71% of Cypriots Say Parliament Should Reject Bailout

Tyler Durden's picture

With President Anastasiades concluding his remarks, Cypriot public opinion, as it has changed over the first critical 24 hours after yesterday's Eurogroup decision, are recorded in a survey conducted by the Insight Market Research (IMR) agency at the University of Nicosia. The survey shows that the first reaction of Cypriots can be characterized as anything but positive with 71% believing the the House should reject the deposit haircut imposition and a full 73% believe that President Anastasiadis and the Cypriot delegation "failed to secure a good deal." 72% believe that depositors below EUR100,000 should not be affected at all but 62% believe Cyprus should stay in the Euro. Begging the question, when's the next Cypriot election?



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JeremyWS's picture

I still blame Bernanke. Somehow it must have been him the bearded bastard

Chuck Norris's picture

How long before the U.S. does the same thing?


Oh wait, they are. Just disguised as taxes and inflation.

flacon's picture

The 29% probably are so broke that they don't have any money to their name and don't care. Debtors vs. Savers. FOFOA had a good article on that. 




Read the part about Karl Marx had it backwards. Specifically:


"The two classes are not the Labour and the Capital, the rich and the poor, the proletariat and the bourgeoisie, or the workers and the elite. The two classes are the Debtors and the Savers. "The easy money camp" and "the hard money camp". History reveals the story of these two groups, over and over and over again. Always one is in power, and always the other one desires the power.

1. Debtors - "The easy money camp" likes to spend (and redistribute) money it did not earn, either by borrowing it, taxing the savers for it, or printing it. They like easy money because it is always and everywhere constantly inflating, easing the repayment of their debts.

2. Savers - "The hard money camp" likes to live within their means and save any excess for the future. They prefer hard money (or in some cases "harder" money) because it protects their savings and forces the debtors to work off their debts."

otto skorzeny's picture

Marx had a hard-on for the middle-class

Careless Whisper's picture

The Careless Whisper SUNDAY NEWS READING and Threadjacking


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Official IMF Statement On Cyprus: "appropriately allocates the burden sharing"


Pres. Of Saxo Bank: "If you can confiscate 10%...you can confiscate 100%"




dogbreath's picture

There is somthing strange about this Cyprus thing and it goes back before this shitty deal.  Cyprus banks were offering 6% and 8% yields on EUR and USD deposits.  So they suck in money seeking yield and then rip them off for 10% and chasing them to some other place.  Wash rinse repeat???


falak pema's picture

they don't rip them off! They play games with them and lose heavily with huge whale like deficits. Then they go running to the EU and say "bail us out!".

Admittedly there was principally contagion from Greek financial losses so it was knocked on from Athens burning; but these bankers were obliged to rip those guys off by the EU to get aid and stay in EU!

And they had another solution. Those interest rates were to attract the easy russian money all gone up in Greek debacle smoke! WHence the 10% "sweetner" to the Ruskis...instead of 15% possible.

Read my post above (below).

dogbreath's picture

but those rates should have been a warning that all is not right.  any stable economy  is paying 3% or less.  

James_Cole's picture

Based on skimming the very poorly reasoned FOFOA blogpost, whoever wrote it had little to no understanding of Marx and I don't mean in just a theoretical sense.

The two classes are the Debtors and the Savers. "The easy money camp" and "the hard money camp". History reveals the story of these two groups, over and over and over again. Always one is in power, and always the other one desires the power.

A good example of selective perception & the need to boil complex problems into absurd reasoning 5 year olds can understand. 

idea_hamster's picture

Um ... in a word: no.

Read FOFOA's blog -- and don't just skim.  Just because the common elements he identifies are simple, that doesn't preclude his analysis from being original, subtle and elegant.

James_Cole's picture

Read FOFOA's blog -- and don't just skim. 

