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Cypriot bank savers forced to pay towards Euro/IMF bailout

This is why, were I a player in the Russian elite, I'd be looking to move in now while things are still all over the place. Didn't the Russians pick up a base on Iceland in 2008? This is where nationalistic state capitalism wins, it has more of a strategic mindset.
Nope, one single base - guess where. Syria.
 
There has to be people going hungry by now. Some people live pretty close to the edge food-wise.

Apparently they are flying in euros to top up the ATMs but they are emptied within minutes, seems the crisis doesn't merit decent news coverage, wonder why?
 
Apparently they are flying in euros to top up the ATMs but they are emptied within minutes, seems the crisis doesn't merit decent news coverage, wonder why?

Decent news is hard to come by. It's all about Linsey Lohan and her court date or some irrelevant shit. Any real news gets scrolled along the bottom of the screen so fast that you can't read it.
 
It's not just this. They don't want anyone to know any real news. If we did, we'd be hanging people from lamp-posts.

People don't want to hear real news either, but rather have non taxing stuff to chat about, be it football or what celebs are doing. stops em getting stressed and depressed about things they cannot change. The Budgets of real reporting being cut in relation to celeb and sport is less some diabocal plan by dark overlords and more a response to market forces.:(
 
What I find amazing, is that anybody thinks that these continuous bank holidays will prevent a bank run. The longer this bank holiday is, the bigger the run on the banks at the end IMO.

Fucking clueless headless chickens.

frightening isn't it?

stuff like this has to be done at 2am and it can only be announced after its been completed - how fucking moronic would you have to be to announce that you were going to skim 10% off the balance of peoples bank accounts, but without putting the legal framework in place?

a bit like your local burglar putting a card through your door telling you that he'll be doing your house over a week on thursday, and then said burglar being surprised to find your house empty save for a large man with a cricket bat....
 
ECB has informed Cyprus that Emergency Liquidity Assistance will end on 25 March (next Monday) unless there is an agreed plan in place.

no link as yet, sorry.

ELA is plane loads of paper €'s being flown in from Germany and others to keep the cash machines working. when it stops, the cash machines stop working.

BBC news is reporting that some Cypriot retailers have stopped accepting Credit and Debit card transactions.
 
Why not just do nothing, and let the money run out and the place "go broke"?

What does this actually mean?

The people will just have to invent some new, real, medium of exchange such as gold coins, or just go back to bartering things for a while.

I want to see what happens instead of these endless funny-money "bailouts" and last-minute compromises. Bring it on. The EU are desperate to avoid anyone leaving the Euro because then they know the game will be up.

Giles..
 
Why not just do nothing, and let the money run out and the place "go broke"?...

it will mean - in the case of Cyprus - widespread civil disturbance with, probably, significant violence in a country with a hugely volatile international border and a couple of very, very important British military instalations. should the situation not be resovled its quite likely that Cyprus will leave the EU in a fit of pique and become a client state of Russia, who in addition to hoovering up Cypriot natural gas deposits as collateral for keeping them afloat, will also look to establish a naval base in Cyprus.

regardless of its impact on Cypriots, none of this is good news for either the rest of Europe, or for the UK.
 
Why not just do nothing, and let the money run out and the place "go broke"?

What does this actually mean?

The people will just have to invent some new, real, medium of exchange such as gold coins, or just go back to bartering things for a while.

I want to see what happens instead of these endless funny-money "bailouts" and last-minute compromises. Bring it on. The EU are desperate to avoid anyone leaving the Euro because then they know the game will be up.

Giles..
Bring it on? What a stupid post.
 
Why not just do nothing, and let the money run out and the place "go broke"?

What does this actually mean?

The people will just have to invent some new, real, medium of exchange such as gold coins, or just go back to bartering things for a while.

I want to see what happens instead of these endless funny-money "bailouts" and last-minute compromises. Bring it on. The EU are desperate to avoid anyone leaving the Euro because then they know the game will be up.

Giles..

An excellent post.

Somebody somewhere is going to have to be the first to announce that the emperor has no clothes, and that all this alleged "money" that we're all so worried about doesn't, you know, actually exist or anything like that.

