Cyprus surprise - Cypriot depositors to take a 'haircut'

socrates

wotsthat wrote: »

Cyprus has been economically mis-managed which makes it vulnerable to not only bankruptcy but political manipulation too?

We have been disadvantaged by the fact that we had 38% of our island politically manipulated from us by the British (guarantors of our independence) - the Americans (always behind wars) and the Turks - barbaric warmongers throughout history

Just take Scotland and North Sea Oil away from GB a number of years ago and see where we would be now - in a better or worse position?

wotsthat

socrates wrote: »

We have been disadvantaged by the fact that we had 38% of our island politically manipulated from us by the British (guarantors of our independence) - the Americans (always behind wars) and the Turks - barbaric warmongers throughout history

Just take Scotland and North Sea Oil away from GB a number of years ago and see where we would be now - in a better or worse position?

What's this got to do with a 6.75% deposit tax in exchange for a £10bn EU/IMF loan?

socrates

wotsthat wrote: »

What's this got to do with a 6.75% deposit tax in exchange for a £10bn EU/IMF loan?

It's to show you how a small country with no power can be manipulated

This haircut is a direct attack upon the Russians by Germany

John_Pierpoint

socrates wrote: »

We have been disadvantaged by the fact that we had 38% of our island politically manipulated from us by the British (guarantors of our independence) - the Americans (always behind wars) and the Turks - barbaric warmongers throughout history

Just take Scotland and North Sea Oil away from GB a number of years ago and see where we would be now - in a better or worse position?

I did explain above somewhere that the act of union between Scotland and England/Wales came about because the Scots had managed to bankrupt their country, by organising their version of the South Sea Bubble. A very similar difficulty to the one that Southern Cyprus seems to have got itself into now.

I must confess, that I have a relative who is 100% pro Greek but he has never managed to persuade me that the Greeks did not get what they deserved in 1974.

As I see it the Turkish Cypriots were thought of rather like the Gypsies of central Europe. A group with lack of education, peasant attitudes, subsisting in relative poverty and not really deserving of the constitution that the British had left in place; so let us the majority vote for union with Greece.
Woops that was an error of judgement, a load of troops have suddenly arrived from that USA equipped front line country with Russia, to "protect" the cousins they can see on that island off their southern coast. And the rest is history.

Sort of like the independence of India or Serbia in the Balkans?

But what do I know ?

[the now-famous five stages: denial, anger, bargaining, depression and acceptance.]

socrates

John_Pierpoint wrote: »

I did explain above somewhere that the act of union between Scotland and England/Wales came about because the Scots had managed to bankrupt their country, by organising their version of the South Sea Bubble. A very similar difficulty to the one that Southern Cyprus seems to have got itself into now.

I must confess, that I have a relative who is 100% pro Greek but he has never managed to persuade me that the Greeks did not get what they deserved in 1974.

As I see it the Turkish Cypriots were thought of rather like the Gypsies of central Europe. A group with lack of education, peasant attitudes, subsisting in relative poverty and not really deserving of the constitution that the British had left in place; so let us the majority vote for union with Greece.
Woops that was an error of judgement, a load of troops have suddenly arrived from that USA equipped front line country with Russia, to "protect" the cousins they can see on that island off their southern coast. And the rest is history.

Sort of like the independence of India or Serbia in the Balkans?

But what do I know ?

[the now-famous five stages: denial, anger, bargaining, depression and acceptance.]

To be honest I could write a long answer but here is the long and short of it

The TC's are currently in London - the very first people to claim the EU Passport when Cyprus joined the EU

Straight to London complaining (like they did in 1974 about the Greeks) that they were being persecuted - this time by the Turks who had come from the mainland to populate the Northern side

I am sure you will be aware (or you are now) that they are claiming every benefit under the sun

Thrugelmir

socrates wrote: »

It's to show you how a small country with no power can be manipulated

This haircut is a direct attack upon the Russians by Germany

So Cyprus as a nation expects a bail out without conditions?

Somebody else to pay for it. Surely if its the Russians no one minds. Locally that is.

gagahouse

Bailout deal officially rejected by Cypriot parliament now. Have they done a deal with the Russians or will they twist in the wind?

John_Pierpoint

socrates wrote: »

To be honest I could write a long answer but here is the long and short of it

The TC's are currently in London - the very first people to claim the EU Passport when Cyprus joined the EU

Straight to London complaining (like they did in 1974 about the Greeks) that they were being persecuted - this time by the Turks who had come from the mainland to populate the Northern side

I am sure you will be aware (or you are now) that they are claiming every benefit under the sun

Seems rational behaviour; how does it work? Do the unrecognised people from the North still count legally as Cypriots and so members of the EU?
I did meet a Turkish Cypriot once, who had a good moan that he had come over to cold wet Britain because he could earn more in an hour here than he could earn in a day in embargoed Cyprus. He was working on a garage forecourt and probably feeling home sick.
Mind you that was in the days when a euro was worth 59p and Turkish money was measured in 100s of millions.

antrobus

gagahouse wrote: »

Bailout deal officially rejected by Cypriot parliament now. Have they done a deal with the Russians or will they twist in the wind?

No MPs voted for the bill, with 36 voting against and 19 abstaining.

See http://www.bbc.co.uk/news/world-europe-21842966

Also noted;

UK ministry of defence has said a plane carrying 1m euros is heading to Cyprus as a contingency measure to provide military personnel and their families with emergency loans.

Proof of sentient life somewhere in the British government?

socrates

http://www.cyprus-mail.com/cyprus/parliament-rejects-deposit-tax-bailout/20130319