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Cyprus Parliament President Says "No Future" Under Troika, Calls For "Iceland" Solution
Just last week Yiannakis Omirou, Cypriot House of Representatives President, was calling for the nation to accept it is "time for responsibility" as they progressed towards a final solution; and yet today, as Cyprus' Famagusta reports, he believes the 'Troika-imposed' responsibility will, "turn Cyprus into a colony of the worst possible type." His 'Icelandic' solution is to "leave the Troika and EMS behind," to ensure "national independence, national sovereignty, moral integrity, and economic independence." He may have a point; judging from the chart below of the Troika's poster-child Greece, relative to Iceland, things are not going so well. As Omirou ominously concludes, "if we remain bound by the Troika and the memorandum Cyprus’ destiny is already foretold and there will be no future."
There is no other alternative but to free Cyprus from the bonds of the troika and the memorandum, House of Representatives President Yiannakis Omirou has said.
Omirou also expressed his conviction that no Attorney General would dream of not following through with the results of an investigation led by an independent committee to apportion blame on those responsible for bringing the country’s economy and banking sector near collapse.
Omirou talked about the troika demands, which according to him will multiply and will turn Cyprus to a colony of the worst possible type and warned “I would like to send a message to the Cyprus people that there is no other way, there is no alternative apart from freeing (the country) from the troika’s and the memorandum’s bonds”.
He noted that certainly, “this road will demand sacrifices”, adding that “by leaving the troika and the EMS behind us, we will ensure our national independence, our national sovereignty, our moral integrity and our economic independence”.
“If we remain bound by the Troika and the memorandum Cyprus’ destiny is already foretold and there will be no future”, he pointed out.
h/t Mark Grant
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choooose Cyprus; and throw out the shills.
A thought. Perhaps this was the plan all along? Let the banks collapse, allowing the connected (and the Russians) to get off scot free in the process. Take the loan from the eussr. Get the max you can. Take another set of loans from the eussr when the first set of loans wasn't enough. Build up those liabilities to the max then..WHAM! Pull out of the zeuro and perhaps the eussr as well. Oh, and repudiate all the debt in the process.
It would be analogous to someone running up their credit cards before filing for chapter 7.
Iceland on steroids, bitchez.
So your point is what exactly... that the borrower of ficticious money is a bigger crook than the lender?
When it comes down to survival, morals don't enter into it.
But to answer your question, I think it's possible that the Cypriots could be looking to pull a double-cross.
Say it ain't so, that would be such a ni__er riggin, the likes of which even Elvis's young could appreciate.
damn it, you almost had a perfect setup:
http://www.youtube.com/watch?v=IwrUkeYxUF0
N_GGERS
"would youlike to buy a vowel?"
No, I'll solve the puzzle!
http://vir4l.com/wp-content/uploads/2011/04/guess_these_words.jpg
And then the military marches into Cyprus?
Whose military? If Russia is the puppetmaster, no one else will be marching in.
Turkey. If other countries wouldn't rush to its defense, Cyprus would be easily defeated by the comparatively huge Turkish army. Maybe the other countries wouldn't completely look the other way if a full scale invasion were launched, but there are other ways of taking a bit of land here and few natural resources there and saying they belonged to Turkey all along. Nato took part of Serbia away due to alleged human rights violations. There could be another pretext in Cyprus.
You missed my point... in this case morality is on the side of survival.
The chances of the Cyproits leaving the Zero Euro is nil. They like the rest of the world are owned. Cyprus leave the Euro they will be invaded by Turkey for the disputed oil and gas.
Germany and Turkey are already thick as thieves on this issue both now and historically. The Brits have their slice of the island and unfortunately there are still enough traitorous boot lickers in the Cypriot camp to keep them from doing it.
Despite its gas reserves, it is the intention of alternative suppliers not to see more supply reaching the markets.
Cyprus has entered its own version of the dark ages but I wish her well.
Time for her people to kneel before her imprisoned graves for strength.
Depends on who the puppetmaster really is.
