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Do I have this right ? Cyprus banks are in trouble because the ECB forced them to buy Greek bonds that are now failing - Pension funds next !

 
Anonymous Coward
User ID: 36583672
United States
03/21/2013 08:25 AM
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Do I have this right ? Cyprus banks are in trouble because the ECB forced them to buy Greek bonds that are now failing - Pension funds next !
This is the silliest shit I have ever seen. There must be a reset of the world financial system. To keep the leverage that is over 100 to 1 in some instances afloat with new money (from taxpayers now) is insane. Just because the elite want us to keep fueling their private jets !

The European Central Bank gave Cyprus until Monday to raise billions of euros to clinch an international bailout or face losing emergency funds for its banks and inevitable collapse.

The ultimatum came with the island's leaders locked in talks on a "Plan B" to try to raise 5.8 billion euros demanded by the EU under a 10 billion euro ($13 billion) rescue, after angry lawmakers threw out a tax on deposits as "bank robbery".

Officials said new options discussed on Thursday could include nationalising pension funds of semi-state companies, issuing an emergency bond linked to future natural gas revenue or a revised bank deposit levy hitting only large investors, many of them Russians.
[link to www.cyprus-mail.com]
Anonymous Coward
User ID: 56609137
Canada
04/09/2014 11:52 PM
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Re: Do I have this right ? Cyprus banks are in trouble because the ECB forced them to buy Greek bonds that are now failing - Pension funds next !
Yeah but they're far safer than Canadian Banks:


[link to eraser.heidi.ie]



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