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Cyprus hits the land down under.... stock market drying-crying like a baby......


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03/18/2013 09:55 PM

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Cyprus hits the land down under.... stock market drying-crying like a baby......

Uproar in Cyprus over EU bailout terms

Updated: 06:40, Tuesday March 19, 2013

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Cyprus has baulked again on putting an EU bailout to a vote in parliament as the crippling terms spark a public outcry and mounting talk of a rethink by eurozone creditors even as the uncertainty forced a prolonged closure of the island's banks.

A Central Bank official confirmed on Monday all bank branches on the island will remain closed until at least Thursday, while politicians review with lenders an unprecedented demand for every account holder on the island to pay a tax of at least 6.75 per cent on their balances as part of the rescue package.

Banks were closed anyway on Monday for a scheduled public holiday, but the uncertainty over the fate of the latest eurozone rescue package sparked jitters on world markets and fury from another key Cyprus creditor, Russia.

<end snip>

stocks rose slightly and are falling, then are on shaking ground until they vote.....

bit scary on a fairly steady Aussie Market...

10% above 100K
6% for the others

inexplicable taxing

welcome back to WW1

[link to www.skynews.com.au]

Last Edited by CitizenPerth on 03/18/2013 10:50 PM
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03/18/2013 10:37 PM

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Re: Cyprus hits the land down under.... stock market drying-crying like a baby......
well thats a bitch.

The whole system can coming carshing down at any time... (intentional spelling)

that is the danger of global banks and stock markets...

I hope this thing pans out...

but right now its a 747 that on an emergency landing run...

lets hope the landing gear still works...
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