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Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES

 
Anonymous Coward
User ID: 35985543
Germany
03/17/2013 04:17 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
we should gerenral strike all over europe until companies stop using e cash methods!
Anonymous Coward
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Netherlands
03/17/2013 04:17 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Don't forget to read this thread :

[link to godlikeproductions.com]
yaba

User ID: 35032629
United Kingdom
03/17/2013 04:18 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
what should happen now is a genral strike and refusal to pay taxes until the haircuts are put on bond and shareholders not depositors.

THAT is capitalism

what has just happened is fascism
Anonymous Coward
User ID: 13263525
Indonesia
03/17/2013 04:18 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
Anonymous Coward
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Germany
03/17/2013 04:20 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Cyprus has been a kind of a tax haven in europe, many people have established a citizenship there so they could have a bank account, and do business from the island. Norways richest man "lives" there.

And half of Cyprus' bank accounts belong to russians not even living there.

EU and IMF gave Cyprus an ultimatum, we will save your banks, with crisis loans, but only if you pay us back with money from the bank customers.

The philosophy being; why should we use our money on you, when you have so many wealthy customers benefitting from your low low taxes. You will all have to sacrifice.

I think EU got rid of a boil of a loophole businessmen, russians and criminals used to get low taxes.

This is interesting in so many ways.

This could potientially hurt the middle class in southern europe, if it spreads, or if the same utlimatum is given the other countries.
 Quoting: Shoegazer


this issue could easily be solved by using the same tax rates in entire europe.
Anonymous Coward
User ID: 1313288
United States
03/17/2013 04:22 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
 Quoting: Anonymous Coward 13263525


Not a chance!
Anonymous Coward
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Hungary
03/17/2013 04:22 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
oh wonderful. the mighty EU in the last few years is always trying to teach us here democracy, always saying we're losing democratic values in Hungary, the country is turning into a dictatorship etc etc. and now this same EU basically gives out an order to Cyprus to do these haircuts on bank accounts.
Seriously? this EU is trying to teach us about democracy? yea, because the agreement of EU leaders and the government of Cyprus with the banks there, over the money of people is very democratic.
how will the banks actually do the paperwork for all of this? do banking contracts allow for them to just take away all this money without prior notice? what kind of contract is that then?
and while Cyprus is well known for being a hub for money launderers and off-shore companies, chances are that the biggest of those had a heads-up warning, and took their money out before it was too late. and even those who didn't, will take all their money out of Europe now for sure, to Indonesia, Singapore, Caribbean, etc. well done EU again! money will be flowing out of Europe. that's exactly what these already crumbling countries need.
yaba

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United Kingdom
03/17/2013 04:23 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
 Quoting: Anonymous Coward 13263525


Not a chance!
 Quoting: Anonymous Coward 1313288


wow typical sheeple reply

yes they will protect you
what a stupid response

it already has happened as the currencies have been devalued more than 10 percent
yaba

User ID: 35032629
United Kingdom
03/17/2013 04:24 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
one thing we all need to ask the governmnets is are we a capitalist society?
if the answer is yes then we should ask why they are tryin g to destroy all capital?

wwe live in debitsim not capitlaism
Devoted Follower
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United States
03/17/2013 04:28 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
 Quoting: Anonymous Coward 13263525


I think we're all screwed.

It's just when we'll get screwed that is in question...

hiding
Anonymous Coward
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United States
03/17/2013 04:29 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
 Quoting: Anonymous Coward 13263525


Not a chance!
 Quoting: Anonymous Coward 1313288


wow typical sheeple reply

yes they will protect you
what a stupid response

it already has happened as the currencies have been devalued more than 10 percent
 Quoting: yaba


cruise
Anonymous Coward
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03/17/2013 04:32 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
This in from Zerohedge:

Today, lots of people woke up in shock and horror to what happened in Cyprus: a forced capital reallocation mandated by political elites under the guise of an "equity investment" in insolvent banks, which is really code for a "coercive, mandatory wealth tax." If less concerned about political correctness, one could say that what just happened was daylight robbery from savers to banks and the status quo. These same people may be even more shocked to learn that today's Cypriot "resolution" is merely the first of many such coercive interventions into personal wealth, first in Europe, and then everywhere else. For the benefit of those people, we wish to point them to our article from September 2011, "The "Muddle Through" Has Failed: BCG Says "There May Be Only Painful Ways Out Of The Crisis", which predicted and explained all of this and much more. What else did the September BCG study conclude? Simply that such mandatory, coercive wealth tax is merely the beginning for a world in which there was some $21 trillion in excess debt as of 2009, a number which has since ballooned to over $30 trillion. And with inflation woefully late in appearing and "inflating away" said debt overhang, Europe first is finally moving to Plan B, and is using Cyprus as its Guinea Pig.