Look. Cyprus has a hostile neighbor on it's northern border. And memories are long. The west didn't exactly prevent northern Cyprus from coming into being, now did it?
Now let's look at what actually happened from Russia's perspective. Their oligarchs got their money out. No hard feelings for those associated with the current Russian PTB. The Russians want a southern med port. Both Cyprus and Russia are eastern orthodox. Would anyone here put it past Vladimir Putin to advise the Cypriots to run up their debts, then pull the plug on the eussr? The Russians then play the white knight and provide security assurances.
Remember, the Russians play chess. Not checkers.
Comrade, zo paranoid!
http://flic.kr/p/e4NX4D
Unfortunately, I'm afraid you may be right. Also, I'm not even sure if the President of the Parliament Omirou specifically said that Cyprus should exit the euro; from what I read in Greek blogs, he said it should leave Troika and the memorandum and the "mechanism" (is that the same as EMS? I don't know). Whatever he said, though, it is still refreshing to hear a politician speak against the unholy trinity of the Troika.
Hey Cyprus! Why don't you join with China and Australia? Helloooooooo!!!!!!!
You've got NG, do you not?
How long before he's accused of raping a 15 year old prostitute?
make that a male prostitute
make that a male prostitute
A dead girl or a live boy.
DID HE REALLY SAY THAT? ...................................????????
Well ......if He is sincere then 3 things can happen to him
1st. He has a very nasty accident
2nd. He "commits" suicide (therefore suicided)
3rd. A very sudden and severe incurable CANCER ( Arafat, Chaves, Archbishop of Greece Christodoulos "He did go on about Greece being under attack", Kirchner, etc .etc. etc
Another thought. Is it just me, or did the Cypriots cave just a little too easily on this whole troika thing? I mean this is a country that has a hostile neighbor on it's northern border and is very used to playing the realpolitik game. They don't strike me as a bunch of pussies. So why did they fold like a cheap lawn chair?
what other choice do they have?
What other choice? Taking a hike. Which is what I'm thinking they'll do...AFTER they take whatever money they can squeeze out of the eussr.
IMO, there's a handful of people controlling everybody else's destiny, and because they are unaccountable, it is destiny for the worse. When you have nothing to lose, eventually the trade-off (stay or go) ought to be obvious. If Cyprus were to say "fuck it, lets get out", I would personally contribute to that freedom and economic independence fighting initiative.
What is most amazing is how well the EU game plan works at bullying these countries. The house of cards collapses when the first country actually leaves, forces the losses onto the big EU banks, and allows their country to prosper.
I'm sure that there are enough 1-percenters in Cyprus' parliament and politics in general who will do anything in their power to prevent an Iceland 2.0. And even if they follow Iceland in its footsteps, those crooks will never be held accountable and start to turn the new Cyprus into the old Cyprus the moment they see a silver lining.
Most young cypriots are off to London whatever happens.
Career prospects of a Lehman intern.
They won't be the last to blame their parents for blowing up their lives.
We have the "echo boomers" and "millenials" lined up to do it here.
Rent to own is never a good solution. Chart your own path.
Isn't he a little late?
Does Cyprus have political parties giving them exit EUR choices?
It seems they do right now...
Methinks he'll be heading for an "accident" very soon.
(begin proper theme music)
https://www.tape.tv/vid/40071
just some crazy talk....
move along, nothing to see here
Go Cyprus! It is about time someone showed some leadership.
It's good to be king
It sucks being a slave
Ice-inerate the Euro! Save lives and futures.
I see El Presidente thinks opening a Casino will bring in the punters now that Casino Capitalism Banking isn't paying out. Akio Morita was right about the West
We are all Icelanders now.
wise
wise
Cognitive dissonance? Iceland enacted a haircut of 100% on depositors. Irish and English depositors. Which I support. I also support the 60%-100% haircut to Cyrpus depositors. But zerohedge does not seem consistent, celebrating one haircut and condemning the other. Letting banks go bankrupt means depositors lose money. As it should be.
