Repeat of Micawber Principle,: Spending/+consuming - less than income = happiness , Spending/+ consuming - MORE than income = misery . simples ....
Wasn't the purpose of so-called 'quantiative easing' to ensure that the banksters lent to small businesses in order to stimulate the economy the aim of which was to supposedly reduce budget deficits that have multiplied largely as a consequence of Western induced wars? Instead the the money goes directly into the banksters pockets by way of 'bonuses'. But I thought bonuses were paid on the premise that the banksters made profits without having to dip into tax-payers pockets to do so? The reality is bankster losses are underwritten (socialized) by way of the taxpayer. So why doesn't the tax-payer benefit during periods of profitability? These are rhetorical questions. The truth is, profits are privatized and debt is socialized. We pick up the tab for a corrupt and bankrupt capitalist system and banksters get rich as a result. Great isn't it? Revolution anyone?
You people think every situation is the same. In Greece the problems came about when a socialist system was imposed on people who considered nepotism a way of life, and it led to mass corruption. While in Cyprus, the problems occurred when two banks tried to help out Greece and it turned out to be a bad investment. Germany assumes there is money laundering from the Russian oligarchs, and is trying to punish Cyprus because of it. The problem Germany has is that it wants every society to live by its standards and values. I'm not blaming them from being mad, but there has to be some cultural adjustments made to the people of Southern Europe, after all not everyone is Germanic. The Cypriot financial minister said from Moscow after the Cypriots rejected the deposit tax: "Russia is always the winner." Hmmm! I wonder if they are going to leave the Euro? ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Cyprus Parliament overwhelmingly rejects haircut bill The House of Representatives in Nicosia rejected the bill that would have imposed a haircut on the island's bank accounts, with 36 deputies voting against and 19 abstaining. Not a single Yes vote was registered. http://www.ekathimerini.com/
You can repeat it until hell freezes over and some people won't get it. Many, especially those on the welfare-suck, don't want to get it. The last thing in the world any parasite wants is for attention to be focused on the fact that it is a parasite. People who buy lots of crap on credit that they can't really afford are often nothing more than parasites in the "incubation" stage.....
From what I understand of the situation it is the result of a bank bailout pure and simple. Cypriot banks lost big when their loans for real estate in Greece went bad. Now the IMF and the EU want the people of Cyprus to make good on their bailout of the banks. A massive private debt has been foisted on the government of Cyprus and its people. They are entirely right to reject paying it back. Spain and Ireland are in the same circumstance as Cyprus, saddled with broken economies and huge debts from the failure and bailout of private banks. Cyprus is just the latest of these obscenities. The IMF and EU have reached too far in this one. They want Cyprus to pay them $20Billion Euros, which is more than Cyprus's annual GDP. There is no way for Cyprus to pay that off without looting the deposits sitting in the banks. I am really amazed that the IMF and EU thought they could actually get away with stealing money from depositors to pay bankers back for bad debts. Cyprus should just vote to repudiate debts acquired from bailing out the banks and leave the Euro. It has a relatively bright future in offshore gas development so bankruptcy now would not be a bad idea. They could require that gas developers pay for their bids in the vastly discounted Cypriot debt, thus retiring debt basically for free. Nations and their people should not be held liable for the debts of private companies legally operating within their borders. Iceland did not bail out its banks and recently won a final court case that held Iceland and its people to be not liable for the failure of its banks, or the rash wholesale reimbursement of depositors that the UK undertook and then engaged in a spate of threats bluster, a host of illegal actions, and lawsuits against Iceland to try to force Iceland to reimburse it.
They can reject it. When they do, their banks go bankrupt, and than the Cypriots loose ALL their savings while the government looses all the taxpayers money (because the taxes are on the bankaccounts as well). main difference is, that Cyprus is a tax haven. That is why all them corrupt russians got their billions stored there. Companies got their "headquarters" there too. Those people and companies hardly pay for a thing for anything. The dream is over. But what they want, is free money from the EU to keep it going. And the EU rightfully declines to pay for their mismanagement and bills.
Here is something interesting: ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ It is thought Cyprus will attempt to strike a deal with Moscow for the sale of troubled Popular Bank of Cyprus, known as Laiki, and possibly other local lenders. It is likely the Russians will seek some form of compensation for such an investment. A naval port in Cyprus for the Russian fleet and access to the countrys natural gas reserves are among the rewards Moscow might seek. http://www.ekathimerini.com/ +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ The last time Turkey invaded Cyprus and ethnically cleansed and occupied one third of the island, was because the Cypriot president wanted to give the Soviet Union a base. Turkey's PM Echevit got away with it because of his friend Kissinger, should one wonder why he has never held a U.S. government position since. Will Erdogan try to repeat history and use this as its opportunity to grab the whole island. It still has thirty five thousand troops and five thousand tanks just sitting there. And if it does, what will Russia do, after all it has given Turkey many warnings over Cyprus? Also what will Israel do, since it's dependent on Cyprus to transfer its gas? Also what about the EU, after all Cyprus is a member, and then there is Greece and Britain, who are protectors of the island? I guess we'll just have to wait and see. As for Greece, today a Turkish naval Corvette sailed into Greek waters without notifying Athens. Fortunately it left without incident, but the Turks are becoming more brazen each day.
The problem when you ignore a government during good times and are suddenly faced with the realization of fiscal responsibility. The citizens of Cyprus should hang their government like Mussolini.
