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-   -   Eurozone will collapse... (https://www.cableforum.uk/board/showthread.php?t=33678876)

Osem 19-03-2013 21:37
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Damien (Post 35550619)
Put the money in American banks! They're on the up and they would overthrown the Government if they tried to take their money in such a way.

Quote:
JP Morgan accused by Senate panel of flouting rules and ignoring regulators

Senators say bank believed it was too big to fail while regulators deny bosses' claims that bank told them of mounting losses
http://www.guardian.co.uk/business/2...trading-losses

http://en.wikipedia.org/wiki/2012_JP...e_trading_loss

Some are more on the up than others. ;)

Qtx 19-03-2013 21:38
Re: Eurozone will collapse...
 
Probably a few countries hoping the bank account tax works in Cyprus so they can do the same in their own. Free money from nowhere and a tax they can claim is in our best interest, like most other tax schemes.

Osem 19-03-2013 21:39
Re: Eurozone will collapse...
 
The banks are already making money out of savers by paying them such poor rates.

Damien 19-03-2013 21:42
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Osem (Post 35550677)
The banks are already making money out of savers by paying them such poor rates.
Well that's a point. It's kind of happening with low interest rates...

Chris 19-03-2013 22:26
Re: Eurozone will collapse...
 
So, thinking about what happens to Cypriot banks when they reopen, which at some point they will have to. Will the vote in the parliament quell depositors' concerns, or is the country about to experience the great granddaddy of all bank runs?

Derek 19-03-2013 22:29
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Chris (Post 35550697)
Will the vote in the parliament quell depositors' concerns, or is the country about to experience the great granddaddy of all bank runs?
I'll go for option B. if I worked in a Cypriot bank I think Thursday might be the best day ever to throw a sickie.

Damien 19-03-2013 22:30
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Chris (Post 35550697)
So, thinking about what happens to Cypriot banks when they reopen, which at some point they will have to. Will the vote in the parliament quell depositors' concerns, or is the country about to experience the great granddaddy of all bank runs?
Surely they won't reopen them until they've made it clear the deposits are safe? It would be brutal if they opened tomorrow as normal.

Chris 19-03-2013 22:33
Re: Eurozone will collapse...
 
Well I hope the RAF airfield is well-defended in that case. That plane carrying a million Euros has just landed. :erm:

---------- Post added at 22:33 ---------- Previous post was at 22:31 ----------

Quote:
Originally Posted by Damien (Post 35550703)
Surely they won't reopen them until they've made it clear the deposits are safe? It would be brutal if they opened tomorrow as normal.
Sooner or later they will have to open, or else they'll collapse the economy through people simply not being able to buy anything.

It's a tough call. You're right, they may want to take some time to try to calm things down, but conversely the longer they string out the crisis, the more rational it becomes to withdraw all your cash as soon as you can.

TheDaddy 20-03-2013 06:37
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Chris (Post 35550705)
Well I hope the RAF airfield is well-defended in that case. That plane carrying a million Euros has just landed. :erm:

---------- Post added at 22:33 ---------- Previous post was at 22:31 ----------



Sooner or later they will have to open, or else they'll collapse the economy through people simply not being able to buy anything.

It's a tough call. You're right, they may want to take some time to try to calm things down, but conversely the longer they string out the crisis, the more rational it becomes to withdraw all your cash as soon as you can.
Or perhaps they won't be opening again after all

http://news.uk.msn.com/world/cyprus-banks-may-never-reopen

Chris 20-03-2013 08:57
Re: Eurozone will collapse...
 
Quote:
Originally Posted by TheDaddy (Post 35550800)
Or perhaps they won't be opening again after all

http://news.uk.msn.com/world/cyprus-...y-never-reopen
I might have guessed Schaeuble would be behind comments like that. The man's a complete idiot. He really should know better than to talk up a crisis like that - he could actually end up making it worse.

Sirius 20-03-2013 12:53
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Chris (Post 35550840)
I might have guessed Schaeuble would be behind comments like that. The man's a complete idiot. He really should know better than to talk up a crisis like that - he could actually end up making it worse.


How and why can Germany make statements like that. Its not there place to say that banks might NEVER reopen.

Chris 20-03-2013 18:48
Re: Eurozone will collapse...
 
http://www.bbc.co.uk/news/world-europe-21855163
Quote:
Cypriot officials have said the country's banks, which were closed to prevent mass withdrawals, will remain shut until at least Tuesday.
On Wednesday afternoon the cabinet began an emergency meeting to discuss alternatives to an EU-IMF bailout deal rejected by parliament on Tuesday.
Reports say the government is considering imposing capital controls when banks are reopened.

Damien 20-03-2013 19:12
Re: Eurozone will collapse...
 
Probably going to keep them shut until Russia comes up with the cash.

Chris 20-03-2013 19:34
Re: Eurozone will collapse...
 
There is a danger here that Cyprus could end up with Russian financial aid in exchange for Russian access to gas fields in Cypriot waters. I will be utterly amazed if the EUro-idiots in Brussels and Berlin are so stupid and short sighted that they allow Russia to take effective control of yet more gas, especially when that gas is currently within the territory of a European country and as things stand there is absolutely no need for it to become subject to Vladimir Putin and his penchant for turning the taps off when things don't go his way.

But then, this entire crisis is the result of EUro-stupidity anyway, so perhaps there's nothing left that is genuinely amazing or shocking.

Sirius 20-03-2013 19:39
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Chris (Post 35551167)
There is a danger here that Cyprus could end up with Russian financial aid in exchange for Russian access to gas fields in Cypriot waters. I will be utterly amazed if the EUro-idiots in Brussels and Berlin are so stupid and short sighted that they allow Russia to take effective control of yet more gas, especially when that gas is currently within the territory of a European country and as things stand there is absolutely no need for it to become subject to Vladimir Putin and his penchant for turning the taps off when things don't go his way.

But then, this entire crisis is the result of EUro-stupidity anyway, so perhaps there's nothing left that is genuinely amazing or shocking.
I honestly hope that Cyprus pulls out of the Eurowreck and sets a precedent.


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