No it doesn't mean depositors lose money if a bank goes bankrupt. It means the stockholders lose money.
Depositors are first in line. Stockholders are last in line.
1- Insured depositors
2- uninsured deposits
3- bond holders
4- stockholders.
The Troika is moving the stockholders up to #1.
PS. It's called theft, not a haircut. Hair cuts cost $10 to $20. This theft is costing people all of their deposit which could be 100, 000 Euros or more.
It's not a 62.5% theft because the remaining 37.5% is worthless stock in a bank that is as dead as a dorrnail.
Close you eyes and imagine yourself as one of their politicians that will soon be looking up the barrel of a gun...have ya' ever been in such a position...looking up the barrel of a gun as you sit in your easy chair?
And he's aware that going full Icelandic also means to prosecute banksters and politicians involved?
There are some threesomes you should avoid.
Boot the Troika.
Yes, if we remain bound to evil then we become slaves of it. It is seductive and it is easy. This is the choice we must all make.
Either in this generation or the next we will learn again to fight evil and not embrace its seductive purpose.
One has to wonder what makes those who assume to "lead" us so susceptible to evil.
Action will be taken to keep unruly & disobedient politicians from running off at the mouth like this. Take them out back behind the chemical sheds...?
Accidental death in his near future?? The old shot himself twice in the head trick!
The TROIKA DISINFORMATION MACHINE is now working overtime to classify this parliament president as an agent and member of GOLDEN DAWN in Greece....
you just watch....they are now lining up whores to testify that he is a frequent user and they probably have already opened an account in his name in another bank saying he withdrew money during the freeze period...
Zero Hedge get a head atart on this smear campaign....
They tried to S ... only scatches the surface of what could go wrong in Cyprus, IF they tried to follow the Iceland example.
Iceland was a special case for a number of reasons. One is that they have a relatively HOMOGENEOUS population, who were suddenly scalded by rapidly boiling water, rather than slowly simmered, in the "totalitarian tip-toe" slow motion way that the "frogs" elsewhere were slowly boiled alive. Icelanders SUDDENLY found themselves an average of hundreds of thousands of units each in debt, within a few years. Thus, they were shocked into action by that!
The ways that the banksters ordinarily work were well-summarized by John Perkins in his book ECONOMIC HIT MEN. The banksters simply apply the tried and true methods of organized crime to whole countries, in ways which can effectively take control over their governments, AND they will discredit or destroy anyone who gets in their way, OR will generate excuses to have a military invasion, that will bomb them to hell.
However, it was very difficult for those dirty tricks to work in Iceland, the ways that they usually could in other countries. It is my belief that the CIA type guys were sent into Iceland to try, but they stood out like sore thumbs, and were not able to accomplish anything. BUT, consider how easy it would be for the banksters to get a war, and/or civil war, going in Cyprus, IF the Cypriots started giving the banksters real trouble!
The way that the banksters dealt with the "bad example" in Iceland was to simply ignore it. The mass media barely ever covered that story. However, IF Cyprus did something similar, it would become extremely difficult for the mass media to simply ignore that story. Therefore, IF Cyprus follows the Iceland example, one should expect the Economic Hit Men to be put to work. The banksters will pour funding into discrediting and destroying any Cypriot politicians who dare to go against the banksters. Furthermore, the banksters will pour money into funding any factions or fringe groups that will cause serious trouble. (Banksters do not have to create such crazy people, only give them enough money to become significantly dangerous.) Perhaps then NATO will have a "humanitarian excuse" to establish a "no-fly-zone" in order to bomb the shit out of Cyprus?
Anyway, in the bigger picture, the transnational banksters already have an advanced agenda to start more genocidal wars, along with imposing martial law, all around the whole world. The breakdown of civil society in Iceland did not happen, but rather they were able to rally to improve it! However, the destruction of civil society in Cyprus is not far-fetched, and that is well within the general global plans that the ruling classes apparently have prepared to wipe the majority of the human population out ...
