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Some of you who suggest Cyprus gets a bailout from the EU, since taxing accounts would be unfair, seem happy to see taxpayers money from other countries used.

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Seems to me both the above groups have their collective heads stuck up their collective arses, and cant see if the banks fail account holders get nothing.

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ORIGINAL: vincentML

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Some of you who suggest Cyprus gets a bailout from the EU, since taxing accounts would be unfair, seem happy to see taxpayers money from other countries used.

Polite, isn't that the purpose of a single currency and monetary union?

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ORIGINAL: Politesub53

You still dont offer an alternative solution do you, just more trolling.

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ORIGINAL: YN

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ORIGINAL: Politesub53

You still dont offer an alternative solution do you, just more trolling.

Neither do you, your sole purpose in posting appears to be to insult the other posters.

But since you asked, I would have dropped the EU membership and the Euro rather then tolerate what the EU had done to my country if I was the Cypriots.

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ORIGINAL: Phoenixpower

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ORIGINAL: YN

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ORIGINAL: Politesub53

You still dont offer an alternative solution do you, just more trolling.

Neither do you, your sole purpose in posting appears to be to insult the other posters.

But since you asked, I would have dropped the EU membership and the Euro rather then tolerate what the EU had done to my country if I was the Cypriots.

So it was the EU which did the money laundering in Cyprus???

And of course it should be perfectly ok for poorer parts of the EU which have their finances better under control to just throw the whole bail out fund to Cyprus without them contributing to it, getting it sorted???

Good joke, seriously

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ORIGINAL: YN

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ORIGINAL: Phoenixpower

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ORIGINAL: YN

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ORIGINAL: Politesub53

You still dont offer an alternative solution do you, just more trolling.

Neither do you, your sole purpose in posting appears to be to insult the other posters.

But since you asked, I would have dropped the EU membership and the Euro rather then tolerate what the EU had done to my country if I was the Cypriots.

So it was the EU which did the money laundering in Cyprus???

And of course it should be perfectly ok for poorer parts of the EU which have their finances better under control to just throw the whole bail out fund to Cyprus without them contributing to it, getting it sorted???

Good joke, seriously

Since the "downfall" of the two affected banks wads that their Greek Bonds had lost their value, and that EU rules required they be recapitalized to Brussels standards, "money laundering" did not enter into the matter, for as I noted earlier, if the EU was sincere about the money laundering red herring, they would hasve sent the "money laundered back to the Russians.

The question as to why the ordinary Cypriot people, and those people with bank accounts in Cypriot banks of Cyprus should pay for a combination of Greek (another EU nation) whose bonds were reduced in value per EU arbitration should foot the bill instead of the generic "EU" taxpayer is a different and more valid question. Their banks were not so much failing, as not capitalized to Brussels standards.

EU rules and actions caused the mess, the end result is where one EU nation (Cyprus) is taxed off their savings for the benefit of the next (Greece,) whose economic and social structure is in shambles.

Both these nations as a result, will need either a EU bailout or to exit the EU as a consequence in the future.

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ORIGINAL: YN
The losers will be the working and middle class people of Cyprus.

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ORIGINAL: Phoenixpower



Well...as far as I know, nobody forced Cyprus to buy bonds from the Greece....of course, they have a special relationship, but still....

Greece entered the Euro with falsified figures....IMO they should have been shown the door right then, but again....thats a different topic...

Anyhow, I do not blame the EU rules for the failings which, as a matter of fact, those countries did (at least Greece did, not sure about Cyprus) with (as the Greece example) continuing to pay pension for people who are dead since 20 years or longer...or paying ridicioulusly high salaries and avoiding a heck of a lot of tax...

its quite frankly basic math, that you will go bust one day when you live in such big shoes...would be the same over here if my parents would still continue to get paid the pensions from their parents (as well as all others) ... despite them being dead since 1-25 years...

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ORIGINAL: vincentML

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Some of you who suggest Cyprus gets a bailout from the EU, since taxing accounts would be unfair, seem happy to see taxpayers money from other countries used.

Polite, isn't that the purpose of a single currency and monetary union?

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Seems to me both the above groups have their collective heads stuck up their collective arses, and cant see if the banks fail account holders get nothing.

What of the deposit insurance system that is in place?

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ORIGINAL: YN

We work on somewhat different principles in our area of the world. And it was very wise for Chavez and other Latin American nations to pull their accounts, silver and gold from the European and Anglo-American banks.

The "Anglo-Saxon" Banking system is in great disrepair, with tremendous internal and external contradictions; and the Eurocrats haven't any coherent financial or economic plan to curb things like Greece, Cyprus, Spain, Italy, Portugal, let alone their upcoming troubles in France and with the UK.

Already as a consequence of Cyrus, bond insurance and interest rates have risen in the EU, the Chinese are buying up property (over 400 pieces trading this week according to the reports) in Cyprus, and I likely spoke too quickly about the value of bank shares in the new "toxic" bank, the Russians apparently value them (and certain Russians are alleged to be making offers to purchase,) and the Russia Federation has been only making the minimal necessary noises, in spite of their supposed interest.

Upon thought, having a band of Russian "businessmen" with a controlling interest in a state bank in the EU with branches across Europe would be similar to having a drug cartel or the Italian gangsters owning a similar interest.

The laws of unattended consequence. The losers will be the working and middle class people of Cyprus.

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ORIGINAL: YN

And don't worry, the English will be singing a different tune when the EU "farms" them in a similar manner, Brussels certainly has them on the list of things to do.

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ORIGINAL: Phoenixpower

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ORIGINAL: Politesub53
Some of you who suggest Cyprus gets a bailout from the EU, since taxing accounts would be unfair, seem happy to see taxpayers money from other countries used.

Very well said...

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ORIGINAL: YN
Would you like seeing the similar events when the EU "rectifies" the UK to their satisfaction?