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Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support

 
Anonymous Coward
User ID: 1313288
United States
03/17/2013 06:26 AM
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Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
This is going to be interesting to see how the Global Markets Respond!


[link to www.zerohedge.com]
Anonymous Coward
User ID: 34276055
United States
03/17/2013 06:56 AM
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Re: Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
sheep
Renegade (Me too)

User ID: 31680294
United States
03/17/2013 07:00 AM

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Re: Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
This is going to be interesting to see how the Global Markets Respond!


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1313288


I think the damage is done. They might as well go ahead and do it. Banks will fail due to bank runs now.
Who is John Galt?
Anonymous Coward
User ID: 36181764
Canada
03/17/2013 07:02 AM
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Re: Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
This is going to be interesting to see how the Global Markets Respond!


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1313288


Look at those cunts....

Prime Minister says 'Do it or Cyprus two largest banks will collapse'

I say let them. If anyone has money in anything but a credit union, then you deserve to lose your money, especially if you are on here.

Also look at them delaying the vote until tomorrow 'AFTER' the markets open. Why did they do that? Simple...the players with TPTB need to make their plays so they can cash in on this.

From the OP Link:

"The painfully shortsighted Cyprus bail-out, pardon bail-in (also known as wealth tax to those who are actually doing the in-bailing), plan is going from bad to worse. Because in addition to all the previously discussed macro-implications, all of which are adverse and have the full potential of destabilizing the Eurozone once more and lead to bank runs across not only the periphery but the core as well, especially by offshore (read Russian) depositors, there is now a risk that the entire hurriedly-cobbled together "plan" may be on the verge of failure as it may not get a majority vote in domestic ratification.

Today, at 4pm local (2pm GMT) the Cypriot parliament was scheduled to meet to vote through and ratify the tax levy plan, presented as a fait accompli at least by the Eurozone FinMins. A few hours ago, this meeting was delayed until 4 pm local on Monday "after signs lawmakers could block the surprise move.... If [parliament fails to ratify the bail-in], President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse." And so the late hour scramble to procure enough vote to pass the depositor impairment begins as the alternative is simply "or else."

The problem is that while for Cyprus tomorrow is a national bank holiday (yes, ironic), the EUR opens for trading in a few hours, with the global equity futures markets, and Japan cash to follow shortly thereafter. And with absolutely no clarity on what the "pre-determined" outcome from the Cyprus bailout will be heading into Monday open, where one of the outcomes is the possible collapse of the country's entire banking system, which would certainly have contagious effects on all of the mainland, Europe is starting to freak out."
Anonymous Coward
User ID: 36181764
Canada
03/17/2013 07:03 AM
Report Abusive Post
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Re: Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
This is going to be interesting to see how the Global Markets Respond!


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1313288


Look at those cunts....

President says 'Do it or Cyprus two largest banks will collapse'

I say let them. If anyone has money in anything but a credit union, then you deserve to lose your money, especially if you are on here.

Also look at them delaying the vote until tomorrow 'AFTER' the markets open. Why did they do that? Simple...the players with TPTB need to make their plays so they can cash in on this.

From the OP Link:

"The painfully shortsighted Cyprus bail-out, pardon bail-in (also known as wealth tax to those who are actually doing the in-bailing), plan is going from bad to worse. Because in addition to all the previously discussed macro-implications, all of which are adverse and have the full potential of destabilizing the Eurozone once more and lead to bank runs across not only the periphery but the core as well, especially by offshore (read Russian) depositors, there is now a risk that the entire hurriedly-cobbled together "plan" may be on the verge of failure as it may not get a majority vote in domestic ratification.

Today, at 4pm local (2pm GMT) the Cypriot parliament was scheduled to meet to vote through and ratify the tax levy plan, presented as a fait accompli at least by the Eurozone FinMins. A few hours ago, this meeting was delayed until 4 pm local on Monday "after signs lawmakers could block the surprise move.... If [parliament fails to ratify the bail-in], President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse." And so the late hour scramble to procure enough vote to pass the depositor impairment begins as the alternative is simply "or else."

The problem is that while for Cyprus tomorrow is a national bank holiday (yes, ironic), the EUR opens for trading in a few hours, with the global equity futures markets, and Japan cash to follow shortly thereafter. And with absolutely no clarity on what the "pre-determined" outcome from the Cyprus bailout will be heading into Monday open, where one of the outcomes is the possible collapse of the country's entire banking system, which would certainly have contagious effects on all of the mainland, Europe is starting to freak out."

 Quoting: Anonymous Coward 36181764


fixed
Anonymous Coward
User ID: 36181764
Canada
03/17/2013 07:08 AM
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Re: Cyprus Parliament to delay "RESCUE" Vote Due To Lack Of Support
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