The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[Declan]

Well for all those funds being laundered in Cypriot banks German banks are offering incentives to transfer those funds to a German bank. You can't make this up.

http://www.zerohedge.com/news/2013-03-19/german-bankers-generously-offer-cypriots-helping-hand-if-they-transfer-deposits

[muppet]

http://www.rte.ie/news/2013/0319/377292-cyprus-bailout/

Cypriot Parliament voted no. Now what? Vote again?

[muppet]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

[magpie seanie]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

Brilliant. I haven't read anything as in depth as that on this subject. Truly fascinating and seems to confirm a lot of what I and many others not in the political classes suspected.

[Dougal Maguire]

I think Ireland should leap at the opportunity which the Cyprus crisis is throwing up and speak out in support of them. We could potentially net ourselves a dozen votes in the Eurovision if we play our cards right

[Main Street]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

Brilliant. I haven't read anything as in depth as that on this subject. Truly fascinating and seems to confirm a lot of what I and many others not in the political classes suspected.

Please expand on what you find fascinating about that article.

Personally I find it to be utterly vacant, re ideological, moral and economic plan of recovery for the Euro zone mess. Not only that, he utterly fails to attempt to understand why deliberate decisions, negatively affecting the citizens of the Euro zone, were made by the Troika.

[From the Bunker]

I think Ireland should leap at the opportunity which the Cyprus crisis is throwing up and speak out in support of them. We could potentially net ourselves a dozen votes in the Eurovision if we play our cards right

[magpie seanie]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

Brilliant. I haven't read anything as in depth as that on this subject. Truly fascinating and seems to confirm a lot of what I and many others not in the political classes suspected.

Please expand on what you find fascinating about that article.

Personally I find it to be utterly vacant, re ideological, moral and economic plan of recovery for the Euro zone mess. Not only that, he utterly fails to attempt to understand why deliberate decisions, negatively affecting the citizens of the Euro zone, were made by the Troika.

I thought he did quite clearly.

The subject is fascinating and this is a clear explanation of why the problem occurred and offers solutions to the crisis. You must not agree?

[seafoid]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

Plámás

[Declan]

See the latest picture of Cyprus after the meeting in Moscow today:


As the count Gurdgiev says - You have to laugh... or cry... or both...Merkel sends a reminder: CYPRUS MUST TALK ONLY TO TROIKA, NOT RUSSIA (a bit late)

[Declan]

Keeps getting better for the Cypriots


And in more breaking news:
PIMCO Worlds Largest Global Income Manager To Drop Bonds In Eurozone
http://www.huffingtonpost.com/2013/03/19/pimco-european-exposure_n_2908695.html

The eurozone, we believe, will remain mired in its driver-passenger conflict. While the U.S. will surely provide confidence to some passengers in the eurozone car, it is highly unlikely in our view that eurozone policymakers will make substantive progress in the direction of the U.S. during 2013.


Anyone willing to bet what happens next?

[muppet]

This article by George Soros is worth a read

http://www.nybooks.com/articles/archives/2012/sep/27/tragedy-european-union-and-how-resolve-it/

Amazing letter. I wish I was smart enough to understand it.

Plámás

Not at all, I came to the conclusion that Germany should be booted out of the Euro ages ago. I just don't know enough to argue why properly. At least he does.

[Declan]

And guess who was the genius representing us at this? Brian Hayes
http://uk.reuters.com/article/2013/03/21/uk-eurozone-cyprus-call-idUKBRE92K0DW20130321

And the Germans still think its OK to steal depositors money - "Even 12% tax on Cyprus deposits "is not too much,"" says Merkel ally Fuchs says in Bloomberg TV interview.

[seafoid]

http://www.project-syndicate.org/commentary/rolling-the-dice-in-cyprus-by-ashoka-mody

[muppet]

http://namawinelake.wordpress.com/2013/03/24/are-your-deposits-in-irish-banks-safe/

Oh yes, in the past week Labour's chairman of the Oireachtas finance committee Ciaran Lynch and Fine Gael's jobs minister, Richard Bruton have both indicated that a levy on sub-€100k could be on the cards despite the existence of the sub-€100k guarantee. There seems to be a feeling that the guarantee only applies if a bank is allowed to go bust, but if there was an intervention before the bank was actually liquidated then all depositors including those with sub-€100k deposits would face "levies" despite the existence of the deposit guarantee scheme. Minister Bruton said on radio today that Cyprus imposing a levy on sub-€100k deposits was "in the remit" of the Cypriot government. The experience of this Government taking €1.88bn from private pensions between 2011-2014 to fund the Jobs Initiative (mostly the reduction in VAT on certain services), would also make you ill-at-ease that the Government would regard as sacred the guarantee for sub-€100k depositors.