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Cyprus Parliament Rejects European Bailout Proposal: Calls Germany's Bluff
Just as we predicted yesterday, the Cyprus bailout vote has not passed parliament in a move that was merely there to force Germany's bluff.
- CYPRUS BANK LEVY BILL DEFEATED WITH 36 VOTES AGAINST
- CYPRUS BANK LEVY BILL DEFEATED WITH 19 ABSTENTIONS
- CYPRUS PARLIAMENT VOTED IN SHOW OF HANDS IN NICOSIA
- ANASTASIADES FAILS TO SECURE VOTES FOR DEPOSIT LOSS BILL
What happens now, nobody knows. Prepare for a litany of very angry headlines out of the inner sanctum of Europe's despotic chambers. Hopefully Pisani can explain it all.
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Stand by for steep discounts on Cyprus RE. Beach front, baby!
Molon Labe, Bitchezz!
We are all Icelanders now. Greece and rest of the PIIGS should have collectively done the same thing 2 years ago and not allowed themselves to get picked off one by one.
The official translantion of the debate is as follows:
FUCK YOU BEN.
end of translastion.
The Brits have two large areas which they call sovereign territory even though it is Cypriot territory. Total area = 250 million square metres. At 25 euro a metre the problem can be solved.
Time for Cyprus to be Iceland.
Cyprus can turn the British military bases over to the Russians in return for a bailout.
Bob piss-on-me please explain
The Cyprus central bank chief name is Panicos Demetriades. All you needed to know.
Just wait a little.....the compromise is coming.
That's an easy one: Put entire Cyprus under Turkish administration. Problem solved.
why should the russians bail em out. let em default then swoop in
...and Fitch has to 'affirm' ratings of the EU to stop the Euro from stalling
It's already at major support, weekend gap still not closed.
Fucking disaster.
Europeans want to sell bonds and also want a cheaper euro.
Now think about it.
If they want their bonds to be sold, japanese or chinese have to buy euros in order to buy bonds, hence strong euro
Deep thinkers, aren't they?
why cant they pay in sushi?
The Japanese have been effectively propping up the risk edifice the last four months
LOL
Here's probably what will happen next: Renegotiations for about two weeks with the Troika, with Gazprom adding some capital to the bailout, for an equity stake in the banks. Ultimately, no charge to the under EU100,000 accounts, and probably no charge to the above EU100,000 accounts, unless there is some cash for equity swap. This will also be hailed as a unique situation, and promises that future bailouts will not include depositor bail-ins. The markets will rally, of course.
Right. So instead of bank accounts it will be the sale of public property, in this case gas rights. Heads I win, fuck you pay me....
******Bernanke shakes the sting at Kevin Henry*******
"It puts the lotion in the basket!"
http://en.arabstoday.net/20130318268633/gazprombank-initiates-cyprus-res...
Gazprom THE new owner of Cyprus
They own bank, money, gas, gas field exploration rights and Your ass.
It would be interesting to see Russians sharing border with Turkish NATO forces on Cyprus.
Russians can not print money, but they are smart, they will get more or less something for their commitment in this affair.
In this bizzaro world we are seeing stock markets barely flinch and gold barely move. If the euro isn"t a dead horse then what is? Stop flogging the people of Europe in the name of some technicratic, megalomaniac delusion.
The fact that nobody knows is a lot more entertaining.
Parlimentary gridlock... just like Congressional gridlock.
Gridlock is your friend, whether it's a communist President trying to reshape the country or a Prime Minister trying to bail out the banks.
I sense a russian natural gas embargo coming in 3, 2, 1...
never gonna happen buzzsaw because putin has no balls....he is getting pissed on in syria, will likely lose his military base, now the eu is looking to rob him blind, and all he offers are measured words.....no balls........
You may be right. It's been awhile since the last one (2009) and they never even hinted at a general oil embargo even back then.
