you can from that, why is this then classed as free money?..


Yes many locals say that.
And nothing is going on tomorrow
as its a Holiday day.

So by Tuesday
Some may have weapons
for the banks

[Iceman]

Just reading up on Ireland's bailout progress because this thread reminded me....

http://www.irishtimes.com/business/economy/ireland/lagarde-says-good-news-on-the-horizon-for-ireland-and-praises-fiscal-policy-1.1320337

Didnt even hear about this when it first came out.....brilliant news for everyone if we get our exit done properly...

[Kizzy]

Yes many locals say that.
And nothing is going on tomorrow
as its a Holiday day.

So by Tuesday
Some may have weapons
for the banks

I don't know how it can be legal...
Surely they must have known this would cause a run on the banks?

[Shasown]

I agree there's nothing wrong with that, but she shouldn't come crying home to the UK when things go wrong. If you choose to move away, you shouldn't be coming home crying when things don't work out for you. If you choose to make your home in Cyprus then that is your home now. You can't just call yourself a Brit again when the going gets tough in yur new home over seas.

Wow am impressed, you read a newspaper article and are aware of some important facts.

Has she come home?

Is she actually crying about it?

She hasnt turned in her passport, has she?

Did she call herself anything other than British? If she did what did she call herself?

She is British, she lives in Cyprus, she was asked for a quote by a newspaper and gave one, is all the information I can garner from that piece.

Got any links or proof for any of your assertions?

Or were you just assuming? Mr Fordsworthe's original quotation springs to mind.

TTCHCOTP

[Kizzy]

Wow am impressed, you read a newspaper article and are aware of some important facts.

Has she come home?

Is she actually crying about it?

She hasnt turned in her passport, has she?

Did she call herself anything other than British? If she did what did she call herself?

She is British, she lives in Cyprus, she was asked for a quote by a newspaper and gave one, is all the information I can garner from that piece.

Got any links or proof for any of your assertions?

Or were you just assuming? Mr Fordsworthe's original quotation springs to mind.

TTCHCOTP

Is that greek?...:laugh:

[Nedusa]

This is the last resort tactic of a Bankrupt Capitalist banking elite. They are using Cyprus as a test case to see how quickly people accept this or what level of public disorder it causes. There comes a point when direct and indirect taxation does not bring in enough money and the only way to balance the books is take money directly out of people's savings accounts. And this is across the board so everyone who has money in these types if accounts will suffer. But truly rich people won't suffer as their money is safely invested elsewhere.

This is theft on a grand scale and I hope ALL the people who stand to lose money over this cause massive public protests. I hope also that the majority of people with money saved in Cyprus collectively threaten to withdraw their assets which could cause a financial tidal wave in Cyprus and probably bankrupt the whole island.

This needs to happen because if Cypriots accept this then Greece, Spain and Portugal are next, this is the thin edge of the wedge and it could precipitate a financial collapse like the world has never seen, making the crash of 2008 look like a small financial irregularity...!!!

[arista]

"if Cypriots accept this then Greece, Spain and Portugal are next"


Yes thats could be the case.

The €uro Mess - never ends

[Kizzy]

The FSA here only guarantee the first £85'000 of anyones accounts so if our banks go under this will happen here.
Wonder if croatia are having second thoughts about joining the EU?...haha!

[Scarlett.]

Is this just the Southern Greek Cyprus we're talking about? It's quite annoying that news outlets only say "Cyprus", when there's two completely different sides of the island (Turkish and Greek)

[arista]

Its got Even Worse
now banks will not open until Thursday.

Fights will happen

[Shasown]

Is this just the Southern Greek Cyprus we're talking about? It's quite annoying that news outlets only say "Cyprus", when there's two completely different sides of the island (Turkish and Greek)

Yeah the greek side of the island is regarded as the Republic of Cyprus, the Turkish side is not recognised, there is only Turkey who officially recognises the Turkish Republic of Northern Cyprus.

However the economic crisis is affecting life in the north as well.

[arista]

http://media.skynews.com/media/images/generated/2013/3/18/227123/default/v2/tim011gm19-1-329x437.jpg

Now what is Russia going to do?
They would not dare bomb germany


http://media.skynews.com/media/images/generated/2013/3/18/227126/default/v1/bfrc755cmaaces-1-329x437.jpg

[Cherie]

This is pretty unbelievable really bankers are still getting huge bonuses, yet it is people who are prudent and have put away money for their retirement or just a rainy day who are being penalised, this money has already been taxed at source and then taxed again as a saver and to dip into savings without permission is unforgivable.