Read the whole article here;

[link to www.zerohedge.com]
Anonymous Coward
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United Kingdom
03/17/2013 04:33 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
evryone needs to question this

why is it BOND AND SHAREHOLDERS ALWAYS get bai;led out

THEY should have been the ones weith the haircut
of course that belongs to the western banking mafia

cannot see them take a loss can we
 Quoting: yaba

The reason bondholders are always "made good", (despite being legally behind depositors in the line of creditors) is that there are MASSIVE amounts of derivatives out there based on the underlying bond.
This means that if the bond were to fail/default, the derivatives (think CreditDefaultSwap) becomes due, and then all that insurance has to be paid.
Bear in mind, I am aware that some bonds have 10+ times the amount of CDS outstanding on them than the amount of the bond issued in toto.
So, the derivatives web is protected at all costs, and nothing is allowed to fail.

The system is at risk if just one large counterparty in the derivatives web cannot make it's payments.

Prepare.
Anonymous Coward
User ID: 35985543
Germany
03/17/2013 04:33 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
will this happen on other country in europe and US ?
 Quoting: Anonymous Coward 13263525


I think we're all screwed.

It's just when we'll get screwed that is in question...

hiding
 Quoting: Devoted Follower 35393379


next week will be an indicator to:

how many people care about whats happening.
we will be able to see this via bankruns.

how many people are willing to disobey.
we will be able to see this via protests.

we need someone that can organize and ccordinate as well as plan things.
there is no reason to provide them with money via work if they steal it without warning.
there are no more ethnic or respectful rules.
its time to raise the sword.
Senior Stool Sample
User ID: 36041906
United States
03/17/2013 04:36 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Gold should fly tonight.
Anonymous Coward
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Germany
03/17/2013 04:37 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
The ECB is proud to be the sponsor of the Bankrun 2013
insertfunnyusername

User ID: 35967835
Greece
03/17/2013 04:39 AM

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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Cyprus parliament postpones vote on savings levy to Monday

Cyprus's parliament postponed an emergency session called to approve a levy on bank deposits on Sunday after signs lawmakers could block the surprise move agreed in Brussels to help fund a bailout and avert national bankruptcy.
[link to thestar.com.my]
Anonymous Coward
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Germany
03/17/2013 04:40 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Merkel calls Putin to thank Russians for volunteering to help in Eurozone crisis by depositing money in Cyprus.
Anonymous Coward
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Malaysia
03/17/2013 04:40 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Will my boss finally fire me?
Anonymous Coward
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Germany
03/17/2013 04:41 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Dear Italians and Spaniards, please do a BankRun tomorrow morning. Lots of love, the people of Cyprus.
Anonymous Coward
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Germany
03/17/2013 04:42 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
If UK government guarantees Uk armed forces personnel with savings in Cyprus banks, is the UK taxpayer not indirectly helping this bailout ?
Anonymous Coward
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Germany
03/17/2013 04:50 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Cyprus bailout a major game changer

This from Lars Seier Christensen co-founder & CEO
Saxo Bank A/S (A serious comment you should truly take note of)

Shocking!

It is difficult to describe the weekend bailout package to Cyprus in any other way. The confiscation of 6.75 percent of small depositors' money and 9.9 percent of big depositors' funds is without precedence that I can think of in a supposedly civilised and democratic society. But maybe the European Union (EU) is no longer a civilised democracy?

I heard rumours about this when I visited Limassol last week, but dismissed them as completely outlandish. And yet, here we are. The consequences are unpredictable, but we are clearly looking at a significant paradigm shift.

This is a breach of fundamental property rights, dictated to a small country by foreign powers and it must make every bank depositor in Europe shiver. Although the representatives at the bailout press conference tried to present this as a one-off, they were not willing to rule out similar measures elsewhere - not that it would have mattered much as the trust is gone anyway. It is now difficult to expect any kind of limitation to what measures the Troika and EU might take when the crisis really starts to bite.

if you can do this once, you can do it again. if you can confiscate 10 percent of a bank customer's money, you can confiscate 25, 50 or even 100 percent. I now believe we will see worse as the panic increases, with politicians desperately trying to keep the EUR alive.

Depositors in other prospective bailout countries must be running scared - is it safe to keep money in an Italian, Spanish or Greek bank any more? I dont know, must be the answer. Is it prudent to take the risk? You decide. I fear this will lead to massive capital outflows from weak Eurozone countries, just about the last thing they need right now. Even from the EU as a whole, I suspect, as the banking union is in place in most countries already.

This is a major, MAJOR game changer and the fallout will be with us for a long time to come. I believe it could be the beginning of the end for the Eurozone as this is an unbelievable blow to the already challenged trust that might be left among investors. Talk about a possible own goal.

