Cyprus-Forum.com

[bill cobbett]

CY is a "special case"...!!!

Well, it's something we hear every day from Draghi of the ECB... CY is a "special case"

The ECB was established by a Council Regulation amongst whose terms is the requirement to treat all members of the Eurozone as equals, whether they be big or small. The equal treatment requirement together with the words big or small appear on the ECB web-site.

So isn't this oft repeated claim that CY is a "special case" a daily admission, in a very clearcut case, by the ECB that it has acted against its legal duty, that it has acted illegally by treating CY differently from the other members of the Eurozone.

... and where an institution of the Union has so flagrantly acted outside its remit, it must be brought to account.

[B25]

Quite Bill, but we don't have any competent organ within the RoC government to deal with this. Seems they (RoC) are happy to go along with this haircut, to write off their own f ups and not to mention loans to family and friends.

So why aren't we screaming at the EU, ECJ, ECHR or any other body to listen?

This is my burning question.

[Cap]

Hang on a minute....
I'm having a deja vu moment. Something along the lines of.....

Your banks are toast.

[Cap]

I have a theory that all Germans are just lazy good for nothing so and sos and have no one else to blame but themselves.

Maybe Merkel should introduce a Cyprus style levy to all accounts above 100,000.

Should work a treat!

[repulsewarrior]

I have a theory that all Germans are just lazy good for nothing so and sos and have no one else to blame but themselves.

Maybe Merkel should introduce a Cyprus style levy to all accounts above 100,000.

Should work a treat!

They should also stop laundering money and reduce the size of their banking sector.

...better still, the should stop being the ones who corrupt and bribe, as well as stop laundering, and stop laundering their own money.

[bill cobbett]

Quite Bill, but we don't have any competent organ within the RoC government to deal with this. Seems they (RoC) are happy to go along with this haircut, to write off their own f ups and not to mention loans to family and friends.

So why aren't we screaming at the EU, ECJ, ECHR or any other body to listen?

This is my burning question.

Yes, quite right file...and we should expect the Gov of the Republic to do what it does best, which is to do bugger all.

So a referral to the ECJ on the mess can then only come from one of the bigger private depositors who have lost out in such mega ways.

Practically every day for weeks the CY negotiations were described as a mess on the part of the EU and ECB... so described by dozens of commentators in dozens of articles... and where there are messes there are potentially lucrative returns for an island packed with lawyers...

[bill cobbett]

This Draghi of the ECB is squirming boys and girls...

He has realised the illegality of the first proposals and is trying now to spin things to distance that first plan from the ECB. This was the first plan to hit insured depositors of less than 100,000E.

Here is what the BBC reports he is now saying...

http://www.bbc.co.uk/news/business-22024610

...The initial plan to make small savers pay for the Cyprus bailout was "not smart", the European Central Bank (ECB) president has said.

ECB president Mario Draghi said a proposal to make "insured depositors" pay did not come from the ECB, the European Commission or the IMF.

He said the proposal only arose in talks with the Cypriot authorities, and was "swiftly corrected"...

Swiftly corrected by the CY Parliament, Mr Draghi, it was CY MPs who threw out a plan that had the ECB's name on it.

It deffo wasn't smart for the ECB to have any hand in that plan Mr Draghi... as you'll hopefully find out.

[cyprusgrump]

This Draghi of the ECB is squirming boys and girls...

He has realised the illegality of the first proposals and is trying now to spin things to distance that first plan from the ECB. This was the first plan to hit insured depositors of less than 100,000E.

Here is what the BBC reports he is now saying...

http://www.bbc.co.uk/news/business-22024610

...The initial plan to make small savers pay for the Cyprus bailout was "not smart", the European Central Bank (ECB) president has said.

ECB president Mario Draghi said a proposal to make "insured depositors" pay did not come from the ECB, the European Commission or the IMF.

He said the proposal only arose in talks with the Cypriot authorities, and was "swiftly corrected"...

Swiftly corrected by the CY Parliament, Mr Draghi, it was CY MPs who threw out a plan that had the ECB's name on it.

It deffo wasn't smart for the ECB to have any hand in that plan Mr Draghi... as you'll hopefully find out.

Hang him!

[bill cobbett]

This Draghi of the ECB is squirming boys and girls...

He has realised the illegality of the first proposals and is trying now to spin things to distance that first plan from the ECB. This was the first plan to hit insured depositors of less than 100,000E.

Here is what the BBC reports he is now saying...

http://www.bbc.co.uk/news/business-22024610

...The initial plan to make small savers pay for the Cyprus bailout was "not smart", the European Central Bank (ECB) president has said.

ECB president Mario Draghi said a proposal to make "insured depositors" pay did not come from the ECB, the European Commission or the IMF.

He said the proposal only arose in talks with the Cypriot authorities, and was "swiftly corrected"...

Swiftly corrected by the CY Parliament, Mr Draghi, it was CY MPs who threw out a plan that had the ECB's name on it.

It deffo wasn't smart for the ECB to have any hand in that plan Mr Draghi... as you'll hopefully find out.

Hang him!

... from his goolies... after he's made over billions to CY for destroying the CY Banking industry.

[repulsewarrior]

Draghi, too "big" to fail; that's why he hasn't resigned yet.