[arista]

This is pretty unbelievable really bankers are still getting huge bonuses, yet it is people who are prudent and have put away money for their retirement or just a rainy day who are being penalised, this money has already been taxed at source and then taxed again as a saver and to dip into savings without permission is unforgivable.


Before this went Public
Russian banks took out Millions (they had top secret info)


As a result Germany is saying Cyprus Banks
may need to take 15% out
of all accounts over 100K.


And what is going wrong even more is the Power
has to pass this in their Parliament
but other members may block it.
Whick means No EU billions Loan
and a Bankrupt nation.

Ref: SkyNewsHD, Ch4News, CNN Business, BBC News.

[Iceman]

Cyprus' finance minister resigns.

1 million euro is being flown out by the RAF to military personnel.

Crowds are gathering outside as are riot police.

[arista]

Yes Bad news they blocked the Leader
so Tomorrow is his last roll of the Dice.


The RAF Plane has loads Armed officers
as the locals could do with that.


Cash Machines are being topped up
but how long can they keep topping it up with Cash?

On Ch4News Live
in 10minutes the machine was empty
thats how fast the public take it out.

The Germany Embassy has been attacked.

http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/3/19/1363715138916/6887262d-b229-4b6b-8ec1-3ed6f72861ba-620x372.jpeg

[Iceman]

The parliament has rejected it....gonna be a huge run on the banks come thursday

[arista]

The parliament has rejected it....gonna be a huge run on the banks come thursday


Yes but Tomorrow The PM bangs heads together.

Germany will not back down
as Cyrprus failed to much.

Run on the bank - They may Not open on Thursday , now.


So its the Cash machines
but they run out in 10 or 20mins
as the public does not trust anyone.


This is far worse trouble that Ireland had


Ref: Ch4News , SkyNewsHD and Bloomberg

[Iceman]

Yes but Tomorrow The PM bangs heads together.

Germany will not back down
as Cyrprus failed to much.

Run on the bank - They may Not open on Thursday , now.


So its the Cash machines
but they run out in 10 or 20mins
as the public does not trust anyone.


This is far worse trouble that Ireland had


Ref: Ch4News , SkyNewsHD and Bloomberg

Big time and the fact we're doing good now proves it was the right thing to do by bailing us out. we're hitting targets and our budgets have been tough but fair in what we need to do to progress into a prosperous country again

[arista]

Big time and the fact we're doing good now proves it was the right thing to do by bailing us out. we're hitting targets and our budgets have been tough but fair in what we need to do to progress into a prosperous country again


Yes but as they are more near to the "King of the €uro "
Germany
so they have no trust.


Could this start a War?


http://media.skynews.com/media/images/generated/2013/3/19/227380/default/v1/guardian-1-329x437.jpg
Weds Paper

[lostalex]

Wow am impressed, you read a newspaper article and are aware of some important facts.

Has she come home?

Is she actually crying about it?

She hasnt turned in her passport, has she?

Did she call herself anything other than British? If she did what did she call herself?

She is British, she lives in Cyprus, she was asked for a quote by a newspaper and gave one, is all the information I can garner from that piece.

Got any links or proof for any of your assertions?

Or were you just assuming? Mr Fordsworthe's original quotation springs to mind.

TTCHCOTP


can i ask random questions with spaces in between?

how many different lines can i use?

will i seem more important and right by doing this?

what came first the chicken or the egg?

how much wood could a woodchuck chuck if a woodchuck could chuck wood?

[Kizzy]

Are you going to contribute to this thread alex?

[lostalex]

Are you going to contribute to this thread alex?

How dare you. :nono:

[Kizzy]

So who wants to bail out cyprus the most the EU or Russia?

[arista]

So who wants to bail out cyprus the most the EU or Russia?

http://upload.wikimedia.org/wikipedia/en/7/7e/International_Monetary_Fund_logo.svg


Its IMF cash so America its part of that funding
the clock is ticking - Germany is the Boss.

[arista]

The Banks will now Not Open tomorrow.


This will make the Locals More Angry

[Iceman]

then they definitely wont open friday...looking at Monday as a possibility...

[arista]

Now Russia is trying to a Deal with Cyprus
which could mean the UK troops to leave Cyprus.

Russia wants a share of the Gas in the near Sea
that Cyprus owns.

Germany is not happy with this deal.

Ref : Tim Marshall , Foreign Affairs (SkyNewsHD)

[the truth]

Every world leader needs to sit down and make rules that cover every bank on the planet concerning the libor rate, illegal trading, bank bonuses, crazy lending, repayment of government loans etc

every leader. Its the only way the entire world economy can be put back on track

[arista]

Germany says they have until Monday
then the loan stops.

So Germany or Russia?

Germany gives a loan of 10 Billion Euros (from IMF)

Russia gives Cash Loans for share of the Sea Gas.