Too many words, too few ideas. His main point (other than misappropriating Marx) centres on the idea that there are people who save certain assets in the expectation of fixed values and those who take advantage of floating values. He then goes on to use this rudimentary analysis to label all groups of people throughout history either debtors or savers. 

Guess what, power systems will use whatever is at their disposal to control - to them the methods are relatively arbitrary - this can be shown over and over in history. 

idea_hamster's picture

Well, I'm not going to say that FOFOA wins any awards for being succinct, but if that's your take away, then I can understand why you would disagree.

However, I think your basic grasp of FOFOA's underlying point is incorrect.

malek's picture

Yes, that was one of the best eye-opener articles I ran across. Simple and straight to the point. Kudos to FOFOA!

SeverinSlade's picture

Think it is safe to say that Bernanke had advanced knowledge of this. Seems too coincidental that European banks operating in the US had a $100 billion injection the week before

max2205's picture

If they had snap cards the number opposed would be like 23%

Learn from Barry

McMolotov's picture

Whether parliament rejects the bailout is probably irrelevant at this point. The bag is now cat-less, and this has likely shaken people across Europe of the delusion that their savings are protected in a bank. I don't see how there won't be bank runs.

In the US, the media will be quick to remind the sheep that our savings are "fine" because we have the Fed to backstop everything. Just be sure to ignore the fact that all that printing devalues our savings. If enough people in the US catch on to the scam — that the same thing is being done in secret to our savings as was done in Cyprus — there will be bank runs immediately followed by a dumping of those dollars into anything of physical value.

It can't happen quickly enough as far as I'm concerned. The events of this weekend should rightfully be the spark that burns the whole thing down.

earleflorida's picture

with obi lecturing the public on balancing the budget the other day... it had occured to me that it was under his watch that it has gone up a whopping 33% in 4 years!!!

talk about a tackless hypocritcal oaf

lolmao500's picture

Exactly. No difference at all between the bank bailouts and the FED 0% interest rate and what Cyprus is doing. Cyprus is doing it the ``stupid way so the sheeple wake up``... Ben is doing it ``the smart way so only smart people figure it out``...

James_Cole's picture

No difference at all between the bank bailouts and the FED 0% interest rate and what Cyprus is doing.

There are some pretty major differences. 

lolmao500's picture

Nope. They take private money and give it to bankrupt banksters. Doesn't matter if it's through public debt or inflation. They rob the common people so big banksters can do more gambling and give themselves bigger bonuses.

James_Cole's picture

Your 'point' wasn't difficult to grasp the first time. 

20-20 Hindsight's picture

As I posted elsewhere today, Cyprus is doing it overtly, while the US is doing it covertly.

I guess the US politicians and banksters figure that citizens are way too dumb to figure this one out... and, sadly enough,they're right.

Lore's picture

But: "62% believe Cyprus should stay in the Euro."

In Cyprus, even the direct approach is not enough to wake up the 62%.

Banksters's picture


Merkel: Cypriot depositors must share responsibility http://ekathimerini.com/4dcgi/_w_articles_wsite1_1_17/03/2013_488307

 That bitch, not to be confused with bitchezzz, just hit the hornets nest..   Go Beppe!


Debeachesand Jerseyshores's picture

Shareholders and Bondholders will not receive a "Haircut".

That seems fair to me---------------Yeah Right.

Croesus's picture

Look, the Dow is at all-time highs.....What other proof do you need, that the US is in recovery mode? </sarc>


rotagen's picture

Yes, Bernanke is indeed fun to blame but if you look closely you can see little strings moving his arms, legs, head and most definitely his lips.

A Lunatic's picture

You all know how unreliable polls are............

JLee2027's picture

The "crazy" has only begun. Next stop 100% confiscation.

