Holy Shit Here We Go: People are freaking out in Europe of the Cyprus bailout.

Could not believe what was just said on sky news:

anchore man:

would this tax not cause a run on the banks though.

bank rep:

even if they did run on the banks, where would they put the money.

anchore man (astonished by response):

under the mattress.

bank rep:

but then they would be at risk from theft by people breaking into there houses.

anchore man (speechless)



OMG the banks do not seem to feel that they are stealing from people. They seem to think they can take back some of the interest they have given savers over the next few years.

bank reps are some of the stupidest people

I believe in my heart im seeing it before my very eyes!

You are my friend, you've obviously been granted the wisdom enabling you to see through her illusion.

Priceless!!!!

When is the vote today???

A controversial bailout proposal and bank depositor levy for Cyprus brought the euro-zone's debt crisis back into focus Monday, causing bond yields to leap, the euro to initially sink against the dollar and Europe's bank shares to plunge.

News over the weekend spooked the market, after a 10 billion euro ($13 billion) bailout for Cyprus included an unpopular levy on all deposits in the island's banks.

If the proposal is passed by parliament--Cypriot lawmakers are expected to vote today--this would mark the first time such a strategy has been implemented during the five-year euro-zone crisis.

The European currency was initially hit hard, falling to a three-month low of $1.2882 and the yen resumed its role as a safe-haven asset as it strengthened against the dollar. However the euro started to pare losses one hour into the European session as did other areas of the financial spectrum.

Italian and Spanish bond yields at first climbed sharply and then eased; by 0900 GMT Italy's 10-year government bond yield was 0.08 percentage points higher at 4.68% and Spain's bond yielded 5.03% up by 0.13 percentage points, its highest level in 10 days. The Cypriot bailout deal could put the spotlight on Spain's bond auction, due later in the week.

European bank shares in particular were having a horrible session. The Stoxx 600 banks index was down 2.1%. Analysts at Societe Generale warned that the Cypriot banks are in a much worse situation than any other banking system in Europe.

Russian equity markets were taking a hit too with its main index down by over 2.5%. Russia has deep financial ties with Cypriot banks. It is estimated that Russian companies hold around $32 billion in the country. Spanish and Italian equity markets were each down 2.2%. Cyprus and Greece were both closed for a bank holiday.

To the extent im selling both the pc im on right now and my TV tomorrow. Im disconnecting. At this point I have seen enough and know what im called to do.

Good luck to all! As for me my Father in Heaven is calling me home

Italian and Spanish yields jumped on Monday while German yields hit 2013 lows, with investors viewing the euro zone's push for a levy on Cypriot bank savings in exchange for a bailout as a dangerous precedent.

Analysts said the Cyprus deal risked sparking a new episode of contagion in the region and some expect safe-haven Bund futures to test levels close to their all-time highs.

In a shift from previous rescue packages, euro zone finance ministers want Cyprus to tap savers' cash in order for the country to receive 10 billion euros of financial aid.

Midday in Greece. 11am in Italy, Spain etc. 10am here in the UK.

Any pics of a bank run on social media?

CNBC :

[link to video.cnbc.com]


LMAO !

Damage control at its finest ! Main italy newspaper this morning had Cyprus news on page 16th !!! Or 19th !!! In small format !!!


8 out of 9 people the CNC reporter asked, had NO IDEA what was going on in Cyprus !


HOW LONG will they hide it? One day? 2 days ?

Last Edited by Recollector on 03/18/2013 03:04 AM

You're on the right path

Admit it. You have been full of shit with your prognosis. No bank run at all.

I cannot admit this, because IT WILL BE A BANK RUN ! They cannot hide more than 1-2 days.

Are those with CNBC such morons that they fly reporters to Europe overnight IF NOTHING IS GOING TO HAPPEN ?

Link the dots moran, if you have more than 2 neurons.

Last Edited by Recollector on 03/18/2013 03:30 AM

They are not hiding it. Get a grip.

This is a non-event to 90% of Europeans.

The rest? They are either paranoid criminal, uneducated illiterate or living in former communist countries and can't make a difference between a soviet dictator and bunch of European in-fighting jack-assess who take 3 years to make a single decision.

Really. It is a non-event here.

The people never realise when the sh@t is going to hit the fan. They are focused in their microcosmos.
Remember before WW2?

Last Edited by Ostria1 on 03/18/2013 03:56 AM

That's complete crap.

Bank runs don't make any sense at all UNTIL there's a line of people outside the bank. I know, I watched the Northern Rock run in the UK.

It takes a while to get going, and you'd be surprised how inactive people are UNTIL they see the line of people.


Then, it makes COMPLETE LOGICAL SENSE to join the line of people, as it's first come, first served.

Good luck, all.

Vincent Forest, Cyprus analyst at The Economist Intelligence Unit, believes there is a serious risk of contagion to the rest of so-called 'Club Med' of peripheral eurozone countries.

Quote The decisions taken during the weekend in Cyprus are far more interesting for what they tell us about the mindset of decision makers in Europe than on the Cypriot situation. Given the small size of the Cypriot economy, there was little choice but to impose some losses for the Cypriot bail-out to be viable, the main question was who should bear them? The Cypriot bail-out is similar to its predecessors in that most of the cost is borne by the population.

Although it is a tax and not a default, the essential message sent to the markets and the population is that a bail-out poses some risks to the depositors. If depositors in Cyprus and across Europe fear for their deposits, there is a risk that these depositors will withdraw their money en masse, which constitutes the first step of a bank run. There is a serious risk of contagion to other peripheral eurozone countries, most likely via loss of confidence and increased volatility in financial markets.

Although not our central forecast, the risk of a bank run spreading across the eurozone has increased, which would be hardly stoppable and have extremely detrimental consequences.

1) Russian billionaires arrive en masse at Larnaka Airport to see what's about to happen with their deposits

2) Parliament canceled the vote procedure for tomorrow

3) Cypriot Banks will be closed for tommorow and -possibly- Wednesday.

Source: Cypriot SIGMALIVE TV Stream.

Fore Greek-speaking viewers

[link to www.sigmalive.com]

ooo! the mafia are mad

The Associated Press ‏@AP
BREAKING: Cypriot state media: parliamentary vote on controversial bank deposit levy to be postponed -BW

RT ‏@RT_com
BREAKING: #Cyprus delays vote on controversial bank deposit levy until Tuesday [link to on.rt.com]

Last Edited by TryToGetTheTruth on 03/18/2013 04:38 AM

Perhaps the Finns are more glacial in their temperament, living up there in the deep-freeze?

Sometimes i would love to live in a more isolated place, the impact of different events seems to be smoother.

Aww, I was excited too.

sky news has something on cypriot protests... staying tooned

cool, maybe we finally get the reichsmark back.

[link to worldnews.nbcnews.com]

Of the $90 billion deposits held in Cyprus banks, a little under half is held by non-residents, mostly Russian.