They need to pick fast.

http://news.sky.com/story/1068020/cyprus-bailout-bank-workers-protest-before-vote


BBC news never said a word about Russia?

[arista]

Cyprus joined the €uro 5years ago
what a Dumb Move.

Should they Leave the €uro
by Monday?

And At least Ch4News Live , SkyNews Live and CNN Live
talks about the Russia Deal.
(Unlike the Bloated BBC)

[arista]

"Cyprus Delays Bailout Vote Amid Russian Rebuff
More turmoil spreads as a Greek Cypriot
vote on bailout plans is delayed and Russia
declines to help the troubled EU state."
http://news.sky.com/story/1068294/cyprus-delays-bailout-vote-amid-russian-rebuff

http://www.guardian.co.uk/business/2013/mar/22/eurozone-crisis-cyprus-bailout-russia-vote

http://www.telegraph.co.uk/finance/debt-crisis-live/9947568/Cyprus-bailout-live.html


"Bloomberg is reporting that Eurozone
finance ministers are pushing Cyprus
to hit large depositors at both of its
two biggest banks - Bank of Cyprus
and Laiki - with losses of up to 40%,
in an attempt to get a new bailout
deal agreed in time.
Under the plan, attributed to four European officials,
the two institutions would be
smashed together to create
a 'good' bank and a 'bad' bank"

Taken from Guardian Live Feed


http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/3/22/1363959371523/0385d5f7-5a83-4390-8b42-4fd384b23183-460x307.jpeg
A protester cries during an anti-bailout
rally by employees of Cyprus Popular Bank
outside the parliament in Nicosia today

[arista]

A German MP Live on Ch4News
said its Cyprus fault
their own mess.

He said they have until Monday
and its not Germany holding a Gun to their head
its them.

http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/3/22/1363987303687/-460x276.png


I wonder if they will get a Deal
by Monday?

[arista]

The Cypriot parliament has approved the legislation to restructure its banking sector.

That paves the way for Laiki, the nation's stricken second-largest lender, to be split into a good bank and a bad bank

[arista]

Cypriot president 'warned his friends to move money abroad' before financial crisis hit: Leader under fire as he faces just 4 days to save country from collapse

Read more: http://www.dailymail.co.uk/news/article-2297383/Cyprus-bailout-President-Nikos-Anastasiades-warned-friends-money-abroad.html#ixzz2OMF873Mt

http://i.dailymail.co.uk/i/pix/2013/03/22/article-2297383-18D3A8D3000005DC-617_306x423.jpg
Typical

http://i.dailymail.co.uk/i/pix/2013/03/21/article-2296805-18CE2611000005DC-713_634x424.jpg

[arista]

From Ch4News Live
the Cyprus Leader has now told Germany he will have to step down
over their plans.

Cyprus has Underwater Gas Supply
so they could leave the €uro
and use Dollars for now, and do their own money, again

[Mrluvaluva]

"A small explosion has taken place at a cash machine in Cyprus as a bailout agreement appeared to be "taking shape" in Brussels.

The home-made bomb went off in Limassol, according to reports."

Somebody's not happy to say the least......

[Mrluvaluva]

"A small explosion has taken place at a cash machine in Cyprus as a bailout agreement appeared to be "taking shape" in Brussels.

The home-made bomb went off in Limassol, according to reports."

Somebody's not happy to say the least......

[Nedusa]

This is Theft plain and simple....!!!!

[arista]

"Cyprus agrees €10bn bail-out deal with eurozone
Cyprus has agreed a last-ditch deal for a €10bn bail-out that will safeguard small savers, inflict heavy losses on uninsured depositors, including wealthy Russians, and keep the country in the eurozone. "

http://www.telegraph.co.uk/finance/financialcrisis/9951680/Cyprus-agrees-10bn-bail-out-deal-with-eurozone.html


Some will have up to 40% taken from their banks

http://www.guardian.co.uk/world/2013/mar/25/cyprus-bailout-deal-eu-closes-bank

[arista]

Banks are due to Open on Thursday
but Restrictions on amounts of Cash you can take.

Locals might want all their Euro's out of the Bank
but thats blocked

http://www.guardian.co.uk/business/2013/mar/26/eurozone-crisis-cyprus-banks

Bank workers are worried many jobs will go

[Cherie]

They might well apply this retrospectively to countries previously bailed out in the "interest of fairness" of course. If I was in one of those countries I would be inclined to start taking my money out now and putting it under the mattress.

[arista]

Fisticuffs in one hours time as the Banks open for the first time
you can only take out with 300 max each day.
So visits to the Bank Every Day for months to get it all out.