Messing with the transnational banksters is messing with a group who are collectively trillionaire mass murderers, who are seriously set on consolidating their global hegemony over the whole world. They already control NATO, and so, Cyprus is on the edge of serious consequences to mess with those dynamics, in a way that Iceland was not.
Paradoxically, Iceland is already so totally and peacefully within NATO, that NATO, and their secret police, have a damned difficult time stirring up the kinds of political trouble that they usually can, in order to cause chaos, from which they can profit, and through which they could prevail. Cyprus is not positioned like that, but rather is already practically a powder keg, with numerous fuses that could readily be lit by the banksters, if or when they thought that was necessary.
Of course, in the end, I would tell Cypriots that they ought to go for it anyway, since the alternative is only to be boiled alive more slowly. But nevertheless, following Iceland will probably see Cyprus rapidly go from being in the frying pan, to being in the fire!
My personal experience has been that ALL politicians are compromised as soon as possible and as much as possible...must be controlled at all cost..
Cyprus Libre !
I'm puzzled - since Cyprus wiped out the bank bond holders, wouldn't there be a gazillion in CDS that are going off about now that will domino capsize all of the financial boats, causing the whole monetary world to black-hole-style implode to the size of a pinhead or something?
Why is nobody talking about a CDS problem?
Don't worry about it, what could possibly go wrong?
Is this guy crazy? Doesn't he have a wife and kids to think about?
This "guy" is courageous enough to do the right thing for his people.
I wish other leaders would look to the interests of those populating their countries instead of kow towing to media, power brokers and so on.
It takes gust to do what is right sometimes. Unfortunately bravery is not in the vocabulary of many as they run for their "security".
Hmm will have to see reaction.
Still nothing on bloomberg + reuters front page. Though it is weekend.
I had just checked the very same thing... And nopesterdopester...
Think it might just get passed over for a 10 th page lower left hand mention
If you don't control your money, you are not a sovereign nation. Is that not blindingly obvious to everyone?
Sorry kids, never happen.
Iceland is an energy exporter. It exports aluminum smelted using the island's geothermal energy. The aluminum is a form of energy like plastic is a form of energy.
Peeps think what is underway is a credit or banking crisis, instead it's an energy crisis ... THE energy crisis. That is ... as the crisis carries forward, there will be less and less available energy. Countries will be excluded from consumption. Cyprus is a model for this 'ex-consumptio' sort of thing.
Cyprus imports 95% of its energy, mostly petroleum. Half is burned for electrical generation, the other half for Cyprus' wondrous automobiles, which the country cannot possibly hope to part with.
If the Cypriots are required to murder their children to get gas they will ask, "Bullet ... or rope?" For them to do otherwise means ... gasp! ... no more cars!
Keep in mind, if ONE CAR is running in Gree .. excuse me, Cyprus, the economy will continue to unravel. The choice in these countries is drive a car ... or live like a human being.
You watch, the Cypriots will choose the car.
They always do. Every time. Suckers.
If Cyprus can secure possession of the offshore gas (a very big if) it will have some energy to export.
Unfortunately, IF Cyprus can secure enough funding to develop these offshore assets, then yes maybe - but it would take a while before it comes online.
Their only hope would be to "invite" or make a deal with a foreign entitiy big enough to handle offshore drilling and not to mention processing of the gas.
cyprus might do better within the euro
what was needed was a clean slate - the cat is now out of the bag, so the solution below is too late. leadership with brains and balls to handle the situation with statecraft would not have casued this crisis in Cyprus. i repeat, it won't happen now..it's too late. the eurocrats and poltical hacks running the IMF and the EU Commission have given up the chance to fix the problem.
