Cypriot bank savers forced to pay towards Euro/IMF bailout

[Random]

Let's stay on topic. There's a million threads on money, magic and usury if some want to have that discussion again.

 

[phildwyer]

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?

Russia is always a threat to Turkey, always has been, always will be. "We've fought the Bear before, and while we're Britons true..." and all that.

But Turkish public opinion would welcome a sneaky little land-grab while the Greeks are distracted running after their so-called money.

Do I think they'll go for it? No, because they've just put a large portion of their officer corps in prison, among other reasons. But we can dream.

 

[Lemon Eddy]

Bring it on.

You know, you could save yourself some RSI by adding this as your default signature.

 

[phildwyer]

Let's stay on topic. There's a million threads on money, magic and usury if some want to have that discussion again.

True, but the nature of money is an insistent issue, very relevant to this particular situation, and certain to become more relevant to this and other situations in the near future. It's not the sort of issue we can just ignore.

 

[kebabking]

...But we can dream.

you have some very odd, very dangerous dreams.

 

[coley]

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.

Nowt like a little 'pressure'

 

[phildwyer]

But if money doesn't exist usury doesn't exist either.

Precisely.

And if usury doesn't exist, then debt doesn't exist either.

When will people stop believing in these spectres?

 

[phildwyer]

you have some very odd, very dangerous dreams.

Wait till you hear my plans for Mostar.

So "Turkey ends where the oil begins" does it?

We'll see about that, imperialist running dogs.

 

[Random]

Wait till you hear my plans for Mostar.

So "Turkey ends where the oil begins" does it?

We'll see about that, imperialist running dogs.

Don't you mean Mosul? Freudian slip, Ottoman irredentist dog!

 

[Random]

Russia is always a threat to Turkey, always has been, always will be. "We've fought the Bear before, and while we're Britons true..." and all that.

But Turkish public opinion would welcome a sneaky little land-grab while the Greeks are distracted running after their so-called money.

Do I think they'll go for it? No, because they've just put a large portion of their officer corps in prison, among other reasons. But we can dream.

A sneaky little military operation would cut Turkey off from EU and Nato support against that bear over the Black Sea, so I think that's a non-started for the next couple of decades. But any waning of EU (and US?) influence in the Cyprus region is surely going to be exploited by Turkish politicians. But how?

 

[phildwyer]

Don't you mean Mosul? Freudian slip, Ottoman irredentist dog!

Ah yes.

Cancel that last order, Field-Marshall....

 

[kebabking]

...But how?

nothing i've seen - entirely anecdotal - suggests that the Cypriots are getting any less hostile to the hated Turk, and i rather doubt that the embarrasment of all this is going to make them more susceptable to Turkish olive branches.

 

[Random]

Ah yes.

Cancel that last order, Field-Marshall....

Mushir, or Aga, if you want to go back a bit.

 

[Random]

nothing i've seen - entirely anecdotal - suggests that the Cypriots are getting any less hostile to the hated Turk, and i rather doubt that the embarrasment of all this is going to make them more susceptable to Turkish olive branches.

It would not be olive branches, not based on a welcome from the Greek-Cypriots, I'm just talking about what opportunities in realpolitik this opens up for Turkey's elite. Considering that the Turkish economy seems to not be sharing the EU decline...

 

[kebabking]

It would not be olive branches, not based on a welcome from the Greek-Cypriots, I'm just talking about what opportunities in realpolitik this opens up for Turkey's elite. Considering that the Turkish economy seems to not be sharing the EU decline...

i suppose it might help the old 'pan-Turkic' crescent idea in that it re-affirms that Turkey is the big dog, while the EU stagnates, but i would have thought that the Turks would the concentrated on the Russians - if the Russians pull off the client state trick and get a banking hub in the EU, and a(nother) naval base in the Med, then that shows that Russia is the really big dog.

 

[Random]

i suppose it might help the old 'pan-Turkic' crescent idea in that it re-affirms that Turkey is the big dog, while the EU stagnates, but i would have thought that the Turks would the concentrated on the Russians - if the Russians pull off the client state trick and get a banking hub in the EU, and a(nother) naval base in the Med, then that shows that Russia is the really big dog.

I'm sure both EU and Turkish leaders know this, which is why the whole situation will remain locked down in order to keep out Ivan.

