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Cypriot officials: Plan B drawn up to get bailout

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Re: Cypriot officials: Plan B drawn up to get bailout

Postby Maximus » Thu Mar 21, 2013 1:46 pm

Demonax wrote:Here it is then...


Cyprus agrees to set up solidarity fund

Following a proposal by the President of the Republic there was a consensus reached and a unanimous decision was taken for the setting up of an investment solidarity fund. The proposal is currently undergoing legal and technical processing by the Law Office and Republic.

If it is considered necessary, on the basis of the legal and technical processing, the Council of Ministers will be convened immediately in order to approve it, and will be forwarded to the House of Representatives for the rest.

– GOVERNMENT SPOKESMAN CHRISTOS STYLIANIDES


http://www.itv.com/news/update/2013-03- ... rity-fund/?


If its tied to the gas revenues I am investing, when I get my money back. :?
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Re: Cypriot officials: Plan B drawn up to get bailout

Postby Megalexandros » Thu Mar 21, 2013 3:41 pm

A great solution to the banking crisis is being published tomorrow morning in Politis newspaper ... read it NOW at https://sites.google.com/site/thecyprussolution/ by a serious and intelligent citizen who wishes to remain anonymous - I think this what all of us should be focusing on and "wake up and smell the roses" - great read, enjoy and think deeply about what you as a Cypriot want!
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Re: Cypriot officials: Plan B drawn up to get bailout

Postby Demonax » Fri Mar 22, 2013 3:11 am

Looks like our strategy to scare the Europeans shitless is working:

Cyprus Gets Thrown New Life Line

“We are not yet convinced that Cyprus won’t reach a deal. The European Central Bank does not want this to get out of control and the European Commission wants to avoid a banking system collapse or their exit from the euro,” said Signorelli.

Geopolitically, the U.S. and Europe do not want to lose Cyprus from their sphere of influence, nudging it closer to Russia. If Russia exploited Cyprus’ gas resources it would have even more energy power over the EU. The island could even provide Russia with an alternative naval base, which will be important as its only Mediterranean naval base in Syria is now in jeopardy.

“Don’t be surprised by an eleventh hour deal,” Signorelli says.


http://www.forbes.com/sites/kenrapoza/2 ... life-line/?
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Re: Cypriot officials: Plan B drawn up to get bailout

Postby GreekIslandGirl » Fri Mar 22, 2013 4:31 pm

Demonax wrote:Looks like our strategy to scare the Europeans shitless is working:

Cyprus Gets Thrown New Life Line

“We are not yet convinced that Cyprus won’t reach a deal. The European Central Bank does not want this to get out of control and the European Commission wants to avoid a banking system collapse or their exit from the euro,” said Signorelli.

Geopolitically, the U.S. and Europe do not want to lose Cyprus from their sphere of influence, nudging it closer to Russia. If Russia exploited Cyprus’ gas resources it would have even more energy power over the EU. The island could even provide Russia with an alternative naval base, which will be important as its only Mediterranean naval base in Syria is now in jeopardy.

“Don’t be surprised by an eleventh hour deal,” Signorelli says.


http://www.forbes.com/sites/kenrapoza/2 ... life-line/?


Doesn't this sound like a re-enactment of what they did to Greece? Taking things to the brink. The Euro is never going to fail. I suspect a lot of Hedge Funds have swelled. :roll:
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Re: Cypriot officials: Plan B drawn up to get bailout

Postby Demonax » Fri Mar 22, 2013 4:40 pm

Think we're on plan D now which is really plan A-lite. Hit the big depositors...

A 12.2% tax on deposits above €500,000 would yield the €3.5bn necessary. A 9.46% tax would also be sufficient if applied to all depositors over €100,000. Either of these options would probably be acceptable to the Cypriot parliament. Sources suggest that the Democratic Party (DIKO, Cypriot President Anastasiades's junior coalition partner) has indicated its support for such proposals, which would bring the government up to 28 votes – so potentially needing only one more.


http://openeuropeblog.blogspot.co.uk/20 ... yprus.html
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