The entire Cypriot government voted NO or abstained. The real culprits are in Brussels. Cypriots should demand to know the names of the scheme's architects. So should everybody else.
huh? Turkey invaded Cyprus because the Greeks (Junta) invaded Cyprus and were ethnically cleansing it to annex it. And large % of the Greek Cypriots were and still are for that annex plan. Brussel is not responsible for the financial disaster the banks on Cyprus created. Its only giving Cyprus a possability to fix their problems. They can take it or crash their economy.
Not entirely true , under normal circumstances a country can print and devaluate to achieve liquidity . It is the same story everywhere in Europe , banks were allowed to get too big . You can say that this is voter's fault indirectly yet in EU and every member country ministers of finance and union organisation 's leaders are all banksters . If you are following the stock markets two weeks in the raw they were going up and up and up and then some start selling like mad , if you think this crisis thing is created for any reason other than profit you are dead wrong . *Thumbs up to Russia for getting a spot to park their fleet . *In the Turkey part all those who have pre-1974 Cypriot passport and their kids receive proper Cypriot papers , the problem are not Turkish Cypriots but the colonists from Anatolia . For those with a sat dish public channel is RIK , all the programs are pre-recorded both languages are used with subtitles . Cypriots IMO should be left alone without third countries sticking noses in their domestic affairs .
Schaeuble (and the whole Merkel regime) is little more than a shill for the ECB. The Germans I know wish more than anything that they had never had anything to do with the Euro although they haven't been hurt -- yet! Ask any German who isn't a bobble-head goon for the ECB if he'd would like to go back to the Deutschmark if you want to see the real "heart and mind" of Germans today.
Now here's a history lesson for you: The majority of people on Cyprus are Greek. During WWI Britain promised to give the island its freedom so it could unite with Greece, but at the end of the war they changed their mind because the area was part of the British 'lifeline'. During WWII Churchill promised Britain would give the island its freedom so it could unite with Greece, but he lost the election and the new government decided Greece was too unstable, especially with a civil war going on, and again retracted it. In the meantime, in order to keep the island from demanding its freedom, the British began encouraging the Turkish minority to go against unity with Greece. Britain also did what it did with Northern Ireland, and made some favorable trade agreements. That way Cyprus would become more prosperous and wouldn't want to unite with a less prosperous Greece. Under the Junta, a Greek paramilitary group decided to do what the Turks had done to the Greeks for decades in Anatolia, and scare the Turks into shutting up or leaving. They assumed the U.S. would back them in forcing unity with Greece, because at that time the president of Cyprus was making overtures to the USSR and thinking of giving them a naval base. The Turks found the opportunity to invade since Nixon was being impeached, and Echevit was a former student of the Secretary of State Kissinger. He was in total control at the time and told the Greeks not to stop the Turks from landing on Cyprus, something they could have done easily since it's not easy crossing water...something the Germans realized in WWII with the British Channel. Kissinger told the Greeks not to worry, the Turks would not be able to stay there long because they couldn't afford it. As soon as the Turkish troops reached a certain area, Kissinger told them not to go any further. The American congress immediately stopped all money to Turkey, but Kissinger and the State Department bypassed it by sending the money to Germany, and from there it went to Turkey. The thirty five thousand troops are still on the island with five thousand tanks. Needless to say, two hundred thousand Cypriots escaped to the south. Whoever did not escape were killed by the Turkish soldiers. Their homes were taken and Turks from the mainland were moved into them. This area was the most prosperous area on Cyprus, and it soon became a wasteland with the Turks being dependant on poppies for their survival. In the past years the native Turks have been protesting about the troops being on the island, and feel they have nothing in common with the Turks from the mainland...but Turkey would tell them they are being ungrateful and they are protecting them from genocide. From who I wonder, since the small paramilitary group from Greece doesn't exist anymore. Anyway when Carter won the next election, the Republican party realized that the amount of money they were short of during the election was the exact amount given to them by the Greek Americans in the U.S. Since then Kissinger has never been able to hold public office. What the EU, or rather Germany is doing is geostrategic. They want to break the hold Russia has on Cyprus by destroying the Cypriot banking system. From what I gathered Russia is going to help Cyprus in exchange for the two banks that caused the trouble as well as building the gas terminal. This of course will freak out Germany since it needs the Cypriot and Israeli gas to break its dependancy on Russia. If the EU doesn't accept it Cyprus will bow out of the Eurozone. Anyway this is what I've gathered from what I have read. If true, then bravo Cyprus!
From what I gathered from a bad google translation, Merkle told Cyprus the situation must be discussed only with them, meaning it must not be discussed with Russia. This confirms what I said about it having to do with the Russian deposits. Medvedev said it is very short sighted since it will cause animosity between the two countries...but then again, what else is new? Isn't that what Germany and the U.S. have been doing all along? Cameron agrees with Russia. The British have a few billion in deposits and feels he must protect them. The Church of Cyprus has land worth a few billions and will mortgage it to help out. The Archbishop told the president that Cyprus should leave the Eurozone rather than destroy its banking system. Tomorrow the President of Cyprus will speak to Putin and see what they can do.
You don't know that orthodox priests have offshore companies , yachts , villas with pools , text their young lovers "fix your haemorrhoids so we can go vacations in Bermuda" and have nicknames such as Sandy and Dorothy ? You guys live in stone age !
it will be interesting to see how the 'friendship' lasts between Cyprus and the zionist entity and what will happen with the oil in the Med
1. It's natural gas not oil 2. Some of that gas will come to europe and will reduce our dependence on gas supplies from Russia. 3. Isarel will be richer, function ( but you won't believe it ) - Palestinians will have better life.
