Cyprus-Forum.com

[boomerang]

Really you think the eu and Russia are on the same site?....amazing

You forgot the headlines from a few months back, on the Russians and money dirty business?...

Looking back now no doubt in my mind the eu all along wanted cyprus away from any Russian influence...all the recent talks about NATO should have been a hint...

The Spanish prime minister saying, or someone from spain anyway saying this can't happen to spain because Cyprus is a different case...

Ask yourself who will lose the most on this tax levy....the eu is making sure Cyprus burns it's bridges with Russia...no doubt in my mind...

Further facts is the 10B bailout...no one is discussing it...how is the money gonna be spent?...what program's are the imf and eu are putting in place...what demands are they making?...they did I it with Ireland and Greece...but for Cyprus here take the money and nothing else...like payout for the service...

[kurupetos]

There's a difference between Russian investors/money launderers and Russian government. Otherwise they would have kept their money in Russia.

[boomerang]

We are talking Russian influence....it all started back with all the headline about Russian this and Russian that...not mentioning our own Russian Cypriot comrade el presidente...

Lets face it...unless the roc takes the bailout and and starts on program of repaying back what it took from the haircut, we are well and truly screwed.....

[johnny1]

why dont they just take watever the amount is offered...do wat they have to do with it...pay there bonuses and high salaries..then see wat happens...
and leave there dirty theiving hands off the peoples hard working deposits.
now its prettty clear that they would rather take from the poor mans account thatn the richer mans..

[GreekIslandGirl]

Really you think the eu and Russia are on the same site?....amazing

Yesterday:

Russia and the European Union may be expected to sign an agreement to ease the visa regime between them as early as later this year.
This would make it easier to issue both short-term and multiple visas, the Russian Ambassador to the European Union, Vladimir Chizhov, said in an interview with the ITAR-TASS news agency.

4 days ago:

EU leaders concluded their two-day summit today (15 March) with an informal discussion on Russia, largely intended as a brainstorming session to prepare an EU visit to Moscow next week aimed at ‘exploring areas of mutual interest'. Much of the debate focused on energy, which EU leaders will discuss during a special summit on 24 May.

[johnny1]

read this from the bcc;




Nearly everyone involved in the deal for Cyprus hammered out on Saturday now agrees it was a mistake. What we don't know, yet, is how big.

Goodness knows, the European authorities have made mistakes before in their handling of the eurozone crisis.

Some, like the initial reluctance to bail out Greece in 2010, seemed very damaging at the time but were ultimately fixable.

Others, like the Franco-German announcement, in the autumn of 2010, that private sector creditors would face haircuts in all future rescue programmes, were a slow burn.

There was initially a muted reaction to this from the markets. But once investors had fully digested the consequences, the fears of bondholders effectively forced the Irish into a bailout.

The G20 summit in Seoul at the end of that year was devoted to picking up the pieces. And the German effort to "bail in" the private sector was set back years.

Needless to say, the authorities will be hoping that the Cyprus mistake is in the first category, not the last.

They are hoping that in a week's time people outside Cyprus, at least, will consider this just another messy bump in the road, in a tiny eurozone country, to which global investors have never previously given a second's thought.

Trust in banks

How likely is that? Well, depositor confidence is a precious and deeply unpredictable thing. But so far in the eurozone crisis, it has proved remarkably robust in countries such as Spain and Greece.

We have seen deposits flee these countries - but not the flood that many have darkly predicted.

“
Start Quote
Depositors and investors noticed very quickly that this deal broke all the rules”
End Quote
You could say that the lesson of the past few years is that even angry voters really, really want to trust their banks. Just like we all really want to trust our doctors.

But, as Alistair Darling pointed out on the BBC's Today programme this morning, once you do finally lose that trust, it can be very difficult indeed to get it back.

He found that out the hard way. The herd mentality takes over - indeed, joining the herd becomes the rational thing to do.

As I say, we don't know yet whether the damage done in the past few days will turn out to be fixable. But we can say everyone seriously miscalculated.

The ECB wasn't happy with the deal from the start. Even the Germans weren't exactly happy about it - they would rather have not been bailing out Cypriot banks at all.

But they and the IMF all hoped that Cyprus would be considered a special enough case that people would not look too closely at the precedents that were being set.

Blame on Brussels

In fact, as Robert Peston pointed out yesterday, depositors and investors noticed very quickly that this deal broke all the rules. Of course they did.

The negotiators on the Cyprus side also got it wrong. Awful though the levy was, the Cypriot president thought he would be able to blame all of it on Brussels and Frankfurt. Unfortunately for him, Brussels and Frankfurt felt differently.

Officials had been surprised, in the negotiations in Brussels, that the Cyprus side were willing to impose such a high levy on the poorest savers, in order to limit the "sticker shock" for Russian high rollers with holdings of more than 100,000 euros.

On Sunday, they were quick to share that surprise with well-placed journalists, just as the Cyprus government was trying to dump everything on Berlin.