1. Before the crisis - create three new clean banks with a working infrastructure, ATMs and credit card facilitiies (could easily be the facilities of the failed banks)
2. Transfer all deposits with less than 500,000 to the new banks(not 100,000 thats just an arbitrary make believe number of significance to no-one)
3. Ring fence the problem sections of the banks balance sheets (deposits and loans) into a resolution trust structure (bad banks)
4. appoint a joint European/Russian task force to investigate the source and applicaiton of funds to the bad banks (3 cypriot judges have as much chance of investigating this and the previous regulatory infrastructure did of preventing it in the first place - ie none)
5. Apply a withholding tax on interest on bank deposits - this does not affect the capital of the <500,000 deposit holders
6. Apply a (small) landing tax on the 2 million per annum tourists (say 50 euros to raise 100 m a year - which at an ECB repo rate of 0.5% would be sufficient to cover the interest on loans of (100m divided by 0.005) = 20 billion which happens to be twice the amount the troika asked for. this secures the 10 billion euro loan from the troika
7. Increase the indirect transaction tax VAT rate to 25% - consumer costs are low on the island anyway, so this does not appear as draconian as it might appear (unsurprisingly I cant get the government finance pdf to download. I think its safe to ballpark VAT rateable value at 2,000 euros for 2m tourists and 5,000 euros for 1m residents (corporat and income tax is not going ot be as significant). The revenue from this is 500 euros x 2m + 1,250 x 1m = 2.35 billion a year and secures the principal repayment of the 10 billion in just over 4 years
http://www.mof.gov.cy/mof/mof.nsf/All/FA81CA495F58D490C22579FF002EC5C9?O...
what is really scary about this ball-park solution is that it has been achieved after a bit of blogging with peers on this site FOR FREE
blehh again, just how incompetent are the eurocrats and imf hacks who pay themselves billions a year out of tax payers funds?
While this is a romantic notion, I'm afraid that until further notice noone will be allowed to leave the EU or the eurozone. The powerplayers running the show will not tolerate any disodence.
" You can check out anytime you like, but you can never leave ".
Bank run is on in Eu thanks to our Russian comrades. They owned the Cypriot Banks and pulled their money out.. thus igniting the fuse. Merkel and the Germanics were left holding the bag as usual. What you have now is an entire continent wide,soon global bank run brewing.
My guess from reading all the news is all those "bad loans" are now atually in Swiss bank accounts and 'written off' by Cyprus banks with the losses passed on to the (unlucky) innocent Sheeples of Cyprus (aka, "SOC"s).
The money is not 'lost' it is just moved via 'bad loans' from the depositors' pockets to politicans' pockets.
Just when I am about to acheive acceptance of the view that there is not a decent person remaining in the political spectrum, this asshole has to FUCK IT ALL UP!
This is going to require weeks of therapy.
"Oh no!! Please don't go! We'll eat you up, we love you so!"
Declare DEFCON 1 and "nuke" the bankers - it's the only sensible and honorable thing to do...........Look how much mercy they have shown you. Stick it to them, it's the only way they will respect you.....
Seriously, makes me want to expatriate to Iceland.
What the fuck do the sheeple not get about this God Damned Ponzi scheme?
happy Easter everyone
Dance to the 'Hangman Style'!
How do you say "In bin ein Icelaender" in Greek? Debt repudiation would really fuck with TPTB and throw them for a total loop.
A side note: Cyprus is not Iceland and will never be as Greece is not Germany and will never be. A certain type of discipline/culture is required that is (sort of) lacking in this corner of the Mediterranean basin.
One is absolutely clear. Ones Cyprus goes out of the EMS, there will be a lot of turbulence, that, if escalated, may end up with military regime.
When the (factious wealth) money is gone, and people are not used to building a true wealth, but only taking and consuming/having good time, finally it comes to the military to put an order.
Nothing new under the sun, just for the Cyprus' sake, we hope that this is their military not someone else's.
http://youtu.be/IHuqVKGmo2A
Great video, with a hat-tip to Tyler and ZH from Biderman.
If I was in charge of Cyprus and wanted to save it from the Troika I would send a telegram to Russian President Putin and Chinese President XI and tell them.....................................
Help, I need somebody,
Help, not just anybody,
Help, you know I need someone, help.
When I was younger, so much younger than today,
I never needed anybody's help in any way.
But now these days are gone, I'm not so self assured,
Now I find I've changed my mind and opened up the doors.
