Re: Eurozone will collapse...
 

You could not write a better Hollywood script :D

http://www.bbc.co.uk/news/business-21920574

What really cracks me up is there are people in this country who want to sign up our country to this group of snake oil salesman.

Well done the EU your have made my day :D

http://news.sky.com/story/1069588/cy...-eurozone-deal

Cyprus Bailout: Public Anger At Eurozone Deal

I have said it before and i am saying it again, i would not like to be a German holiday maker in Cyprus at the moment.

Re: Eurozone will collapse...
 

Yes the cat's been well and truly let out of the bag by this guy but it's nothing those of us with who can see beyond the end of our noses didn't already know. Apparently he's backtracking and blaming misquotes now but who on earth would believe anything these people say given what's been going on? They're living in a world of their own and if they don't change tack sooner or later they're going to be a massive reaction to their delusional centralist nonsense.

---------- Post added at 20:02 ---------- Previous post was at 20:02 ----------

Our resident mattress expert ceased trading sadly...

Re: Eurozone will collapse...
 

Have a feeling you are not referring to something as simple as booby-trapped sunbeds here... :Sprint:

It is common practise in many different arenas to target or bully the small fry who can't fight back and then to use the catch as precedence for larger fish. File sharing for example should be insignificant compared to europes economy but at the same time the US government seems to interfere just as much in each

Re: Eurozone will collapse...
 

It's still bugging me as to why raiding peoples accounts was deemed the only acceptable policy in this case when it wasn't considered for any other bailout plan

Re: Eurozone will collapse...
 

I suggest the Eurocrats forgo some of their lavish pay, perks and treats in the common good, how about that? I mean there's precious little sign of austerity around Brussells is there.

Re: Eurozone will collapse...
 

Small country or taking Russians money? The answer will be multifaceted

Re: Eurozone will collapse...
 

Other countries found a way to raise their share of the bailout plan whereas Cyprus couldn't.

Re: Eurozone will collapse...
 

I think we should 'out' Damien as a paid employee of the EU working in its German based PR dept... :D

Re: Eurozone will collapse...
 

Which the EU were glad of as it has setup the next bailout procedure nicely. ;)

Re: Eurozone will collapse...
 

Or as someone who tries to provide a balanced view, even when it may be unpopular....;)

Re: Eurozone will collapse...
 

What was the Greek share for rescuing their country? Perhaps if the banks hadn't been asked to take 50% losses on Greek debt, then matbe the Cypriot banks would have been in better shape and it could of prevented all this bother.

Just wait until the Spanish banks(especially the local ones, the caja) finally reveal their true levels of debt.

Re: Eurozone will collapse...
 

The reality is that this was a difficult and complicated scenario which had no easy answers and whose cause will be reflected upon for many months. People can engage with anti-German retoric or conspiracy theories but what they cannot do is come up with an alternative answer to how to solve this case. What else could have been done? Each other outcome was imperfect, ripe for conspiracy theorists, and would have caused harm. Cyprus were never going to walk away from this in a way which would have pleased it's people.

The dye was cast when the banks collapsed. As far as I am aware none of the other countries that have required an EU Bailout had such a distorted offshore banking industry. It meant that the banks could take the entire country with it and made the politics of the bailout especially difficult.

Re: Eurozone will collapse...
 

That's just the Mod in you talking Herr Hugh. ;)

Re: Eurozone will collapse...
 

I believe Greece privated some assets that were they owned and could make substantial savings by having an austerity program. They had generous entitlements and low tax revenues (because people weren't paying tax) so could come up with a plan to raise their contribution. Remember though that a bunch of creditors that to write off their money as well and, as you say, that included Cyprus.

Greece though had some advantages. They were big enough to bring down the Eurozone. Cyprus were not and there was little exposure to their debt to bring down banks elsewhere, they also had the disadvantage of increasingly bailout fatigue in the other European Countries.

Re: Eurozone will collapse...
 

seems that the cypriot government have bottled it and won't re-open banks before thursday now and will place restrictions on moving money .

Doesn't matter when they re-open them they are just delaying the inevitable