 

[TopCat]

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.

Very true.

 

[gosub]

http://www.ecb.int/press/pr/date/2013/html/pr130321.en.html

 

[yield]

It would not be olive branches, not based on a welcome from the Greek-Cypriots, I'm just talking about what opportunities in realpolitik this opens up for Turkey's elite. Considering that the Turkish economy seems to not be sharing the EU decline...

If the ceasefire by the PKK holds.

 

[Random]

If the ceasefire by the PKK holds.

Hasn't Turkey's economy been doing well recently despite all the increased unrest, the trouble via the Iraq border, etc?

 

[yield]

Hasn't Turkey's economy been doing well recently despite all the increased unrest, the trouble via the Iraq border, etc?

Turkey's economy was doing well till 2011. As the Ottoman apologist said above they'll be interested in oil in Northern Iraq.

 

[junglevip]

Anyone gonna withdraw their money before Easter?

Edit:

What is the purpose of a bank? Is it a place to put your money so that it is safe?

 

[FNG]

Turkish press are reporting Russians blowing cold on gas exploitation rights but pushing for rights to use pathos airport and Mari naval base.

http://www.todayszaman.com/news-310359-medvedev-says-gas-deal-with-greek-cyprus-no-easy-fix.html

What is interesting is that Turks are backing Anastasiades as he backed the Anan plan back in 2004 so ultimately should he survive the crisis help smoth relations, not sure where Soros sits in all this and whether his recent trip to Moscow is the president and the finance minister playing both ends against the middle or if its Sorros setting out a rival position for a later leadership challenge.

http://www.todayszaman.com/columnistDetail_getNewsById.action?newsId=310178

 

[where to]

Neo liberalism is now the greatest threat to our national security.

 

[Citizen66]

I'm meeting up with my Greek Cypriot (well northern English actually, but yeah) mate on Monday. Well looking forward to get his spin on things.

 

[taffboy gwyrdd]

Latest Keiser Report is unsurprisingly the best coverage of the Cyprus stuff I have yet seen.
!

 

[ymu]

Cyprus: the sum of all FUBAR
...

In the end this probably comes, in some version, to what it should have been from the start — a big haircut on deposits over 100,000.

But even then the situation is by no means under control. There’s still a real estate bubble to implode, there’s still a huge problem of competitiveness (made worse because one major export industry, banking, has just gone to meet its maker), and the bailout will leave Cyprus with Greek-level sovereign debt.

So then what? As a number of people have pointed out, Cyprus is arguably better positioned than Iceland to do an Iceland, because devaluing a reintroduced Cypriot currency could bring in a lot of tourism. But will the Cypriots — who haven’t even reconciled themselves to the end of their round-tripping business — be willing to go there?

See also: Treasure Island Trauma

 

[phildwyer]

Hasn't Turkey's economy been doing well recently despite all the increased unrest, the trouble via the Iraq border, etc?

Yes, very well indeed. Istanbul is a veritable furnace of new, expensive apartment blocks, offices etc. The joke now is that Turkey doesn't need to join the EU, but the EU should join Turkey.

Only problem is there is likely to be a massive earthquake quite soon.

 

[TruXta]

Yes, very well indeed. Istanbul is a veritable furnace of new, expensive apartment blocks, offices etc. The joke now is that Turkey doesn't need to join the EU, but the EU should join Turkey.

Only problem is there is likely to be a massive earthquake quite soon.

The only unknown is where and when exactly. It will come, and it will be a massive disaster. Hope you've taken precautions, phil.

 

[phildwyer]

The only unknown is where and when exactly. It will come, and it will be a massive disaster. Hope you've taken precautions, phil.

No I haven't. Whole neighborhoods of the city are being demolished and rebuilt to higher safety specifications, but not our building. I'm not sure why not, because the forecasts basically say that the epicentre will be in the middle of my living room. And that it should have happened yesterday.

You may remember that a quake in 1999 killed 30,000 people, in a city just east of Istanbul. Hundreds of thousands were injured. A nasty way to go too, buried for days under mounds of rubble with rats gnawing at your toes.

The quakes have been moving steadily eastwards along the Anatolian fault line for the last century.

My strategy is to get out of town, basically.