Eurozone will collapse...

[Sirius]

Originally Posted by idi banashapan

http://www.liveleak.com/view?i=ebe_1363460771

gotta love this guy. he always talks sense.

Well his party will get my vote and i feel a lot of people's votes come the next election.

And final update for the day

http://www.bbc.co.uk/news/world-europe-21824495

Cyprus President Nicos Anastasiades says he is battling against eurozone demands that all bank customers pay a one-off levy in return for a bailout.

Mr Anastasiades said he shared people's unhappiness with the terms, whereby all bank customers would pay a levy of 6.75% or 10% on their bank deposits.

i think someone has finally woke up to a pot of coffee, however the fact he proposed it in the first place will be the end of his political career i feel. However Germany will not let him off that easily because what Germany wants Germany gets

Originally Posted by Sirius

i think someone has finally woke up to a pot of coffee, however the fact he proposed it in the first place will be the end of his political career i feel. However Germany will not let him off that easily because what Germany wants Germany gets

Germany are the ones that have to provide the money. If they don't want it they don't get it. Simple. Calm down with the Anti-German sentiment.

[Sirius]

Originally Posted by Damien

Germany are the ones that have to provide the money. If they don't want it they don't get it. Simple. Calm down with the Anti-German sentiment.

I don't like Germany its as simple as that and i certainly don't trust them.

[Qtx]

Germany and France should both be put on the naughty step after the amount of interfering they have done in the eurozone the last couple of years. Worked out well for Sarkosy and Merkel in the end...or not.

There have been claims that half of the money in Cyprus banks belongs to Russian money launderers. This raises a few questions like if they knew this before, why are they only saying so now. Is it to make everyone feel ok that up to 10% is coming out of each persons bank account? Its criminals money so don't feel bad for them kind of thing?

If there is such a big percentage of a countries money being crime based, it sends the message that crime does indeed pay.

Most annoying this is the banks and bankers still getting away scott free from all this. The greedy banks still issuing £40 over-draught fee's if you go 50p overdrawn.

[Sirius]

Originally Posted by Qtx

Germany and France should both be put on the naughty step after the amount of interfering they have done in the eurozone the last couple of years. Worked out well for Sarkosy and Merkel in the end...or not.

There have been claims that half of the money in Cyprus banks belongs to Russian money launderers. This raises a few questions like if they knew this before, why are they only saying so now. Is it to make everyone feel ok that up to 10% is coming out of each persons bank account? Its criminals money so don't feel bad for them kind of thing?

If there is such a big percentage of a countries money being crime based, it sends the message that crime does indeed pay.

Most annoying this is the banks and bankers still getting away scott free from all this. The greedy banks still issuing £40 over-draught fee's if you go 50p overdrawn.

Personally i think this is the start and that Cyprus will reject the bailout and leave the Eurozone. I do hope so as it will be the start of the end for the Euro.

[boroboi]

Originally Posted by Sirius

Well his party will get my vote and i feel a lot of people's votes come the next election.

And final update for the day

http://www.bbc.co.uk/news/world-europe-21824495



i think someone has finally woke up to a pot of coffee, however the fact he proposed it in the first place will be the end of his political career i feel. However Germany will not let him off that easily because what Germany wants Germany gets

Indeed. Farage is quite a breath of fresh air, openly speaking about the corrupt EU where no one else would dare.

The sooner we get out the better. We need a new parliament, new ideas. Out with the stagnant "three" parties. Vote in someone who will actually have the population in mind and not his own ideals and self interests.

Originally Posted by Qtx

Germany and France should both be put on the naughty step after the amount of interfering they have done in the eurozone the last couple of years. Worked out well for Sarkosy and Merkel in the end...or not.

They have interfered by demanding conditions to the money they're having to stump up to those countries. If you're bailing out another country at the German taxpayers expense then you're going to want to impose some conditions to ensure the money is not chucked down a bottomless pit. This would be expected by the German voters, who are paying for this, and to avoid having to bail them out again 6 months down the line.

[nomadking]

Haven't the financial problems in Cyprus mainly come from their Banks effectively propping up the Greek Government ie buying Greek Government debt. If the Cypriot banks hadn't done that, then the Greek problems may had started years before they eventually did.

