[Sirius]

Originally Posted by Chris

The only possible saving grace here is that they may have over-reached themselves and misjudged the size of the backlash. We can hope.

I am hoping that the President in Cyprus decides to grow a pair and say SOD IT lets pull out of the Euro and go without the bailout.

Somehow i don't think that will happen because the EU leadership don't want it to happen WHY. because If it happens the deck of cards will start to fall very quickly.

Infact the deck of cards may well and trully tumble

http://news.sky.com/story/1066004/cy...d-russia-offer

Cyprus has ordered its banks to stay shut until Thursday as the government seeks to alter the terms of a controversial EU bailout that taxes savings.

The uncertainty comes as Russia's finance minister said his country would consider restructuring its loans to Cyprus.

Russian energy giant Gazprom has also reportedly offered financial assistance to Cyprus in exchange for access to the island's gas reserves.

Eurozone countries across the region have seen markets shudder as a result of the weekend bailout offer, which includes a one-off tax on bank deposits, with many losing more than 2% and the FTSE dropping 1.6%.

Depositors in the eurozone's weaker economies have been unnerved by the levy, with investors fearing it will set a precedent that could reignite market turmoil.

Let battle commence