Eurozone will collapse...

[mertle]

just wondered if this raid on tax haven. Awhile back was there talks in G20 on tax havens, this may been planned by G20.

Some those who used cyprus tax haven who going to lose out big.

http://www.guardian.co.uk/world/2013...de-cyprus-home

[Sirius]

Originally Posted by Damien

Sirius if we were the ones that were bailing out other countries would you want the Government to seek to attach conditions or not? Germany would much rather not be doing this, their population is not that happy that they're seeing their money being used to bailout other countries.

This condition is universally agreed as stupid but the idea of Cyprus coming up with some, just some, not even half, of the money isn't. Nor is the idea that countries receiving bailouts need to curtail their spending.

Then they should stop and let the Eurowreck die a quick death. Since the Euro was forced on countries it has lurched from one failure to and other. Germany WANT to be involved because the more they get involved the more power they can grab. I ask this question "WHY is it that Germany are the ones being blamed time after time over the Eurowreck" ??

Germany WANT to be involved because the more they get involved the more power they can grab.

This is something you have to explain further. It seems to be based entirely on the idea of Germany from WW2.

I ask this question "WHY is it that Germany are the ones being blamed time after time over the Eurowreck" ??

Some of it is because of what Chris mentioned as them doing well out of the Euro before the crisis hit. The other is because as one of the stronger economies in the Eurozone the cost of the bailout largely falls onto them and, since they're the ones stumping up the money they're putting conditions on those bailouts.

[Sirius]

Originally Posted by Damien

This is something you have to explain further. It seems to be based entirely on the idea of Germany from WW2.



Some of it is because of what Chris mentioned as them doing well out of the Euro before the crisis hit. The other is because as one of the stronger economies in the Eurozone the cost of the bailout largely falls onto them and, since they're the ones stumping up the money they're putting conditions on those bailouts.

It has nothing to do with WW2 it has everything to do with how the Germans come over to others, Every time i have met them from when i was posted there to how you see them on TV to how you have to deal with them on holiday they must always be in charge, they must always be first and they don't care how they get to that point. I have said before i don't like them and i certainly will never trust them.

As for them doing well out of the Eurowreck well yes they are but look at the poor bloody infantry who they are walking all over to get there


On another note

How embarrassing for the EU that a country outside the Eurowreck has had to organise an air lift of money so its own people can buy food and essentials like Baby milk.

---------- Post added at 18:24 ---------- Previous post was at 17:36 ----------

Happy days David has told Goliath to sod off.



Its breaking news on Sky news at the moment

Landslide No vote

Mp on there now saying that they were being forced by the EU to confiscate peoples savings

Now watch as the EU tells little Cyprus to vote again, and give the correct answer this time ...

[Sirius]

Originally Posted by Chris

Now watch as the EU tells little Cyprus to vote again, and give the correct answer this time ...

Ve Haf Vays of making you agree


http://www.bbc.co.uk/news/world-europe-21842966

'Against the interests of Cyprus'

Several MPs during the parliament debate on Tuesday evening denounced the proposed plan as "blackmail".

I don't call it blackmail i call it bullying.

http://news.sky.com/story/1066871/cy...ejected-by-mps

Earlier it was reported that Cyprus' finance minister had resigned amid the fallout from the original proposal, but Reuters said Michael Sarris had told them by text message that there was "no truth" to the story.

He has flown to Moscow to seek Russian financial assistance for the island.

Looks like Germany has a competitor

Sensible choice. I wonder what will happen now. I imagine they will all go back to the table and try and find a compromise or something more drastic.

Mmm. Cyprus is driven into the hands of a Klingonist regime ...

Originally Posted by Chris

Now watch as the EU tells little Cyprus to vote again, and give the correct answer this time ...

They may do but Cyprus can vote no again. It's hard to see them accepting these terms ever as their banking system would be screwed either way. However I don't think the EU will be that concerned if Cyprus simply reject the bailout. None of the other countries seem to be that exposed to Cypriot debt and the worst that can happen, from the EU point of view, is a precedent for exiting the Euro being set.

---------- Post added at 19:21 ---------- Previous post was at 19:17 ----------

Originally Posted by Chris

Mmm. Cyprus is driven into the hands of a Klingonist regime ...

Urmm Star Trek...

[Sirius]

Originally Posted by Damien

They may do but Cyprus can vote no again. It's hard to see them accepting these terms ever as their banking system would be screwed either way. However I don't think the EU will be that concerned if Cyprus simply reject the bailout. None of the other countries seem to be that exposed to Cypriot debt and the worst that can happen, from the EU point of view, is a precedent for exiting the Euro being set.

And about time to.

Originally Posted by Damien

Urmm Star Trek...

Sorry, it was an extremely oblique reference to a famous, but very, very old edition of New Internationalist, which was published as a series of Star Trek cartoons (called Starve Trek and illustrated by P J Polyp). Quite funny and well worth a read - they have an online archive of it here: http://newint.org/features/1991/04/01/starve-trek/

Originally Posted by heero_yuy

Tough choice: Russian oligarch or German Oberleiutenant.

Of course the correct choice would be to quit the Euro but the Germans won't let that happen.

I think they would let it, begrudgingly, happen. They don't want a precedent to be set but equally Cyprus is not going to bring down the Eurozone if they leave or go bust. Germany would want them to say but political pressure not to be seen to be caving in and simply giving Cyprus the bailout, i.e Germans money, would stop them from making a generous offer.

Either Cyprus accept a revised bailout (most likely)
Germany give them a bailout with no strings attached (unlikely)
Cyprus get money from Russia (dunno)
Cyprus leave Euro (dunno)

I think Cyprus' position at the table is weaker than any of the other bailouts thus far to be honest.

[Sirius]

Originally Posted by Damien

I think they would let it, begrudgingly, happen. They don't want a precedent to be set but equally Cyprus is not going to bring down the Eurozone if they leave or go bust. Germany would want them to say but political pressure not to be seen to be caving in and simply giving Cyprus the bailout, i.e Germans money, would stop them from making a generous offer.

Either Cyprus accept a revised bailout (most likely)
Germany give them a bailout with no strings attached (unlikely)
Cyprus get money from Russia (dunno)
Cyprus leave Euro (dunno)

I think Cyprus' position at the table is weaker than any of the other bailouts thus far to be honest.

I think this will move very quickly and by tomorrow night Cyprus will have lots and lots of Ruble's to play with

Originally Posted by heero_yuy

Whatever happens it might shape how Germany dominates the Euro-project

Whatever happens tomorrow in Cyprus i think faith in banks and governments has taken a severe blow ,simply knowing that a government was prepared to do this is scary and knowing a bank was willing to go along with it without putting up a fight on behalf of it's customers is even scarier

Originally Posted by heero_yuy

Never has the mattress looked a safer place for the savings.

Yep, Paul Krugman (economist) is supposed to have observed, it was as if the EU erected a great big sign saying "time to stage a run on your bank".

Goodness only knows how long they're going to try to keep the banks closed in Cyprus, but I wouldn't want to be a bank manager when they do finally open.