[Sirius]

Originally Posted by nomadking

Haven't the financial problems in Cyprus mainly come from their Banks effectively propping up the Greek Government ie buying Greek Government debt. If the Cypriot banks hadn't done that, then the Greek problems may had started years before they eventually did.

Being a member of the Eurozone does not help because lets face it that currency for most is toxic. Cyprus was a financially well run country when i last visited and they were using there own currency at that time, however since then they have joined the Euro and are now controlled by that currency.

http://www.bbc.co.uk/news/world-europe-21825981

Vladimir Putin, the president of Russia, whose banks and businesses have significant deposits in Cyprus, on Monday called the levy "unfair, unprofessional and dangerous", his spokesman said.

'People betrayed'

If the deal is defeated in Cyprus' parliament, state media say banks could be closed on Tuesday so as to avoid mass withdrawals.

Sue Hall runs a wedding business in Cyprus: "Most of the money in my business deposit account belongs to couples who are to get married"

I hope Germany and France are happy with how they are treating the smaller countries

[Ramrod]

link

The principle that there is no division between your private property and communal property which may be appropriated by the government whenever it sees fit is an outrageous one in any system other than Communism. The idea that a government which has chronically misspent may order the banks to close and deduct a sum of its choosing from a person's balance before allowing it to re-open is beyond parody.

[Sirius]

Originally Posted by Ramrod

link

I said the other day that the EU is turning into a close relative of Soviet Russia in the old days. "Whats yours is mine but whats mine is my own". !

Have they started implementing the good old 5 year plan yet .

The decision to expropriate Cypriot savers – even the poorest – was imposed by Germany, Holland, Finland, Austria, and Slovakia, whose only care at this stage is to assuage bail-out fatigue at home and avoid their own political crises.

The EU creditor states have at a single stroke violated the principle that insured EU bank deposits of up $100,000 will be guaranteed come what may, and in doing so they have more or less thrown Portugal under a bus.

http://blogs.telegraph.co.uk/finance...-to-haunt-emu/

---------- Post added at 13:49 ---------- Previous post was at 13:45 ----------

Originally Posted by Sirius

I hope Germany and France are happy with how they are treating the smaller countries

Not France - not this time, anyway - they are in danger of needing a bail-out themselves at some point. The creditor states are the ones identified in my quote above.

[Osem]

As I've said before, they're making up the rules as they go and in so doing, showing that we can rely on little or nothing they say. Engineering a crisis to get what they want? Certainly the way to overcome public opposition is to quash it using extraordinary powers in response to growing public disquiet and resentment across Europe.

Originally Posted by Osem

As I've said before, they're making up the rules as they go and in so doing, showing that we can rely on little or nothing they say. Engineering a crisis to get what they want? Certainly the way to overcome public opposition is to quash it using extraordinary powers in response to growing public disquiet and resentment across Europe.

They're doing it because they have to give another country more money and they have to worry about the people who elect them. I don't think there is anything more sinister than that at play.

I agree it's a stupid move and hopefully it will be rejected and new terms come up. However I don't think it's especially sinister for the people who are stumping up the money to ask for concessions in return. It just seems like anti-German feeling needing an outlet. Germany can just tell these countries to get lost. They can't be that exposed to Cypriot debt.

Originally Posted by Damien

They're doing it because they have to give another country more money and they have to worry about the people who elect them. I don't think there is anything more sinister than that at play.

I agree it's a stupid move and hopefully it will be rejected and new terms come up. However I don't think it's especially sinister for the people who are stumping up the money to ask for concessions in return. It just seems like anti-German feeling needing an outlet. Germany can just tell these countries to get lost. They can't be that exposed to Cypriot debt.

The problem is not the fairness In principle of a quid quo pro imposed on the Cypriot State - it's the precise nature of it. They are proposing an arbitrary expropriation of the private wealth of citizens. As someone observed earlier, that is an utterly outrageous course of action anywhere except within a Communist State.

The first $100,000 of any private individual's bank savings are supposed to be absolutely guaranteed safe against the risk of a bank going bust, yet here the EU is proposing to take away up to 10% of those savings as part of the deal to prevent the bank going bust. It is perverse in the extreme.