Mind you, I wouldn't want to be the first to make that particular announcement. But it will come sooner or later, and probably sooner.
 
it will mean - in the case of Cyprus - widespread civil disturbance with, probably, significant violence in a country with a hugely volatile international border and a couple of very, very important British military instalations. should the situation not be resovled its quite likely that Cyprus will leave the EU in a fit of pique and become a client state of Russia, who in addition to hoovering up Cypriot natural gas deposits as collateral for keeping them afloat, will also look to establish a naval base in Cyprus.

regardless of its impact on Cypriots, none of this is good news for either the rest of Europe, or for the UK.

Maybe not for the UK or for the EU. But it would be good for Cyprus, very good for Russia, extremely good for Turkey, and thus a decidedly positive sequence of events for the world considered as a whole.

Bring it on.
 
When you barter services, the services you owe don't actually exist either. That's kind of the point.

What do you mean?

If by "services" you mean any material actions at all, then obviously they do exist. Unlike this so-called "money" which nobody can ever touch, taste, smell, hear or see, and which therefore does not exist.
 
What do you mean?

If by "services" you mean any material actions at all, then obviously they do exist. Unlike this so-called "money" which nobody can ever touch, taste, smell, hear, see or feel, and which therefore does not exist.

But if money doesn't exist usury doesn't exist either.
 
Maybe not for the UK or for the EU. But it would be good for Cyprus, very good for Russia, extremely good for Turkey, and thus a decidedly positive sequence of events for the world considered as a whole.
What's the Turkish view on possible increased Russian influence in their back yard? Isn't it hard to square with the Turkish Nato membership? Not kept up on Russo-Turkish relations recently at all.
 
re: barter.

err... no - if you give me three loaves of bread and a bunch of grapes in return for my promise to fix your plumbing problem after i swap one of those loaves of bread for the bits with the bloke in Niccosia, you don't have anything you can touch, taste, see, or feel - you just have my promise that i'll do it.

quite why you think that anything that empowers a kleptocraotic, anti-democratic gangster state is a good thing is completely beyond me - or indeed why you think Cypriots being in hock to that state is also an improvement to the world.
 
What do you mean?

If by "services" you mean any material actions at all, then obviously they do exist. Unlike this so-called "money" which nobody can ever touch, taste, smell, hear or see, and which therefore does not exist.

No one can touch, taste etc the gardening job I owe my neighbour, because it only exists in our minds, or on my excel spreadsheet. But that's not important because all that matters is we both know I owe him something. We don't need any lumps of gold to make that debt more real.
 
What's the Turkish view on possible increased Russian influence in their back yard? Isn't it hard to square with the Turkish Nato membership? Not kept up on Russo-Turkish relations recently at all.

Turkey would not welcome increased Russian influence in Cyprus.

What Turkey would welcome is increased Turkish influence in Cyprus.

This is what you would call a golden opportunity for them.
 
No one can touch, taste etc the gardening job I owe my neighbour, because it only exists in our minds, or on my excel spreadsheet. But that's not important because all that matters is we both know I owe him something.

Do we now?

What if you tell your neighbor to stick the gardening job you supposedly "owe" him up his bum?

What then, pray tell?
 
Turkey would not welcome increased Russian influence in Cyprus.

What Turkey would welcome is increased Turkish influence in Cyprus.

This is what you would call a golden opportunity for them.
Oh, I thought you were responding to the scenario that Cyprus becomes a Russian client state. What moves do you think Turkey will take to move in on Cyprus now? And is there any sign in Turkish public opinion that they see Russian interests in Cyprus' banks and gas fields as a threat?
 
err... no - if you give me three loaves of bread and a bunch of grapes in return for my promise to fix your plumbing problem after i swap one of those loaves of bread for the bits with the bloke in Niccosia, you don't have anything you can touch, taste, see, or feel - you just have my promise that i'll do it.

Yep. And that promise ain't worth the paper it ain't printed on.

Look, it's much simpler than you think. Money is not a physical phenomenon. It is a metaphysical phenomenon. Money is not a natural phenomenon. It is a supernatural phenomenon.

And the really useful thing about metaphysical and supernatural phenomena is.... they don't exist.

Bring it on.
 
Do we now?

What if you tell your neighbor to stick the gardening job you supposedly "owe" him up his bum?

What then, pray tell?

That's no different to me telling him I threw the gold bar he lent me down the drain because I considered it to be a useless lump of metal.
 
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