Market reaction? it must be very good for gold - and for safe-haven countries like Switzerland, Singapore and economically more healthy non-Euro contries in, for example, Scandinavia. I would think the EUR and associated markets will be undermined by increasing lack of confidence when the full implications become clear for investors.

This is full-blown socialism and I still cannot believe this really happened.

Be careful out there...

[link to www.tradingfloor.com]
 Quoting: Anonymous Coward 8339174


get your money from the bank next week.
in 2 weeks the banks will probably not be able to pay you because everyone ales alredy empied his account!

RUN! RUSH!
Anonymous Coward
User ID: 35985543
Germany
03/17/2013 04:56 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Sicher deine Kohle, Save your Money now, Asegúrese de que su dinero , Assicuratevi che il vostro denaro
Anonymous Coward
User ID: 33464940
Canada
03/17/2013 05:03 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
time to hang some bankers....
 Quoting: Cocorito90


^^^This!

Hang the worthless fuckers.
 Quoting: Devoted Follower 35393379


clappa
insertfunnyusername

User ID: 35967835
Greece
03/17/2013 05:05 AM

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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Efthimia Efthimiou ‏@EfiEfthimiou
Skai tv reports that ECB urged #Cyprus to vote for the measures today, before markets open on Monday. Cyprus replied "this is impossible"
Anonymous Coward
User ID: 36185381
Greece
03/17/2013 05:10 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
oh wonderful. the mighty EU in the last few years is always trying to teach us here democracy, always saying we're losing democratic values in Hungary, the country is turning into a dictatorship etc etc. and now this same EU basically gives out an order to Cyprus to do these haircuts on bank accounts.
Seriously? this EU is trying to teach us about democracy? yea, because the agreement of EU leaders and the government of Cyprus with the banks there, over the money of people is very democratic.
 Quoting: Anonymous Coward 18612185


I agree with you 100%.
And of course we all realize that it is not a problem of Hungary, or Greece, or Cyprous alone. EU and the Eurozone are turning into a facist mechanism attacking the nations and people of Europe.
When this crisis started the EU tried to convience everybody that Greece was a unique case and Greeks haven't done their homework. 3 years later 5 countries are under the EFSF supervision and Italy fighting hard to avoid it. That is a total of 6 countries which count for the 1/3 of the Eurozone.
Do you remember when Euro was born? All the Euro enthousiasts claimed that the new currency will provide EU countries with low interests on loans, free capital transfers and a solid economic environment. Now the countries and the people of all these countries are being punished because they benefited from the advantages that Euro provided. Cyprous for ex. everybody are saying who cares about russian mafia losing a 10% of their account but they don't remember that it was the EU who allowed and encourage this to happen. Spain for example everybody says is a banking problem, but nobody accuses the EU and the ECB because they helped Spanish banks to behave the way they did in the years before the crisis.
An Ordinary Greek
User ID: 36232885
Greece
03/17/2013 05:14 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Efthimia Efthimiou ‏@EfiEfthimiou
Skai tv reports that ECB urged #Cyprus to vote for the measures today, before markets open on Monday. Cyprus replied "this is impossible"
 Quoting: insertfunnyusername


QUICK! Send Venizelos and Giorgakis to change their mind "or else...". rofl
insertfunnyusername

User ID: 35967835
Greece
03/17/2013 05:16 AM

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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
Efthimia Efthimiou ‏@EfiEfthimiou
Skai tv reports that ECB urged #Cyprus to vote for the measures today, before markets open on Monday. Cyprus replied "this is impossible"
 Quoting: insertfunnyusername


QUICK! Send Venizelos and Giorgakis to change their mind "or else...". rofl
 Quoting: An Ordinary Greek 36232885


lolsign
Tsup bro? Can you see anything happening or will they bend over to pressure Greek-style?
An Ordinary Greek
User ID: 36232885
Greece
03/17/2013 05:20 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
The damage already happened bro. By "attacking" INSURED and GUARANTEED deposits you officially declared war to your own citizens. With that measure you openly claim that ALL of your citizens are thieves.

As I said before, RIP Eurozone 1999-2013.

And I won't be surprised to see an escalation with Turkey.
Anonymous Coward
User ID: 35390350
United Kingdom
03/17/2013 05:20 AM
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Re: Breaking: CHAOS IN CYPRUS; "Thousands" are withdrawing their money; ALERT IN THE SOUTHERN EUROPEAN COUNTRIES
If UK government guarantees Uk armed forces personnel with savings in Cyprus banks, is the UK taxpayer not indirectly helping this bailout ?
 Quoting: Anonymous Coward 35985543


Whats funny is all the expats complaining saying the british government should do something.

Wait a fucking minute YOU GUYS FUCKING LEFT!