Help me if you can, I'm feeling down
And I do appreciate you being round.
Help me, get my feet back on the ground,
Won't you please, please help me.
And now my life has changed in oh so many ways,
My independence seems to vanish in the haze.
But every now and then I feel so insecure,
I know that I just need you like I've never done before.
Help me if you can, I'm feeling down
And I do appreciate you being round.
Help me, get my feet back on the ground,
Won't you please, please help me.
When I was younger, so much younger than today,
I never needed anybody's help in any way.
But now these daya are gone, I'm not so self assured,
Now I find I've changed my mind and opened up the doors.
Help me if you can, I'm feeling down
And I do appreciate you being round.
Help me, get my feet back on the ground,
Won't you please, please help me, help me, help me, oh.
Then I would start developing my gas resources ASAP and then I would go to a Silver based monetary system and then I would open up tourism and any other business I could then I would send Merkel a dildo covered in 40 grit sandpaper telling her to fuck-off and then I would go into a bunker for a couple years 'til Cyprus was up and running and then I would go into exile heavly gaurded 'til the day I died from natural causes.
But that's just me......................
Wouldn't a Cyprus exit cause a default and CDS to be triggered?? That would then spread...? Just asking, I don't know.
Wouldn't a Cyprus exit cause a default and CDS to be triggered??
Yes it would. The alternative is living under bankers fraud and deception,reduced to serfdom for yourself and your progeney living like a pauper while the banksters live the life of Riley w/ no effort on their part
Let's call in a neutral party with a cool intelligence to sort this out .... like, Giuliano Mignini .... the monster of Perugia .... after he finishes up with Amanda Knox and the Captain of the Costa Concordia ? I love the smell of a Fractional Reserve Disco Fire .... in the morning ! Happy Oyster !
A prophet in his own time. There is a great future as another Monaco, or Lichtenstein. It is time to reclaim their sovereignty.
No future for a country that has allowed the evil beast of the money god to take it over from within. Any day a false flag and then what, war in the USA/ Somewhere else?
http://personalliberty.com/2013/03/18/is-government-readying-for-a-shoot...
And for more craziness in la la land, it looks like Colorado has fallen to the evil beast first.
http://12160.info/page/federal-framework-being-set-up-to-arrest-sheriffs
One questions, future? Not hardly as long as the criminality is rich enough to pay for it's mercenary oppressive armies to maintain the god, money.
http://www.examiner.com/article/video-how-1-asset-holes-offshore-tax-hav...
It is probably the right thing to do but the consequences are just as probably going to turn out very different. Cyprus is not Iceland and local circumstances will be a major factor in the outcome. The rule of law for example which stands on a much stronger basis in Nordic countries than in Mediterranean ones.
You Zero Hedge readers are the reason there are so many drones out there to protect the innocent bankers and Corzine's from unwarranted perp walks.
You are not your brother's keeper. Not one person here is at fault for the sheep who keep ignoring the wake up calls ringing around them. You either choose to learn from it and take control of as much as your own destiny as you can or blindly stumble from one calamity to another in ignorance you have chosen to embrace instead.
Peter Pan, yes your idea has merit. How about going one step further in the right direction, stand for delivery of the 6000 tons of silver and give the finger to the Troika and the Comex.
Max Kaiser and Hugo Salinas Price proposed a plan like this for the Greeks but nobody listened to them.
The point is to get the people in possession of something of REAL tangible value in which to hold their savings and at the same time back a new currency with that same silver. Apply fractional reserve banking to the 6000 tons of Silver and the new paper currency base becomes let's say 600billion Cypriot pounds. Hardly chump change for a small Mediterranean island.
Hoist the Troika on their own trident .... what Cyprus needs .... is for Captain Francesco "Costa Concordia" Schettino .... to drive a couple of cruise ships .... onto the rocks .... repairing the broken port hole windows .... would give a nice Keynesian pump .... to the local economy !
Obviously on the right track, but why does this moron wait until after half the money in the country is STOLEN by the eurozone masters? How stupid is that?