Surely you jest....
bullish for cyprus
No citizen of Cyprus can miss the warning from Troika: Refuse our control and you are dead. And make no mistake; Troika will be back.
American citizens are getting the same message but thanks to a media completely on board with the Fed’s program, there’s been no awakening in this land of the free (?). Decade after decade passes in America with the major news subjects completely ignored and/or slanted by the press. Only the distractions are highlighted: Madoff, sequester, Y2K, global warming, the threat of Iran…
Why? It’s to cover the lyin’ eyes of the citizens.
Meanwhile, the Banking Cartel transfers trillions from America's private production, growth and future to non-production, literally robbing the economy of its sustenance. This transfer is accomplished by a small group of private bankers who now completely and utterly control every aspect of U.S. currency, economy and, as they wish, legislative and judicial developments. And, at the same time, a virtual merging of the American society is taking place with the nation of Mexico, reducing American salaries, living conditions and political influence in the most significant shift of political power in the history of Western Civilization.
And never before has the political class of a nation been so completely dominated by the foreign policy goals of another nation; in this case, the state of Israel and its unbelievable influence over domestic and foreign policies of the American government.
At the same time, a complicit media deliberately ignores and obfuscates the major events that are taking America to its Cyprus moment.
These and other major developments will suddenly become clear to Americans, however, when they, too, hear the ultimatum that Cypriots heard today: Submit or economically you’re dead.
Fuck. Now I'm bored.
Iceland 2.0
What Cyprus basically said...
http://www.youtube.com/watch?v=6Gu81mVvBgY
I'm enjoying hearing the market pumpers, fund managers, and economists say they are "shocked" that the ECB would consider stealing people's money.
Shocked? Really?
BANK HOLIDAY INDEFINITELY
why are you still posting here?
who knows what happens tomorrow, the next day or next week?
THIS IS IT
YOU SHOULD PANIC NOW
Mkt 'digesting' this news..ready for the late day selloff.
It is time for the people to rise up in glorious revolution against the oppressors in Brussels. Rise up, Europe. Bathe those who spent your future away for political gain in their own blood. You have only to lose your chains.
http://www.testosteronepit.com/home/category/europe-cyprus
Wolf has been all over this for a long time. You owe it to yourself to read his work to put things into context.
... Hoisted on their petard ...
And it worked
Now for other countries to start rejecting Brussels and the technocrat elite.
A start of something good.
Time for the Central banksters to eat their own losses.
Wait, I thought the law was that equity went first, then bondholders and then depositors. Skipping right to the depositors reminds me of Chrysler and the UAW. If you have powerful friends you just step to the front of the line. Obama taught them this with Chrysler and now everyone is surprised?
Wrt equity, find some entity willing to buy a Stake in these banks;
Re bondholders, there is none. Banking, the cyprus way...
Wait a second...
That's only 55 votes from 56 ministers!?!
SOMEONE IS A DEAD MAN WALKING!!
The solution is pretty obvious.
This is the EU.
When voters produce the wrong answer (in this case a sovereign parliament), they have to go back and vote again.
Rinse and Repeat.
Banks remain closed until correct answer is affirmed.
Go! Iceland!
I didn't know it was possible, but it looks like ZH has been hacked, and all comments are now for the unconditional Bailout of investors by taxpayers... I miss the old ZH
Really?...my read has been follow the law------------------>Bankruptcy Banker Bitchez!!!
I would prefer just letting cyprus deal with its banks (it's a sovereign, right?), but at least the taxpayers won't be alone on the hook. So why all the fuss?
All planned. They need this time to prepare the CyprExit!
Bullish for markets! Again, levying 200% of people' s assets will cause deeper digging, anything else is "I couldn't care less"!
The ECB is making demands ? A large, insolvent bank trying to steal from the depositers of a tiny insolvent bank.....it is comical actually.
Why would the Cyprus Gov't accede to ECB demands that effectively put the Cyprus Gov't in an absolutely untenable position with their own people, with their own neighbors?