Cyprus 'bailout'
Mar 17th 2013 | 11:30 pm
#16
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Joined: Feb 2011
Posts: 0
Re: Cyprus 'bailout'
It is the most outrageous and astonishing thing I've heard in EUR-history (and that is a tough title to win). The banks are insolvent so the shares are worthless (try to work out the 'book value' for some of those banks....) - and you cannot sell the shares anyway........
It is another nail in the EURO-coffin..... and I worry about this sort of thing on a wider socio-economic scale: at some point (maybe not far off) the people of Europe (particularly in the southern nations) will rise up in civil violence against austerity, etc, while those in the north will rise up against their taxes being raised again and again to pay for the profligacy of southern governments.
Then, gangs of racist vigilantes will start patrolling the streets, torching houses and intimidating residents in largely immigrant neighbourhoods, because far right parties and pressure groups will have convinced them that immigrants are to blame for unemployment, high taxes, high unemployment, etc..........
One day, future history students will find plenty of material for their dissertations on The European Civil War of the early-21st-century........
It is another nail in the EURO-coffin..... and I worry about this sort of thing on a wider socio-economic scale: at some point (maybe not far off) the people of Europe (particularly in the southern nations) will rise up in civil violence against austerity, etc, while those in the north will rise up against their taxes being raised again and again to pay for the profligacy of southern governments.
Then, gangs of racist vigilantes will start patrolling the streets, torching houses and intimidating residents in largely immigrant neighbourhoods, because far right parties and pressure groups will have convinced them that immigrants are to blame for unemployment, high taxes, high unemployment, etc..........
One day, future history students will find plenty of material for their dissertations on The European Civil War of the early-21st-century........
Mar 17th 2013 | 11:37 pm
#17
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Joined: Jun 2008
Posts: 1,841
From: Abu Dhabi by body and Sydney by soul
Re: Cyprus 'bailout'
There are some horror vigilante stories coming out of Egypt(i know it's not in Europe!) now. Anarchy. Very chilling.
Mar 18th 2013 | 4:13 am
#18
Forum Regular
Joined: Mar 2011
Posts: 178
From: Abu Dhabi
Re: Cyprus 'bailout'
I think this is what is commonly referred to as a 'masterpiece'
Just remind me again why it was so dastardly and terrible before the EU that we could not possibly go back? Better still, talk me through all the efficiency and benefits for establishing the EU.
Can't help feeling there is an unfeasbily large dose of self interest here being administered by those well versed in the art of survival.
Here's a thought - why not have the money that is being compulsorily acquired from anyone in Southern Europe matched Euro for Euro from the individual savings accounts, pensions, and the like from those in Brussels, Germany etc
Just remind me again why it was so dastardly and terrible before the EU that we could not possibly go back? Better still, talk me through all the efficiency and benefits for establishing the EU.
Can't help feeling there is an unfeasbily large dose of self interest here being administered by those well versed in the art of survival.
Here's a thought - why not have the money that is being compulsorily acquired from anyone in Southern Europe matched Euro for Euro from the individual savings accounts, pensions, and the like from those in Brussels, Germany etc
Mar 19th 2013 | 6:22 pm
#19
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Joined: Jul 2009
Posts: 15,887
From: Disneyland, Dubai
Re: Cyprus 'bailout'
Nigel nails it once again
Mar 19th 2013 | 10:05 pm
#20
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Joined: Sep 2009
Posts: 1,162
From: Kuala Lumpur
Re: Cyprus 'bailout'
And all this from an institution whose own auditors have refused to sign off their accounts for at least the last 18 years - go figure ...
Mar 20th 2013 | 5:30 am
#21
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Joined: Mar 2011
Posts: 178
From: Abu Dhabi
Re: Cyprus 'bailout'
Mar 22nd 2013 | 2:27 am
#22
Nothing doin' here
Joined: Sep 2008
Posts: 3,508
Re: Cyprus 'bailout'
How I see is (while living (and hating it) in germany), is that it's just another ploy from the arrogant krauts who want to take the Russian Money (well they failed to take over the country didn't they).
From BBC
So, instead of the Chinese, I blame the germans. Horrible, horrible race.
From BBC
1. Restructuring the banks: Under this plan the Laiki (or Popular) Bank would be split into a "good" and "bad" bank. Deposits under 100,000 euros (£85,269) would be protected in the "good" bank. Larger deposits (Read Russian) would be placed in the "bad" bank and would take substantial losses. The Germans favour this idea and want to see larger depositors share in the cost of saving Cyprus.
Mar 22nd 2013 | 9:52 am
#27
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Joined: Sep 2009
Posts: 1,162
From: Kuala Lumpur
Re: Cyprus 'bailout'
OK, it's the Daily Fail but, really, would it surprise anybody?
http://www.dailymail.co.uk/news/arti...ey-abroad.html
http://www.dailymail.co.uk/news/arti...ey-abroad.html