TheSilverJournal's picture

Confiscate what? Fiat paper and digital code? They won't confiscate fiat on a very large scale when they can just create the stuff themselves with a few keystrokes. I mean, look at how pissed the Cypriotics are at their government...no politician wants that. Just keep on increasing the rate of QE and and the mass uproar is nil. The mistake they just made is they let the EU depositors know that their deposits are not really their deposits once it goes into the banking system. With any luck, this will start the worldwide run on the banks beginning with Greece, then Spain, then Italy, then we see the cookies crumble. A lot of people get hurt when ponzi schemes collapse, but that is no excuse to keep the ponzi going and destroy even more people's lives. Will this be the start of the big bank run?...I don't know. But this joke of worldwide fiat monetary ponzi can only last a few more years at tops.

The central planners confiscated the real money a long long time ago.

MeelionDollerBogus's picture

no government wants that? WHY NOT? Governments GET DE-STABILIZED. It's not all accidental.

Follow the money, plot the course of the ripples & ask who benefits.

Element's picture

Fortunately 71% does not constitute a majority (in the eurozone) and this is not a democratic process anyway.

JustObserving's picture

77% of Americans were opposed to a bailout of US banks in 2008. But Hank Paulson got his way.

The West has perfected democracy - fascism when it matters but otherwise eternally democratic.

Yes, we can  - believe everything Obama says.

Element's picture

Curiously when someone says I'm taking 10% of your savings, most people would say Hell-no!

But according to this, 29% of Cyprus just said, "Why sure! Is there anything else I can get for you, sir?"

They sure have some damn fine MSM spinners, to get a result like that ... or a country full of idiots ...

Something's wrong with that picture.

JustObserving's picture

29% of Cypriots do not have money in the bank or work for the banks. Do not tax me, tax that man behind that tree.

Piranhanoia's picture

The 29% were working on where their next meal was coming from and didn't have time to vote.

James_Cole's picture

That 29% is probably made up mostly of the Bankers and the Turks (most of whom still use the Lira). 

mjcOH1's picture

"according to this, 29% of Cyprus just said, "Why sure! Is there anything else I can get for you, sir?""


29% figured out there'll be a 100% loss of deposits on Wednesday, if Germany doesn't bail them out.

shovelhead's picture


That means 29% would rather keep 90% of something than 100% of nothing.

Which is what they'll get if the banks fold. That's why the Troika thinks it will fly.

I think the 71% are overly optimistic about getting their money out once the doors close. Depositors need to know that they are the bottom of the food chain in the world of finance.

This ought to do it.


MeelionDollerBogus's picture

Maybe it means 29% couldn't take the time to say "no" because they were busy having boating accidents? Cyprus is an island after all....

hooligan2009's picture

anyone would think the president of cyrpus did not have a mandate to allow the eurozone to take 10% of citizens of cyprus' money!!!

Ghordius's picture

"62% believe Cyprus should stay in the Euro", 72% would like a better deal, and parliament has to make the necessary law yet

and yet nobody has a better option, and I doubt Cypriots would prefer to have a bankrupcy that would erease nearly all their savings

after all, the other europeans are chipping in 10bn

Winston Churchill's picture

Yeah, 62 % want to be ass raped again.

Well,at least they won't need lube next time 'cause they know

whats coming.

Edward Fiatski's picture

If it has to pass, then there definitely needs to be a threshold for accounts with, say, below EUR 20k that don't get a dent, unless, of course, this whole charade is to milk the majority of the populace.

Germans/Brussels are either fucking dumb in their calculations, or they're aiming for the latter.

EscapeKey's picture

How cute.

As if the parliament works for the voter.

On the contrary, parliament works for "the best interests of the voter", with heavy emphasis on the quotation marks.

Whoa Dammit's picture

Fat lot of good it will do them.

holdbuysell's picture

I'm wondering where the Cypriot politicians' money is at this point.

ArrestBobRubin's picture

71% of Cypriots think so eh? Yeah but who cares what they think??

Clearly "Is it good for the Jews?" is ALWAYS the only fair consideration and thus should be the only question asked here.