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Very Hot Topic (More than 10 Replies) The politicians strike again! (Read 7206 times)
Del Boy
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Re: The politicians strike again!
Reply #20 - 26. Mar 2013 at 12:22
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He was saying nice things to you..
for example.."ich liebe dich uber allas" means I love you more than anything, maybe if you smiled and nodded a bit longer he would have filled your tank for free. He might have been Gay and looking for a date. Cheesy
  
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MartinP
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Re: The politicians strike again!
Reply #19 - 25. Mar 2013 at 18:55
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For the first time ever, I heard anti-German rhetoric from the guy who (half-)filled my petrol tank, today. Before he served me, he wanted to know where I was from. During the filling he muttered continually "Deutschland ber alles" and other comments. I smiled and nodded because I didn't want anything extra in my tank.  Lips Sealed
  
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latsida
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Re: The politicians strike again!
Reply #18 - 22. Mar 2013 at 16:23
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should make for an interesting holiday there next week with my German family then Wink
« Last Edit: 22. Mar 2013 at 16:24 by latsida »  
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Topdriller
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Re: The politicians strike again!
Reply #17 - 22. Mar 2013 at 14:57
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Gavin Hewitt summed up the whole sorry mess in his piece this morning:

"Whatever the outcome the legacy will be one of bitterness. I have seen anti-German posters and heard anti-German rhetoric in Greece, Spain, Italy and Portugal. But never has it been so open as in Cyprus. And that resentment extends to the EU. "They've brought us to the brink," said one bank worker this morning, "the Europeans wanted to destroy our economy and they've done it".

Even if the Germans are right - and the Cypriot banking sector needs cutting in half - they are perceived as bullying outsiders.

This crisis has revealed yet again the faultline at the heart of the euro. Economic and monetary union has yoked together very different economies and cultures.

The stress of trying to blend them together is putting the European project under severe strain. Some economies are in a depression and the political fallout from this still lies ahead."

How on earth can the EU remain as it is when the people and their leaders appear to be at opposite ends of the spectrum?

Jon
  

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latsida
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Re: The politicians strike again!
Reply #16 - 20. Mar 2013 at 15:02
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« Last Edit: 20. Mar 2013 at 15:05 by latsida »  
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moggy1923
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Re: The politicians strike again!
Reply #15 - 20. Mar 2013 at 12:21
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Kephalian, thanks for that.

There was something on the radio today, re the Church offering their support, ie putting up colateral, have not found anything written on it yet.
  
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Re: The politicians strike again!
Reply #14 - 20. Mar 2013 at 09:43
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My old friend Martin Wolf gives a sound appraisal of Euro zone antics and yet an another saga - Cyprus and the banking world.

« Last Edit: 20. Mar 2013 at 10:53 by Kephalian »  

FT_Cyprus_saga.doc ( 158 KB | 61 Downloads )
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latsida
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Re: The politicians strike again!
Reply #13 - 19. Mar 2013 at 16:46
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Russia's involvement explained in depth here.

http://www.cyprus-mail.com/bailout/russia-wants-future-involvement-cyprus-after-...

certain criteria apply to Citizenship maybe you mean Residency Permits which allow travel to other parts of Europe

see here

http://www.cyprus-mail.com/cyprus/russian-billionaire-abramov-gets-cypriot-citiz...

and not just the Russians

http://www.guardian.co.uk/world/2013/feb/06/cyprus-courts-chinese-property-buyer...

"Cyprus is not the only EU state to be exploring this way of reinvigorating a stagnant property market. Last year, Ireland and Portugal also offered residency to foreigners who bought property worth more than a certain amount. In November Spain's trade minister, Jaime Garcia-Legaz, said his country was intending to follow suit in an attempt to clear his country's vast backlog of unsold homes."
« Last Edit: 19. Mar 2013 at 17:07 by latsida »  
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Re: The politicians strike again!
Reply #12 - 19. Mar 2013 at 16:27
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Just read this Twitter which is interesting food for thought:

The eu is very worried about russias involvement with cyprus.The russians have been buying into cyprus to gain point of residence to obtain cypriat citizanship as a means of gaining access to europe.They can travel and reside anywhere in europe.They also pour billions into cyprus bank accounts as part of their deal.They also have a navel presence off the coast as a deterent against any hostility from the north.Cyprus also has a massive gas field that stretches from cyprus to the coasts of israeil.

See Aegean have upped their Russian flights this year too into Greece.
  
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latsida
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Re: The politicians strike again!
Reply #11 - 19. Mar 2013 at 12:56
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many papers report that the Cyprus Gov. will not ratify the measures so the Cypriot banking system could collapse, or maybe the Russians will bail them out, now that should make things interesting. Cheesy Cheesy

statement see here

http://www.guardian.co.uk/world/video/2013/mar/19/cyprus-eu-bailout-president-vi...
« Last Edit: 19. Mar 2013 at 16:13 by latsida »  
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Re: The politicians strike again!
Reply #10 - 19. Mar 2013 at 09:02
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Does it surprise us that the politicos just ignore their own rules when it suits them?

Remember Germany and France exceeding the deficit rules within the first few years.  Just swept under the carpet.  And now conveniently forgotten when other countries do it so that Germany and France can trot out sanctimonious lectures on financial probity.