It is still quite possible that this will turn out to be containable, that the only lasting damage to depositor confidence will be in Cyprus itself. For that to happen, it would help if the European authorities could explain more clearly why this will not set a precedent a future.

It would be especially reassuring if the Germans explained, convincingly, why this does not reflect any toughening in the country's approach to bailouts.

But for either of those explanations to be convincing, they probably need to be true. I think Germany, at least, will want to tough it out.

[boomerang]

Really you think the eu and Russia are on the same site?....amazing

Yesterday:

Russia and the European Union may be expected to sign an agreement to ease the visa regime between them as early as later this year.
This would make it easier to issue both short-term and multiple visas, the Russian Ambassador to the European Union, Vladimir Chizhov, said in an interview with the ITAR-TASS news agency.

4 days ago:

EU leaders concluded their two-day summit today (15 March) with an informal discussion on Russia, largely intended as a brainstorming session to prepare an EU visit to Moscow next week aimed at ‘exploring areas of mutual interest'. Much of the debate focused on energy, which EU leaders will discuss during a special summit on 24 May.

What's this go to do with the price of fish....

It's more than obvious that the tax levy on savers was aimed at the Russians...it started last year with all the negative headlines....eu aim is two fold...smash the Russian influence by destroying the relationship and aligning Cyprus with the eu....lets not forget NATO membership....which country in NATO is influence by Russians...can you name one?....

And how come on the 10B the eu and the IMF laid no austerity plans like they did to Greece....ask your self why....

Just don't be surprised one day you hear of Russian jumbos landing at ercan...

As I said earlier the best case scenario is for Cyprus to take the bailout money and start thinking on how it can pay the haircuts back...but so far no discussion on the 10B...

[sven]

You got Turks on your mind.....the eu plan is to separate Cyprus from Russia....the decision has been made on bank haircuts...the discussion has moved on how much to burn the Russians...10% or 15% is neither here or there and is not the issue at hand...the issue at hand is how the Russians going to retaliate...start swarming the north perhaps?...start landing jumbos at ercan?....what do you think?

In my humble opinion try and limit the damage to your best customers....the roc needs to take the hit...the Cypriots as most benefitted from the Russian bonanza, should accept the one time hit...start privatising, slimming the government, etc...use the 10 B euros to actually do something...for compensating the people....

Too much is discussed on the haircut but nothing on the 10B bailout...the way it's looking the roc will be in the same position 5 years from today....

I disagree that this is to separate Russia from Cyprus. I think there are signs that Russia and the EU are coming together. This scheme is complicated because they are taking into account how much Russian money is in the banks and they are having to liaise with Russia how to incorporate their demands with the needs of the EU and Cyprus.

If it all works out - and someone has remembered Cyprus needs Freedom from the Turks in all this excitement - there will be a lot of countries helping drive Cyprus and I hope, driving the Turks OUT!

When the Gas is gone - so will all the commotion/interest; so by then, we have to have achieved OUR aim!

I agree, in some respects, it is more of a 'Good Cop, Bad Cop' scenario, it is game that AUTHOURITY likes to play, it is a way of getting what they want, and they don't care how they get it. Scale it up and 'hey presto', the ECB gets to steal directly from your Bank accounts across Europe and Russia gets the Gas 50 billion' ish Euro, in the meantime the CRIMINAL ELITE get to create tensions in the region, and has that look of an 'eye fluttering' moment when the eyeballs look upwards, thinking about all the Arms sales it can generate.

[sven]

According to the BBC NEWS

less than 20,000 = 0%, 20,000 to 100,00 = 6.75%, over 100,000 = 9.9%

so almost no change there then, still planning on the theft. They need the precedent to steal direct from your account and will not drop it and will conitnue with the plan.

15.05 Former governor of the Cypriot central bank, Anthanasios Orphanides has launched an powerful rebuke towards Cyprus's European creditors, branding their actions tantamount to blackmail. Speaking to Bloomberg TV, he said:

We are witnessing historic times. What we're witnessing is the slow death of the European project. We are in a situation where some European governments are essentially taking actions that are telling citizens of other member states they are not equal under the law.

What we have seen for the last few days is a very serious blunder by European governments that essentially are blackmailing the government of Cyprus to confiscate the money that belongs rightfully to depositors in the banking sector in Cyprus.

The way the strongest governments of Europe have blackmailed the Cypriot government to confiscate deposits is essentially sending a message that no-one with deposits in a small country like Luxembourg should feel safe about their deposits. No-one with deposits in a weak country, like Spain, should feel safe about deposits.

Decisions like this, much like the decision to haircut Greek debt in October 2011, actually benefit some countries. For example as we’ve seen from markets yesterday a decision like this reduces the financing costs for the German government so the German government can now borrow at negative rates as a result while it inflicts pain on other countries. Not everybody is equal under the law the way European governments are behaving these days.

This is why I worry about the future of Europe.

[kurupetos]

The House of Representatives may not ratify the agreement.

Who said that? Oh, moi!