Cyprus surprise - Cypriot depositors to take a 'haircut'

socrates

Ankara may challenge Cypriot use of gas reserves in bailout

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_21/03/2013_489224

socrates

Oh and apparently the Solidarity Fund Option has been rejected by Troika - back to the barbers which is what the Germans are desperate for

mcfisco

If we put aside the notion of a haircut for bank depositors, what % of the bank bailout billions required do normal Cypriots think they should find, and how?

wellused

dryhat wrote: »

Riots starting?......

http://www.youtube.com/watch?feature=player_embedded&v=5GgLbhca3Bk#!

Could be an interesting weekend.



Max Keiser now staring on RT

should be well worth a watch given the russian connection.

Riots I've seen more action at the January sales!:rotfl:

socrates

mcfisco wrote: »

If we put aside the notion of a haircut for bank depositors, what % of the bank bailout billions required do normal Cypriots think they should find, and how?

They think they should find exactly what the other European nations who have been bailed out were asked to find

Graham_Devon

It's being described as "a dangerous rise of desperation" on the news. Apparently you can feel the tension in the air.

The bank run is on, theres nothing that can be done to stop it. Bank workers fear going back to work, so even if the banks do re-open, staff won't be there.

dryhat

This is turning into a serious geopolitical situation.

The elites are scared and are trying everything they can to protect the bank and prevent exposing the theft and corruption which has taken place.

But the people are waking up and are refusing to play ball anymore.

noh

socrates wrote: »

They think they should find exactly what the other European nations who have been bailed out were asked to find

So the same as the Irish provided towards their bailout?

socrates

noh wrote: »

So the same as the Irish provided towards their bailout?

Yes - I believe that was 85bn

Where is the 85bn euros coming from?
The money will come from:

• the Irish Republic itself will contribute 17.5bn euros to the overall fund from its cash reserves and, controversially, the National Pension Reserve Fund
• 22.5bn euros from the International Monetary Fund (IMF)
• a similar amount from the European Union's European Finance Stability Mechanism
• 17.5bn from the European Financial Stability Facility, which is funded by eurozone governments
• bilateral loans from the UK, Sweden and Denmark.

I do not see any haircuts there for savers

Thrugelmir

socrates wrote: »

I do not see any haircuts there for savers

And the Irish people themselves what have they had to ensure?