Troika Hikes Cyprus Bailout Demands, Says "Conditions Worsened"
Just when you thought you knew the rules, the Troika has changed them... (via MNI)
- TROIKA SAID CONDITIONS WORSENED, WANTS BILL TO REFLECT
- TROIKA HIKED CYPRUS CONTRIBUTION TO E6.7 BN VS E5.8 BN:
SOURCE
Moar Bigger Haircuts for the rich please - and following Schaeuble's veiled threat (leave - we can handle it)...
- *SCHAEUBLE: MARKET SEES EURO-ZONE BETTER PREPARED FOR TURBULENCE
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Eurocrats want to force Cyprus default to test the system and to show everyone EZ can withstand a member exit.
http://www.youtube.com/watch?v=LJUzPatn0eE
The haircut is turning into a beheading
One more week and they'll draw and quarter Cyprus with the Monetary Curtain.
Europe has their best interest at heart; Russia only wants them for laundry.
Shut up, fruitcake!
Troika Hikes Cyprus Bailout Demands...
The terms are in context to the changing nature of the fundamental problem - the banks are insolvent. Obviously, since the situation has worsened, new terms are given - but the are still in context.
Euro Company policy is made on the spot to fit the occasion.
Cyprus is a tax haven location, right..???
Wealthy people who park their money their are (were) trying to avoid hefty taxes, right..??
Just checking...
Everyone is ready to take their money out, so the new rules are nobody gets any money
Why and how would it be possible for Cyprus check to see if its depositors had paid all the taxes they owed to the country they are from? Is it Cypriot banks' jobs to find out the motivation of their depositors?
That is an absurd proposition and it's the meme being spewed by the MSM to paint everyone of those deposits as ill-gotten. Remember that over 50% of those deposits were household deposits.
Mosey on over to Naked Capitalism. Lots of good articles on the "real" composition of the deposits. It's not what you're reading in the NY Times or WSJ.
How have they "worsened"? The banks have been insolvent for some time now.
"How have they "worsened"? The banks have been insolvent for some time now."
Well, to use a Hollywood example, think of it like the original "Weekend At Bernies". Bernie was dead for a long time before someone called them out on that issue. Once everyone else is in on to the banks being "dead", then you have to play along. See? It is worse now, decay has set in.
Reality is exactly the same. The pot is calling the kettle black. Entire EZ is financially strapped and sinking. They need Cyprus money to remain afloat themselves. Raising the price is to ensure that everyone else in the EZ begging for money sees that insolent bastards suffer even moar. How dare Cyprus fail to do as we instructed. They will pay....Dearly and Moar!!!!
Awesome post Horseman... I love Calvin and Hobbes.
CalvinBall!
FINALLY, I understand the whole Troika thing!
Thanks, HH!
Awesome!
That totally hits it on the head.
You must be upset because silver is down; maybe buy yourself another pet rock?
What's your long term strategy? Mine involves more that a 24-hour window. Tell us, what's the purchasing power of an ounce now, compared with say only 15 years ago? Do you plan on living more than 15 years? LMFAO!!!!
Gold is a fear trade, and we haven't done enough to eliminate fear from the economy.
Gold is a FAIR trade.
There,fixed it for ya
County fair trade.
So the central banks around the world that are rapidly expanding their gold reserves are county fairs?
Central banks have been net sellers of gold during the last fifty years.
Ask Gordon brown how that one worked out?
Is that why the Fed can't give the Bundesbank its gold?
We aren't talking about the last 50 years. We are talking about now.
You didn't answer the question. Fine, you want to talk about gold, answer the question, what is the purchasing power of gold now relative to 10, 15, 20, and 25 years ago? But yes I can understand why there is fear among paper-pushers such as yourself (or the real krugman anyway, we get your troll shtick).
The purchasing power in real terms using today's inflation to buy in 1980 is $800. You would have lost money buying gold for 30 years now.
Sorry, you have the wrong inflation numbers there. I can purchase considerably more oil, corn, wheat, timber and number other real inputs required for my business. Try again troll.
What an underhanded attempt at BS. 1980... when the Hunt Brothers tried to corner the silver market, driving up the price artificially. See the spike:
http://en.wikipedia.org/wiki/File:Silver_price_in_USD.png
http://en.wikipedia.org/wiki/Silver_Thursday
[EDIT] Meant to post the gold chart: http://en.wikipedia.org/wiki/File:Gold_price_in_USD.png
"The purchasing power in real terms using today's inflation to buy in 1980 is $800. You would have lost money buying gold for 30 years now"
I've heard tales of how you could buy a gallon of gasoline for $.25 cents in the early 1960's Paul. Back then a quarter was 90% silver. Guess how much gasoline you can buy today with that SAME silver quarter?? According to coinflation.com, today a 90% silver quarter is worth $5.17. My local gas station is selling gasoline for $3.65 a gallon. That same silver quarter today will not only buy me ONE gallon of gasoline, it will buy me 1.41 gallons of gasoline.
Put that in your bong and smoke it you Keynesian peice of trash.
Notice that Paul has gone away. Should we ask him whether or not he should be held accountable for lying?
"Notice that Paul has gone away?"
Yes, the trolls appetite has been sated. he thanks you and the others.
Paul is doing his homework...
All jokes aside ...is that really krugman?i know ZH won't let you use a name blah blah vet him etc.if it really is him....oooooooh! Should I ask him for his autograph cos he like totally famous.
But how would I trust that autograph ?cos he is a lying tit.
Confused and starstruck.
What a day!
I have to lie down now
I think its really him. It wouldn't surprise me in the least if that pompous ass came on here under his real name. He'd want everyone to know it was him. He thinks so highly of himself. Also, I got 2 down arrows on my gas for 25 cents post above, and no one smart enough to refute my claims to the contrary. One was probably Krugman. He doesn't like to get schooled in math facts.
quit greening yourself
"Gold is a fear trade, and we haven't done enough to eliminate fear from the economy."
----------
You sure haven't! Stop printing to 'nth and that might help.
Dear Doctor, actually the theory said that greed and fear should balance themselves
it's only since Greenspan that it was changed to full greed ahead, screw the fear
When your pansy ass is in the corner with wet britches and crying, then we can discuss fear Doc.
pods
i think we've found out(ed) today's debby downer...
That's funny!
Can you handle cognitive dissonance? Really??? If so, then how come...
You pooped Btcoin, but now your bosses have clamped down on it? Simple question.
The Krug seems somewhat annoyed. Perhaps a lover's tiff with his 15 year old 'house boy'?
Go easy he's clearly under emotional stress and somewhat sexually frustrated at this point. It was a long lonely night.
Paul, tell the boy that you have pre-ordered an iphone 5s for him. He will forgive you and it's also GDP positive... everyone wins.
So Europe will be clearing the bad debt then and prosecuting the bad elements? A complete jubilee and enforcement of accountability? Anything less is not in the best interest of the people of Cyprus. Hence, the people should default and roll out the Guillotines ASAP. The record is very clear as to who their leaders are and were over the last ten years. No economy functions without accountability, restore that first and let's go from there troll.
Dr krugman aka MDB....now I get it.
Funny guy
Funnnny guy
Paul?
Did you -1 me?
Tut tut.
That really hurt you know