Andrew
  
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Re: The politicians strike again!
Reply #9 - 18. Mar 2013 at 21:20
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Robert Peston says it all:

"Reform of how to mend broken banks, which has been negotiated globally and in Europe since the crash of 2007-8, has been based on two central principles.

First, that the savings of ordinary people should be protected, up to a high threshold - or 100,000 euros in the European Union for example.

And that financial institutions which lend to banks by buying their bonds should incur losses when banks are bailed out: bondholders should, to use the jargon, be bailed in, as part of resolution plans.

So what is seen by many as profoundly shocking about the terms of the rescue of Cyprus by the rest of the eurozone and the International Monetary Fund is that both of these principles have been broken."

Jon
  

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Re: The politicians strike again!
Reply #8 - 18. Mar 2013 at 20:30
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« Last Edit: 18. Mar 2013 at 20:31 by latsida »  
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Re: The politicians strike again!
Reply #7 - 18. Mar 2013 at 19:14
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I see the EU/ECB have started back-pedalling.  Apparently it's nothing to do with them, the Cyprus government can do what it likes..........

I just hope there is a massive uproar tomorrow when the banks don't open, and the thieving swines back off.  Need a few plate glass windows smashed.

The whole thing beggars belief.  Actually, it doesn't does it?

Andrew
  
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Re: The politicians strike again!
Reply #6 - 18. Mar 2013 at 13:55
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situation still fluid see here
http://uk.finance.yahoo.com/news/cyprus-bailout-savings-tax-could-023543806.html

http://uk.finance.yahoo.com/news/cyprus-revising-bank-levy-terms-105249161.html

I am going to Cyprus next week for a family holiday, guess I will have to take cash Wink

« Last Edit: 18. Mar 2013 at 14:01 by latsida »  
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Re: The politicians strike again!
Reply #5 - 18. Mar 2013 at 12:58
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LONDON, March 18 (Reuters) - Sterling rose to a five-week high against a struggling euro on Monday as a bailout plan for Cyprus which included a tax on bank deposits was seen as setting a dangerous precedent that could spark bank runs elsewhere.

Have read that 30% of investors are outside EU countries in Cyprus and many millionaire Russians so maybe they will assist in bailing out.  Just a shame the poor tortoise usual investor has to be clouted and many ex pats in this area.
  
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Re: The politicians strike again!
Reply #4 - 18. Mar 2013 at 09:16
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Theft is the only word that can be used I agree with every thing that Jon has stated.
Where will it all end.
  
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Re: The politicians strike again!
Reply #3 - 18. Mar 2013 at 00:08
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So, when it happens in Greece and Samaras says:

1. It's to tax those billionaire Russian Mafia types and

2. Angela wouldn't give us any more loans until we hit all those cheating, tax evading Greeks who haven't yet moved their funds to safe tax havens...

you'll believe them and not care that the majority of savers in banks around the globe are pensioners who've already been hit for the past six years by record low bank interest rates?

Jon
  

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latsida
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Re: The politicians strike again!
Reply #2 - 17. Mar 2013 at 23:19
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oh give it up, how many servicemen have 100K in savings there?

[url]Here is the logic behind imposing a hefty levy on Cyprus deposits, according to this official:

1) Regulators and politicians are convinced that a vast amount of cash in Cypriot banks belongs to Russian money launderers.

2) Few German politicians of any persuasion would have voted for a Cyprus rescue that simultaneously rescued these launderers.Here is the logic behind imposing a hefty levy on Cyprus deposits, according to this official:




From todays Robert Peston Website
« Last Edit: 17. Mar 2013 at 23:30 by latsida »  
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Re: The politicians strike again!
Reply #1 - 17. Mar 2013 at 22:50
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I'm currently in the UK and so this hit the papers big time this morning.  Osborne was quick to say that he Brit military and civil servants fleeced by this new measure would be fully reimbursed by the UK Government.  In other words, UK taxpayers are yet again footing the bill.

But let's just think what's happening here.  If you're someone who saves prudently and keeps your money in a Cyprus bank saving account you will have between 6 and 10% arbitrarily removed in accordance with stipulations set down by the EU before they I'll give Cyprus a loan to stave off bankruptcy.

However, and if you spent all your own money, managed to persuade said Cyprus banks to loan you funds and then squandered and lost those same funds then you're okay!

Once again the EU mandarins are treating EU citizens with no thought of democracy or fairness.  It's nothing short of theft and if the EU judicial system was fair, which it patently is not, then you would go to the courts and get your money back and, if lucky, get the Cyprus PM and EU Finance Ministers thrown in jail.

How long will it be before there is a run on all European banks in all EU countries as all savers think....if it could happen in Cyprus, then why not here?

The words thieving, unelected and bastards come to mind.

Jon
  

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The politicians strike again!
16. Mar 2013 at 20:17
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Just heard that bank depositors in Cyprus are to pay a "one-off" tax of between 6.75 and 10 % on bank deposits.

Apparently withdrawals are only being allowed up to the amnount that would be needed to pay the tax.

Nevertheless will not most depositors now rush to withdraw their money in case the gov comes back for more?

And will this not result in bank failures in the next couple of weeks?

I do not claim to know much about finance, but it seems to me there is a strong possibility that as usual, the politicians have screwed up again.

Any views chaps?

Andrew
  
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